In the first half of 2025, MMK reduced steel production by 18.2% to 5.193 million tons. This will be announced on the company's website.
MMK attributes the decrease to a slowdown in business activity in the Russian Federation amid high interest rates and unfavorable market conditions in the Republic of Turkey.
Pig iron smelting for 6 months of 2025 amounted to 4.558 million tons. This is 8.8% less than in the same period of 2024. Coal concentrate production increased by 16.1% to 1.562 million tons, mainly due to increased production volumes.
Sales of metal products by the group decreased by 14.9% to 4,921 million tons due to unfavorable Russian market conditions due to macroeconomic factors, as well as due to major repairs in the rolling mill.
Sales of premium products decreased by 18.1% to 2.005 million tons, reflecting lower sales of thick mill 5000 sheet and coated rolled products.
Magnitogorsk Iron and Steel Works PJSC (TIN 7414003633) is a steel manufacturer. The company's assets in Russia are 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.
MMK's net profit for 2024 decreased by 32.6% to 79.74 billion rubles. compared to a year earlier. The group's revenue amounted to 768.466 billion rubles, an increase of 0.7%. EBITDA decreased by 21.8% to RUB 153.023 billion.
On September 30, 2024, the AK&M rating agency confirmed MMK's highest rating of non-financial (in the field of sustainable development) reporting.
