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METALLOINVEST ANNOUNCES H1 2021 IFRS FINANCIAL RESULTS

Metalloinvest Finance Designated Activity Company (IRSH)
17-Aug-2021 / 12:30 MSK
Dissemination of a Regulatory Announcement, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.

METALLOINVEST ANNOUNCES H1 2021 IFRS FINANCIAL RESULTS

Moscow, Russia - 17 August 2021 - Metalloinvest ("the Company"), a leading global iron ore and HBI producer, and one of the regional producers of high-quality steel, today announces its audited IFRS financial results for the six months ended 30 June 2021 (H1 2021).

HIGHLIGHTS FOR H1 2021

Nazim Efendiev, CEO of Management Company Metalloinvest, commented:

"In the first half of 2021, we witnessed an impressive recovery in business activity and industrial production around the world. The effect of deferred demand as well as the various stimulating measures taken by many leading countries, including Russia, enabled the high utilisation of production capacities along the entire value chain in the metals & mining sector.

"As a result, against the background of faster growth in global steel consumption relative to production, an exceptionally favourable pricing environment developed in the Company's main sales markets. This factor, combined with the efforts of management to control costs and implement operational efficiency best practices, enabled the Company to deliver remarkable financial results. In addition, due to strong cash flow, the Company reduced its Net debt by 20%, which ensured an extremely low level of leverage - 0.6x in terms of
Net debt / EBITDA LTM.

"The strong results, the Company's steadily improving business profile and its focus on high-quality products for green metallurgy did not go unnoticed by the leading credit rating agencies. An important milestone in Metalloinvest's 10-year presence in the public debt capital market was Fitch's upgrade of the Company's corporate credit rating in June this year to investment-grade.

"The COVID-19 pandemic continues to be one of the main constraints on business globally. The health of our employees is our top priority and the Company continues to implement all measures to ensure continuous production and the execution of the capital expenditure programme. Vaccination has been successfully carried out at our enterprises since January. Today, 70% of our employees have been vaccinated."

 

KEY CORPORATE HIGHLIGHTS

Operational developments and growth projects

Financing

ESG developments

  

 

Full press release and financial statements are available at:

https://www.metalloinvest.com/investors/financial-results/

 

# # # #

 

If you have any questions, please contact us:

Artem Lavrischev
Investor Relations

E: ir@metalloinvest.com

T: +7 (495) 981-55-55, ext. 7243

 

Anton Troshin

Public Relations

E: pr@metalloinvest.com

Tel.: +7 (495) 981-55-55, ext. 7629

 

About Metalloinvest

Metalloinvest is a leading metals and mining company with the second-largest proven iron ore reserves on a JORC-equivalent basis
(13.8 billion tonnes and about 136 years of reserve life). The company is the world's largest producer and supplier of merchant hot briquetted iron (HBI) products, a low-carbon raw material used to produce green steel; Metalloinvest holds a leading position in the production of pellets, iron ore concentrate and high-quality steel.

Alisher Usmanov is the main beneficiary of the company (with a 49% stake) through Holding Company USM LLC.

Ticker (Bloomberg): METIN RU; official website: www.metalloinvest.com

 


ISIN:

XS0918297382

Category Code:

IR

TIDM:

IRSH

Sequence No.:

120161

EQS News ID:

1226986


 

End of Announcement

EQS News Service

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