NLMK says IFRS net profit quadruples to $5 bln in 2021

MOSCOW, Feb 3 (PRIME) -- The net profit of Russian steelmaker Novolipetsk Steel (NLMK) more than quadrupled on the year to U.S. $5.036 billion in 2021, as calculated under International Financial Reporting Standards (IFRS), the company said in a statement on Thursday.

Revenue rose by 75% to $16.196 billion, and earnings before interest, taxes, depreciation, and amortization (EBITDA) almost tripled to $7.263 billion.

In October–December, the net profit decreased by 21% on the year to $1.28 billion, while revenue grew by 2% to $4.63 billion, and EBITDA fell by 23% to $1.758 billion.

The net debt increased by 7% in October–December to $2.924 billion as of December 31. The net debt/EBITDA ratio fell to 0.4x from 0.43x.

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

https://nlmk.com/en/media-center/press-releases/nlmk-group-q4-2021-ifrs-financial-results-/

(76.4849 rubles – U.S. $1)

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