NLMK IFRS net profit soars 63% to $1 bln in January–September
MOSCOW, Oct 27 (PRIME) -- The net profit of Russian steelmaker Novolipetsk Steel (NLMK) soared by 63% on the year to U.S. $1.022 billion in January–September, as calculated under International Financial Reporting Standards (IFRS), the company said in a statement on Friday.
Revenue grew 28% on the year to $7.25 billion in the period, and earnings before interest, taxes, depreciation and amortization (EBITDA) went up 31% to $1.869 billion.
In July–September, the net profit of NLMK increased 4% on the quarter to $357 million, revenue remained almost flat at $2.544 billion, and EBITDA gained 7% to $648 million.
The net debt of the company contracted 29% in the third quarter to $743 million as of September 30. The ratio of the net debt to EBITDA decreased to 0.31 from 0.43.
For further details, see the company’s statement on its official Web site:
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