Financial results of Metalloinvest for 2016

Metalloinvest, the world's leading iron ore and HBI producer and a regional producer of high quality steel, has released its audited IFRS financial results for the year ended 31 December 2016.

Financial Indicators
Income USD 4261 million (-3.0% year on year);
EBITDA USD 1,258 million (-12.2%);
EBITDA margin of 29.5% versus 32.6% in 2015;
Net income of USD 1,153 million against USD 218 million in 2015;
Net debt USD 3161 million (-11.3% compared to December 31, 2015);
Net Debt /EBITDA 2.5x, flat versus 31 December 2015;
Capital expenditures USD 290 million (-30.5%);
Total assets of USD 6201 million (-6.3% compared to December 31, 2015).

Performance Indicators
Iron ore 40.7 million tons (+ 3.1%);
Pellets 25.2 million tonnes (+ 5.9%);
HBI /DRI 5.7 million tonnes (+ 4.8%);
Pig iron 3.0 million tons (+ 20.2%);
Crude steel 4.7 million tonnes (+ 3.6%);

Operations and Capital Expenditures
Achievement of design capacity at OM # 3 at Mikhailovsky GOK;
Launching blast furnace No. 4 at Ural Steel after the completion of overhaul and modernization;
Commissioning of the second gas purification unit in the electric arc furnace of the OEMK workshop;
Completion of cold tests at HBI-3 plant at Lebedinsky GOK.