IFRS net loss of OJSC Magnitogorsk Iron & Steel Works for Q2 2013 grew 3.16-fold to $155 million from $49 million the year before, the company reported.
Revenue decreased by 14.11% to $2.161 billion from $2.516 billion, profit from operations 43.8-fold to $25 million from $95 million, EBITDA increased by 13.67% quarter-on-quarter to $291 million from $256 million in Q1 2013, EBITDA margin grew to 13.5% from 11.2%.
OJSC Magnitogorsk Iron & Steel Works (transliterated from Russian as Magnitogorskiy Metallurgicheskiy Kombinat / MMK, tax number: 7414003633) is among the largest world steel manufacturers leading in Russia's iron and steel industry. The company's assets in Russia are a large iron and steel complex that encompasses the entire production chain from preparation of iron ore to advanced processing of rolled steel. MMK produces a great variety of metal products where high-level-processed goods of greatest added value prevail. In 2010, MMK produced 11.4 million tonnes of steel and 10.4 million tonnes of finished metal products.
IFRS net profit of OJSC Magnitogorsk Iron & Steel Works for Q1 quarter 2013 grew by 35.71% to $19 million from $14 million for 2011. Revenue decreased by 5.86% to $2.283 billion from $2.425 billion, profit from operations 33-fold to $1 million from $33 million, EBITDA by 12.63% to $256 million from $293 million, EBITDA margin was 11.2% against 12.1%.
According to the information and retrieval system DataCapital, RAS net profit of MMK for H1 2013 was RUB 103 million against a profit of RUB 4.379 billion the year before. Revenue decreased by 6.5% to RUB 116.133 billion from RUB 124.205 billion, sales profit by 41.63% to RUB 6.58 billion from RUB 11.273 billion, loss before tax was RUB 234 million against a profit of RUB 5.575 billion.