13:36 30.06.2017

Metinvest sees 9% fall in revenue in April on March, sees 41.7% rise in EBITDA

2 min read
Metinvest sees 9% fall in revenue in April on March, sees 41.7% rise in EBITDA

Revenue of Metinvest B.V. (the Netherlands), the parent company of international vertically integrated mining and metal group Metinvest, fell by 9% in April 2017 compared to the previous month, but it grew by 20.1% year-over-year, to $603 million ($663 million in March 2017 and $502 million in April 2016).

According to an unaudited monthly report for April 2017 in line with international financial reporting standards (IFRS), earnings before interest, taxes, depreciation and amortization (EBITDA) totaled $136 million in April, and this was 41.7% up on March ($96 million), but 2.2% less than in April 2016 ($139 million).

According to the report, adjusted EBITDA of the metallurgical division in April was $36 million.

EBITDA of the mining division was $113 million in April.

Total revenue of the metallurgical division in April amounted to $482 million, that for the mining division - $306 million, sales to other segments – minus $185 million.

Total debt of the company in April grew by $13 million compared to March, to $2.964 billion. Cash narrowed by $78 million, to $137 million.

According to the report, Adjusted EBITDA is calculated as earnings before income tax, financial income and costs, depreciation and amortization, impairment and devaluation of property, plant and equipment, foreign exchange gains and losses, the share of results of associates and other expenses that the management considers non-core, plus the share in EBITDA of joint ventures (JVs).

Cash and cash equivalents do not include blocked cash for cash collateral under issued LCs and irrevocable banks guarantees and include cash blocked for foreign currency purchases.

Total debt is calculated as the sum of bank loans, bonds, trade finance, seller notes and subordinated shareholder loans.

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