Gazprombank has increased its stake in Mechel to 5.45% from 0.51%. The ownership change occurred on July 15. The disclosure is based on the information specified in the notice to shareholders, Mechel informed.
Gazprombank (JSC) (GPB, tax number: 7744001497) established in 1990 is among the three largest banks of Russia in terms of financial performance. The bank serves the key industries of the Russian economy (gas, oil, nuclear power, chemistry and petrochemistry, black and non-ferrous metallurgy, electric power, mechanical engineering and metalworking, transport, construction, telecommunications, agriculture, retail.
Mechel PAO (tax number: 7703370008) is one of the leading Russian companies. The company's profile covers 4 business segments: mining, metallurgical, ferroalloy industry and power engineering. The company unites manufacturers of coal, iron-ore concentrate, nickel, steel, rolled products, high-added value products, thermal and electric energy. Mechel's goods are sold in Russia and worldwide.
IFRS profit of Mechel PAO for 2019 attributable to the company's shareholders dropped by 81% to RUB 2.409 billion from RUB 12.628 billion a year earlier. Revenue decreased by 5% to RUB 296.567 billion from RUB 312.574 billion, EBITDA decreased by 29% to RUB 53.428 billion from RUB 75.667 billion.
