MMK IFRS net profit rises 15.8% to $279 mln in Jan–Mar

MOSCOW, May 8 (PRIME) -- The net profit of Russia’s Magnitogorsk Iron and Steel Works (MMK) rose 15.8% on the year to U.S. $279 million in January–March, as calculated under International Financial Reporting Standards (IFRS), the company said in a report Tuesday.

Revenue increased 23.8% to $2.055 billion, while earnings before interest, taxes, depreciation, and amortization (EBITDA) grew 23.9% to $560 million.

For further details, please, see the company’s report on its official website:

http://eng.mmk.ru/upload/iblock/368/MMK_IFRS_1Q2018_ENG.pdf

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