Net profit MMK has fallen in six months, almost three times

the group Net profit “Magnitogorsk metallurgical combine” (MMK) under IFRS amounted at the end of the first half of 2020 $189 million, which is 2.6 times less than in the same period last year, follows from materials of the company.

Revenue declined in January—June by 22.3% yoy to $2,978 billion.

following the results of II quarter of current year EBITDA (earnings before interest, taxes, depreciation and amortization) of the MMK group fell by 49% relative to the previous three months to $226 million Quarterly revenue decreased by 26%, to $1,268 billion.

the group’s Net debt rose in April—June to $237 million versus $30 million a quarter earlier.