Metinvest did not publish data on net profit in the financial report for 9 months of 2015

Dutch company Metinvest B.V. announced preliminary financial results for the nine months ended September 30, 2015. At the same time, there is no data on the company's net profit or loss in accordance with International Financial Reporting Standards (IFRS).

In the first nine months of 2015, Metinvest's revenue decreased by 36 percent compared to the same period last year (APPG). At the same time, the company's revenue in Ukraine decreased by 41 percent compared to the APPG - to 1 billion 204 million US dollars.

Domestic sales of the Mining and Metals divisions declined 54 percent and 32 percent, respectively, compared to the same period last year.

“The drop in demand occurred against the backdrop of the conflict in eastern Ukraine and the general economic downturn. The situation was aggravated by a decline in sales prices, as prices for raw materials and steel products continued to fall and reached new record lows over the past few years, ”Metinvest said.

As a result of the drop in revenue for 9 months of 2015, Metinvest's EBITDA decreased by 63 percent compared to the same period to USD 813 million. EBITDA margin decreased 11 pp yoy to 15 percent.

The cash balance of Metinvest at the end of the reporting period was USD 198 million.

As of September 30, 2015, Metinvest's total debt decreased by $ 266 million from the beginning of the year to 2,966 billion.

Metinvest is the largest producer of iron ore and steel in Ukraine and one of the largest producers of iron ore and steel in the CIS. The company is one of the ten largest producers of iron ore and heavy-plate products.

The main shareholders of Metinvest Group are Rinat Akhmetov's SCM Group (71.24 percent of shares) and Vadim Novinsky's Smart Holding Group (23.76 percent), which participate in the management of Metinvest on a partnership basis.

The main holding company of Metinvest Group is Metinvest B.V. (Netherlands, registration number 24321697), whose office is located at Alexanderstraat 23, 2514JM's-Gravenhage, the Netherlands.