Metinvest lost more than 70% of net profit this year

The press center of Metinvest has published the latest financial situation in the company today. The results of financial activities for the first half of 2012 are disappointing.

The net profit of Metinvest for the period from January to June this year amounted to $ 334 million, which is 71% less than last year last year. However, if we take into account the capital and other costs related to integration, the further opening of service metal centers in Ukraine and Russia, then everything does not look so sad as the director of Metinvest Igor Swed is trying to present in his commentary on the press release.

Consolidated revenue from all enterprises of the Metinvest group in the first half of 2012 decreased slightly, by about 4% to the level of 6 billion 743 million dollars, the company's profitability remained at the level of 16% and the operating profit amounted to $ 630 million.

In a difficult time for world metallurgy, the production enterprises of the groups increased production volumes by 2-5%, in particular, the production of iron ore concentrate increased to 18 million 217 thousand tons in the first half of 2012.

Mr. Syry, explains some fall in the implementation of the metal production by the influence of an unstable economic situation. "If we talk about the markets, Ukraine, Europe, the Middle East, North Africa and the CIS remain key regions for us to sell metal products. In the first half of 2012, the share of sales to European consumers decreased by 13 percentage points to 27% against the background of a worsening market conditions, while the share of sales in Ukraine increased by 7 percentage points to 25% thanks A number of construction and infrastructure projects in preparations for the 2012 UEFA European Football Championship, said the General Director of the Metinvest group Igor Swed.






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