MMK's net profit for the first quarter of 2024 increased by 20.5% to RUB 23.7 billion. compared to the first quarter of 2023. Revenue increased by 25.5% to RUB 192.95 billion, EBITDA increased by 27.8% to RUB 42.15 billion. This is stated in the company's message.
In the second quarter, sales volume is expected to recover, primarily premium products, against the background of the completion of repairs in the rolling mill and positive dynamics of metal consumption, supported by a seasonal revival of construction activity, the company notes.
Magnitogorsk Iron and Steel Works PJSC (TIN 7414003633) is a steel manufacturer. The company's assets in Russia represent a metallurgical complex with a full production cycle, starting with the preparation of iron ore raw materials and ending with the deep processing of ferrous metals. As of March 3, 2022, 20.24% of MMK's shares are in free circulation.
MMK's net profit for 2023 amounted to RUB 118.36 billion, an increase of 68.2% compared to 2022. Revenue increased by 9.1% to 763.39 billion rubles, EBITDA increased by 26.2% to 195.6 billion rubles.
