MMK says IFRS JanuaryЦJune net profit slumps by 26% to $497 mln
MOSCOW, Aug 1 (PRIME) -- The net profit of RussiaТs Magnitogorsk Iron and Steel Works (MMK) fell 25.9% on the year to U.S. $497 million in JanuaryЦJune, as calculated under International Financial Reporting Standards (IFRS), the company said in a statement on Thursday.
Revenue went down 7.8% on the year to $3.835 billion in the period.
Earnings before interest, taxes, depreciation, and amortization (EBITDA) decreased 22.6% to $937 million, with the EBITDA margin shrinking to 24.4% from 29.1%.
For further details, see the companyТs statement on its official website: http://eng.mmk.ru/upload/medialibrary/15b/Press_release_IFRS_2Q2019_ENG.pdf