6 Feb 2024 11:34

MMK increases EBITDA 26% in 2023 to 195.6 bln rubles

MOSCOW. Feb 6 (Interfax) - Magnitogorsk Iron and Steel Works increased EBITDA 26.2% in 2023 to 195.6 billion rubles, the company said in a statement.

The average EBITDA forecast for the company from analysts who took part in an Interfax survey was 191.5 billion rubles.

EBITDA margin was 25.6%, an increase of 3.4 percentage points.

Revenue last year grew 9.1% to 763.4 billion rubles (the consensus forecast was 748 billion rubles), while net profit rose 68.2% to 118.4 billion rubles.

Net debt remained negative at minus 89.3 billion rubles, and the net debt/EBITDA ratio was minus 0.46x.

MMK's Free Cash Flow decreased 58% last year to 30.7 billion rubles (the consensus forecast was 31 billion rubles).