Magnitogorsk Metallurgical Combine's RAS net profit for 9 months of 2023 amounted to ₽87.537 billion, up 82.8% from ₽47.899 billion in the previous year. Revenue rose 6.3% to ₽487.35 billion against ₽458.33 billion a year earlier.

MMK's sales of marketable steel products for 9 months of 2023 increased by 10.9% to 8.893 million tons. Share of high value-added products decreased by 0.8 p.p. to 43.2%. Steel production increased by 11.4% to 9.869 million tons and pig iron production by 13.2% to 7.526 million tons. Coal concentrate production rose 1.1% to 2.671 million tons, while iron ore...

Magnitogorsk Metallurgical Combine's IFRS net profit for 6 months of 2023 amounted to ₽51.618 billion, down 9.1% from ₽56.788 billion in the previous year. Revenue declined 12.5% to ₽352.71 billion against ₽403.04 billion a year earlier.

MMK expects a record volume of product shipments to the Russian market in 2023, said Ilya Nechaev, Investor Relations Manager. In the first half of the year, the company shipped an average of 800 thousand tons to the Russian market, and in the CIS, sales were expanded to a corridor of 120-150 thousand tons. In the Turkish market, the company expects modest r...