Total revenues for the Russian steel segment in Q2 2014 were $ 2,047 million, up 15.4 percent QoQ. This growth was due to an increase in sales volumes at OJSC MMK by 8.3 percent and by MMK-Metiz by 21.2 percent amid rising steel prices.
EBITDA for Q2 2014 is $ 403 million, up 19.7 percent. The growth was also driven by the effect of the devaluation of the ruble, which led to an additional increase in steel prices in dollar terms on the domestic market.
The steel segment in Turkey provided MMK Metalurji's total Q2 2014 revenues of $ 171 million, an increase of $ 37 million, or 26.7 percent qoq. The growth was mainly driven by a significant increase in sales volumes in Q2 2014. QoQ growth was 23.8 percent.
EBITDA of MMK Metalurji for the 1st half of 2014 is $ 15 million, having increased up to 2.5 times when compared year-on-year. In the second quarter of 2014, MMK Metalurji's EBITDA is $ 2 million, which was affected by changes in the TRL /USD exchange rate, as well as an increase in prices for basic raw materials and a decrease in prices for galvanized and pre-painted steel during the quarter.
Capacity utilization of MMK Metalurji is expected to remain at its maximum in 2014.
Updated data of the MMK Group for the metallurgical segment
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Azovpromstal® 24 August 2014 г. 12:45 |
