METALLOINVEST FINANCE DESIGNATED ACTIVITY COMPANY (FRA:XS091829) METALLOINVEST ANNOUNCES INTERIM FINANCIAL RESULTS FOR 9M 2020
Transparency directive : regulatory news
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Metalloinvest Finance Designated Activity Company (IRSH)
METALLOINVEST ANNOUNCES IFRS FINANCIAL RESULTS FOR 9M 2020 Moscow, Russia - 23 November 2020 - Metalloinvest ('the Company'), a leading global iron ore and HBI producer, and one of the regional producers of high-quality steel, today announces its IFRS financial results (unaudited) for the third quarter and nine months ended 30 September 2020. Management comments Alexey Voronov, Deputy CEO - Chief Financial Officer of Management Company Metalloinvest, commented: "In the nine months of 2020, the Company's results were expectedly under pressure due to the deterioration of economic activity in global markets, which primarily affects the structure of markets and prices, driven by increased transportation costs. At the same time the Company was able to decrease costs by 17%, which allowed to maintain a solid EBITDA margin of 35.7%. The sales markets grew in Q3, EBITDA increased 9% compared to Q2 2020. We expect positive dynamics to continue in 2020. Company maintained a comfortable level of leverage and a solid liquidity reserve." FINANCIAL HIGHLIGHTS
PRODUCTION HIGHLIGHTS
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# # # # If you have any questions, please contact us: Artem Lavrischev T: +7 (495) 981-55-55, ext. 7243
Anton Troshin Public Relations Tel.: +7 (495) 981-55-55, ext. 7629
Metalloinvest is a leading global iron ore and merchant HBI producer and supplier, and one of the regional producers of high-quality steel. The Company has the world's second-largest measured iron ore reserve base and is one of the lowest-cost iron ore producers. Metalloinvest is wholly owned by Holding Company USM LLC. Alisher Usmanov is the major beneficiary of Holding Company USM LLC (49%).
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| ISIN: | XS0918297382 |
| Category Code: | MSCM |
| TIDM: | IRSH |
| Sequence No.: | 88367 |
| EQS News ID: | 1149967 |
| End of Announcement | EQS News Service |
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