In January-Setpember 2020, Metalloinvest increased iron ore production to 30.4 million tonnes, steel production by 1.0% year-on-year. Hot metal production decreased by 13.0% year-on-year to 1.8 million tonnes, the company informed.
Iron ore product shipments to third parties increased by 7.8% y-o-y and amounted to 20.8 mn tonnes. The main growth driver was an increase in pellets shipment to Europe and Asia.
Pig iron supplies to the domestic market decreased by 35.7% to 0.9 million tonnes. The share of iron ore product shipments to the domestic market decreased slightly to 47.8%, compared to 51.9% in 9M 2019. The company increased export shipments to Europe and Asia by 17.5% year-on-year, while shipments to China increased 2.5 times
In 9M 2020, pig iron and steel product shipments to the Russian market increased by 1.2% year-on-year to reach 32.2% of the total supplies. Metalloinvest (tax number: 7705392230) is a leading producer and supplier of iron ore products and direct reduced iron in the global market, one of the regional producers of high-quality steel. The company possesses the world's largest iron ore deposits under development and has achieved one of the lowest cost of IORM production values. 100% of the company's shares are controlled by USM Holding Company LLC whose largest beneficiary is Alisher Usmanov (49%).
IFRS net profit of Metalloinvest for 2019 increased by 5.1% to $1.731 billion from $1.647 billion a year earlier. Revenue decreased by 3.2% to $6.96 billion from $7.187 billion. EBITDA dropped by 14.3% to $2.514 billion from $2.934 billion.
