Metinvest sees 20% fall in net profit in H1 2017
Metinvest B.V. (the Netherlands), the parent company of the Metinvest mining and metal group, saw a 20% fall in net profit in January-June 2017 year-over-year, to $72 million from $90 million.
According to an unaudited consolidated financial report, revenue over the period grew by 36%, to $3.913 billion and earnings before interest, taxes, depreciation and amortization (EBITDA) grew by 45%, to $839 million.
Total debt fell by 1%, to $2.949 billion, while cash expanded by 14%, to $258 million.
The key shareholders of Metinvest Group are PrJSC System Capital Management (71.24%) and Smart-holding (23.76%).