The revenue of Mechel PJSC for three quarters of the current year amounted to 228.2 billion rubles, which is 3.7% less than in January-September 2018. As follows from the company's financial report under IFRS, the decrease was due to a decrease in revenue for the metallurgical segment, due, in turn, to a decrease in production and sales of steel products. Revenue in the mining segment remained unchanged, reports NEDRADV.
The cost of sales in the reporting period increased by 7.6% and amounted to 141.8 billion rubles. At the same time, the consolidated EBITDA decreased by 27.2%.
Due to the reduction of the Central Bank’s key rate and other floating rates, Mechel reduced financial expenses by 5% to 9.5 billion rubles.
Net income attributable to shareholders amounted to 12.2 billion rubles. This is 10.9% more than in the first nine months of last year. The company explains the growth in profits with foreign exchange gains.
As of September 30, 2019, the company's net debt without penalties, fines and options amounted to 408 billion rubles.
Recall that in November of this year, Sberbank assigned the debt of Mechel in the amount of 50 billion rubles to VTB Bank. Currently, VTB's share in the company's loan portfolio is 51%.
Mechel is a global mining and metals company. The company's products are supplied to Europe, Asia, North and South America, Africa. Mechel unites producers of coal, iron ore, steel, rolled products, ferroalloys, thermal and electric energy.