. February

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