Metinvest increases his profit

The largest mining and metallurgical group Metinvest in 2011 increased a net profit of 4.2 times compared to the last year - $ 473 million. Uda $ 1.854 billion, according to the holding financial indicators.

Metinvest is a vertically integrated mining group of companies, which controls assets at each stage of the production chain from coal mining to the production of semi -finished products and final products from steel, pipe rental and rolls, as well as the production of other high -profit products. The group consists of mining and metallurgical enterprises of Ukraine, Europe and the USA and sells products in key markets in the world.

According to the company, operating profit increased by 186.4%- before; 2.701MLD., While the capital costs increased by 100.2%to $ 1.165 billion, and cash increased from $ 449 million to $ 792 million. Over the past year, production increased by 64.4%, and coal production - by 12.3%, while the production of iron ore concentration was preserved at the level 2010. In addition, in 2011, a new domain furnace No. 3 was commissioned at the Enakievsky metallurgical plant, launched the Affinity skiing complex in the United States, disabled the Marten stoves in Azovstal, and completed the consolidation of the MMK named after Ilyich in the Metinvest group.

At the same time, over the past year, Metinvest has released seven -year -old Eurobonds in the amount of 750 million US dollars, bought out five -year -old euro -rings of the debut placement of Azovstal in the amount of $ 175 million and provided a five -year -old loan funding for the amount of billion US dollars, which was provided by Deutsche Bank AG, ING BANK NV, NATIXIS, Unicredit Bank AG, Westlb AG I BNP Paribas.

In addition, the Metinvest group attracted Rabobank Group loans for 75 million US dollars, Unicredit for $ 100 million and Sberbank of Russia for $ 175 million.

In 2011, Metinvest signed an agreement on the acquisition of a share of more than 50% of the industrial group, which owns 50% of the shares of OJSC Zaporizhstal.

Since October 2011, the Metinvest Holding has been implementing a new operating model and a new organizational structure.