Metinvest in Nov sharply worsens performance, revenue 67.5% down on Oct, EBITDA 12.5% down
Revenue of Metinvest B.V. (the Netherlands), the parent company of the Metinvest Group, in November 2017 fell by 6.7% or $62 million compared to the previous month, to $866 million from $928 million, according to an unaudited consolidated financial report in line with IFRS published on Monday.
Earnings before interest, taxes, depreciation and amortization (EBITDA) totaled $196 million in November, which is 12.5% less than in October ($224 million).
According to the report, in November the adjusted EBITDA of the metal division of the group was $130 million ($148 million in October), EBITDA of the mining division was $76 million ($118 million in October). Corporate overheads were minus $6 million.
Total revenue in November consisted of revenue of the metal division of $758 million, that of the mining division - $294 million and internal sales – minus $186 million.
The total debt of the company in November grew by $39 million compared with October, to $2.963 billion. Cash and cash equivalents fell by $134 million, to $196 million.