Metinvest sees revenue rise by almost 10%, EBITDA by 3.1%, debt down by 2.9% in June
The revenue of Metinvest B.V. (the Netherlands), the parent company of Metinvest mining and metallurgical group, in June 2018 increased by 9.8%, or $98 million, compared to the previous month, to $1.096 billion from $998 million.
According to the preliminary unaudited consolidated monthly financial results of the company, its EBITDA in June was $231 million, which is 3.1% ($7 million) more than in May ($224 million).
According to the report, the adjusted EBITDA of the metallurgical division of the group for June 2018 was $119 million (in May $133 million), including $15 million from participation in the joint venture ($17 million), EBITDA of the mining division stood at $85 million (in May $87 million), in particular from participation in the joint venture $11 million ($14 million). The expenses of the management company amounted to $9 million ($5 million).
Total revenue in June 2018 consisted of the metallurgical division's revenue in the amount of $958 million ($875 million in May), mining division in the amount of $278 million ($262 million), and intra-group sales of minus $140 million (minus $139 million).
The total debt of the company in June fell by $86 million compared to May, to $2.891 billion from $2.977 billion, while the amount of cash increased by $102 million, to $370 million from $268 million.