MMK Board of Directors Recommends Dividends For Q4 2018

PJSC Magnitogorsk Iron & Steel Works ("MMK" or "the Company”, ticker: MMK:LI) announces that on 8 February 2019 the Company’s Board of Directors recommended that the Annual General Meeting of shareholders approve a dividend of RUB 1.398 (before taxes) per share for the fourth quarter of 2018 on MMK’s issued ordinary registered shares. The dividend will represent the total of approximately USD 239 mln at the current exchange rate, which equals to 100% of the Company’s FCF for Q4 2018. As a result, ...
15 February 2019., 14:22   comment

MMK Group Financial Statements

Q4 2018 highlights vs Q3 2018 The decrease in revenue for Q4 2018 was due to the fall in the average sale price of finished products against a backdrop of a seasonal decrease in sales of steel products. In Q4 2018, the cost of sales grew q-o-q, mainly due to higher prices of key raw materials on the domestic market. As a result, EBITDA decreased by 20.0% on the previous quarter. EBITDA margin amounted to 27.4%. Quarterly profit amounted to USD 245 mln. One-off factors that had an impact on profit ...
02 August 2019., 16:15   comment

MMK's hot-rolled products Mill 2000 sets annual production record

PJSC Magnitogorsk Iron and Steel Works’ (MMK) hot-rolled products Mill 2000 achieved its maximum annual production rate in 2018, for the second time since its launch, breaking the 6 million tonne mark for production of hot-rolled products. The previous record was set at the end of 2016, when the annual output of the mill reached 5.948 million tonnes of hot-rolled steel. In 2018, the figure was 6.002 million tonnes. MMK's most productive rolling mill is located in sheet-rolling shop No. 10. This ...
02 May 2019., 11:37   comment

MMK Group Trading Update for Q4 and FY 2018

Q4 2018 highlights vs. Q3 2018 MMK Group’s total sales of finished products in Q4 2018 totalled 2,936 thousand tonnes, down 3.8% quarter-on-quarter (q-o-q). MMK Group’s sales of HVA products in Q4 2018 were 1,349 thousand tonnes, almost flat q-o-q. The share of HVA products in total sales increased to 45.9%. MMK Coal’s coal concentrate production in Q4 2018 totalled 781 thousand tonnes, down 3.4% q-o-q. FY 2018 highlights vs. FY 2017 MMK Group’s total sales of finished products in FY 2018 totalled ...
25 January 2019., 14:49   comment

MMK reaches new record resilience for steelmaking unit lining

Magnitogorsk Iron and Steel Works (MMK) has achieved a new record indicator for the resilience of the refractory lining of the main arch of the two-hearth furnace (THF) at the electric steel smelting shop. Refractories, which face the internal surface of a furnace, withstood 1,321 melts. The previous highest indicator (1,265 melts) was set just three months ago. An increase in the numbers of melts per lining supports higher output, reduces operational costs and increases production efficiency ...
26 December 2018., 12:37   comment

MMK named among the best enterprises in Russia in rating by WWF

The rating was initiated by the World Wide Fund for Nature (WWF) of Russia and the United Nations Environment Programme (Russian Federation Mission). The rating was carried out by the National Rating Agency on the basis of data on the activities of companies which was publicly available (reports, reports, media, official websites of companies). The final rating was formed based on the analysis of three components: the company's environmental management, environmental impact and disclosure of ...
18 December 2018., 11:48   comment

MMK receives gold at Metal-Expo

Magnitogorsk Iron and Steel Works (MMK) became the winner of the 24th International Industrial Exhibition "Metal-Expo`2018". The company won a gold medal for the development and implementation of a production logistics data system, allowing for a significant increase in productivity. The prize was awarded at the end the forum held in Moscow on November 13-16. Competition winners include leading Russian metallurgical companies and research teams that have developed and successfully introduced ...
28 November 2018., 11:27   comment

MMK open for industrial tourism

Magnitogorsk Iron and Steel Works (MMK) has launched a project which allows guests to visit the company’s production site. Several sightseeing tours are now readily available to tourists. ‘Taming the Fire’ – This tour includes a visit to Russia’s largest blast furnace plant and the unique complex of Mill 5000 whose products are used to supply manufacturers of large diameter pipes, as well as shipbuilding and bridge construction companies. You can visit the workshops and the plant’s science and ...
19 October 2018., 14:49   comment

MMK to help develop standards for technology and innovation

Magnitogorsk Iron and Steel Works will take part in the Expert Group for the Development in Russia of Standards for the Implementation of Technology and Innovation. A unified methodology will increase demand for Russian technology and help boost Russian companies’ competitiveness. The Standards will constitute recommendations on working with external innovations, along with other measures aimed at making large companies more efficient and creating a supportive business environment for new technologies ...
14 September 2018., 16:47   comment

MMK’s environmental efforts and resource management recognized by industry competition

Magnitogorsk Iron and Steel Works (MMK) won the XV industry competition titled ‘Metal and Mining Enterprises with Highly Effective CSR’. The competition participants were 61 metal and mining enterprises. For the second year in a row, MMK is amongst the winners in the category ‘Environmental Protection and Resource Management’. MMK’s investments in environment protection last year exceeded 4 billion rubles. The company undertook a number of large ecological projects including: the reconstruction ...
07 September 2018., 11:43   comment

MMK’s hot-rolled products Mill 2000 sets another record

PJSC Magnitogorsk Iron and Steel Works’ ("MMK") most powerful unit, hot-rolled products Mill 2000, produced 527.5 ths tonnes of metal in May 2018, setting an all-time record for monthly output. It was the highest production volume at the mill since its commissioning in 1994, beating the previous monthly record of 526.2 ths tonnes set in January 2015. MMK’s hot-rolled products Mill 2000 is one of the most powerful facilities in Russia. It is located at MMK’s sheet-rolling shop No 10 and was modernised ...
18 June 2018., 16:42   comment

MMK showcases environmental policy in action

Magnitogorsk Iron and Steel Works (MMK) has published a video titled “MMK – Caring About the Future” describing its environmental efforts. The six-minute video presents the results of MMK’s environmental activities in the past few years in a clear and simple way, and outlines the Company’s mid-term environmental plans. The video summarises an enormous amount of data using infographics. It also contains information on MMK’s numerous activities to combat air and water pollution, as well as in ...
06 August 2018., 17:40   comment

MMK invests over RUB 4 bln in environmental programmes in 2017

In 2017, Magnitogorsk Iron and Steel Works invested 4,157.8 million rubles in environmental initiatives. From 2018 to 2025, the Company plans to spend more than 38 billion rubles on environmental protection. In 2017, 2,578 million rubles were invested in the construction and reconstruction of facilities aimed at improving air quality. As a result of the implementation of 31 environmental initiatives, air pollutant emissions were cut by 2,536 tonnes per year. The key projects of the past year ...
05 April 2018., 14:48   comment

MMK continues to improve energy efficiency of production

The total economic effect from the implementation of projects to improve the energy efficiency of production processes at the Magnitogorsk Iron and Steel Works in 2017 amounted to about 1 billion rubles. Work to improve energy efficiency was carried out at all levels of the plant’s industrial site. As in previous years, the Company’s energy conservation and energy efficiency activities were carried out in several directions. One of these is the study and implementation of energy-saving ideas. ...
04 September 2018., 12:13   comment