NLMK says IFRS net profit quadruples to $312 mln in July–September

MOSCOW, Oct 21 (PRIME) -- The net profit of Russian steelmaker Novolipetsk Steel (NLMK) more than quadrupled on the quarter to U.S. $312 million in July–September, as calculated under International Financial Reporting Standards (IFRS), the company said in a statement on Wednesday.

Revenue rose by 3% to $2.229 billion and earnings before interest, taxes, depreciation, and amortization (EBITDA) decreased by 1% to $579 million. Free cash flow dropped by 21% to $239 million.

The net debt increased by 6% to $1.946 billion as of June 30. The net debt/EBITDA ratio rose to 0.87 from 0.79.

For further details, please see a statement on the website of the company:

https://nlmk.com/en/media-center/news-groups/nlmk-group-q3-and-9m-2020-ifrs-financial-results/

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