EquityStory.RS, LLC-News: Metalloinvest Finance Designated Activity Company
/ Key word(s): Quarter Results
Operational Results for FY and Q4 2020
Metalloinvest (the "Company"), a leading global iron ore and merchant HBI producer and supplier, and one of the regional producers of high-quality steel, today announces its operational results for the twelve months and the fourth quarter of 2020.
Nazim Efendiev, CEO of Management Company Metalloinvest, commented:
"Despite the challenges of 2020, we were able to maintain our production at a high level during the year. The production of iron ore, our core product, amounted to 40.4 mn tonnes, which is 0.5% more than last year. Steel production increased to almost 5 mn tonnes, mainly due to an increase in volumes at Ural Steel after the reconstruction of electric arc furnaces using the innovative FMF technology, that took place in 2019. Share of high value-added products in the total volume of iron ore shipments remained at the level of 72%.
The milestone events of 2020 were the launch of a unique crushing and conveyor facility and the beginning of production of premium pellets for metallisation at Andrey Varichev Mikhailovsky GOK. This allows the Company to continue implementing its strategy of improving product quality and ensuring sustainable sales."
 Hereinafter iron ore refers to iron ore concentrate and sintering ore
 Due to the transition to a new integrated financial and business operations management system based on the SAP S/4HANA business suite, the methodology for shipments disclosure was changed. Starting from 01.01.2020, the export supplies are presented as the shipments to the final customer from the warehouses of Metalloinvest Trading AG (until 31.12.2019, exports are represented by shipments from the warehouses of plants)
03.02.2021 MSK Dissemination of a Corporate News, transmitted by EquityStory.RS, LLC - a company of EQS Group AG.
|Company:||Metalloinvest Finance Designated Activity Company|
|28, Rublevskoye shosse|
|Phone:||+7 (495) 981-5555|
|Fax:||+7 (495) 981-9992|
|Listed:||Foreign Exchange(s) Dublin|
|EQS News ID:||1165362|
|End of News||EquityStory.RS, LLC News Service|
1165362 03.02.2021 MSK