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 RUB 768.466 billion, an increase of 0.7% due to rising prices for metal products amid rising costs and inflationary factors. This is stated in the company's message.
EBITDA decreased by 21.8% to RUB 153.023 billion, reflecting rising prices for basic metallurgical raw materials and an increase in the payroll. The EBITDA margin was 19.9%.
Free cash flow increased by 15.3% and amounted to 35.464 billion rubles due to the normalization of working capital and an increase in interest received on deposits placed.
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 Group's revenue for the first 9 months of 2024 increased by 8.2% to RUB 602.83 billion. compared to a year earlier. EBITDA decreased by 8.7% to RUB 129.7 billion. Net profit decreased by 20.4% to 67.8 billion rubles.
