Russian steel maker NLMK Group in Q3 2021 increased EBITDA by 11% QoQ to USD 2.3 billion, EBITDA margin was 50%. Free cash flow reached usd 1.1 billion.. Revenue increased by 10% QoQ to USD 4.6 nillion(, driven by higher sales prices for metal products. EBITDA rose 11% qoq to $ 2.3bn (+ 3.9x YoY) as a result of widening steel / raw materials spread. EBITDA margin remained at the level of the previous quarter of 50% (+24 p.p. YoY).Key results 9 months. 2021.Revenue rose 69% YoY to USD 11.6 billion on the back of higher average selling prices and an increase in the share of finished goods in the sales portfolio.EBITDA increased 3.1 times YoY to USD 5.5 billion due to widening price spreads between steel products and raw materials, as well as due to the implementation of Strategy 2022 projects. EBITDA margin amounted to 48% (+22 p.p. YoY) Net profit increased 5.5 times YoY to USD 3.8 billion, with gross profit growing.Shamil Kurmashov, Vice President for Finance of NLMK Group,In Q3 2021, average prices for steel products increased in key sales areas. Steel quotes in the US have renewed their all-time highs again. However, since the middle of the quarter, demand growth in export markets has slowed down along with the ongoing recovery in local production and imports. In China, a decline in steel production and a decline in exports supported global steel prices and simultaneously led to a correction in iron ore prices. Coal export prices from Australia continued to rise on the back of restocking in India, Europe and Japan.In August 2021, equipment was repaired at the Lipetsk site following an incident in the oxygen supply infrastructure of a steelmaking facility. The production utilization recovered with the completion of repairs and in September amounted to 98%. Against this backdrop, the company's sales for the quarter amounted to 4.1 million tonnes (-4% qoq). The positive dynamics of sales prices contributed to an increase in NLMK Group's revenue by 10% qoq to $ 4.6 bn, EBITDA - by 11% qoq to $ 2.3 bn. EBITDA margin remained at the 2Q level. and amounted to 50%. Free cash flow grew by 29% qoq to $ 1.1bn.