Metalloinvest Finance Designated Activity Company
METALLOINVEST ANNOUNCES FY 2021 IFRS FINANCIAL RESULTS
Metalloinvest Finance Designated Activity Company (IRSH)
METALLOINVEST ANNOUNCES FY 2021 IFRS FINANCIAL RESULTS Moscow, Russia – 24 February 2022 – Metalloinvest (“the Company”), a leading global iron ore and HBI producer, and one of the regional producers of high-quality steel, today announces its audited IFRS financial results for the full year ended 31 December 2021. 2021 HIGHLIGHTS
Nazim Efendiev, CEO of Management Company Metalloinvest, commented: “The past year has been significant for us for several reasons. In 2021, Metalloinvest celebrated its 15th anniversary. The Company became the global leader in iron ore reserves, the first globally in the production of commercial hot briquetted iron, and the second largest pellets producer in the world. The financial year ended with a record EBITDA in the Company’s history, reaching USD 5.75 bn, the leverage was reduced to 0.45x, and three international agencies upgraded the Company’s credit rating to investment grade. The significant capital expenditure in 2021, in the amount of more than USD 870 mn, together with the signing of two agreements for the construction of new HBI production facilities will further strengthen the Company’s position as a leading supplier of high-quality products for green metallurgy. Sustainability is our strategic priority. During the reporting period, the Company’s ESG ratings were improved, and a high score was received in our debut CDP rating. The creation of the Sustainable Development Committee at the Board of Directors level with two new independent members will allow us to continue to improve in this area. We highly appreciate the professionalism of our employees and are implementing a set of support measures aimed at wage increases and the introduction of the best health and safety practices at production sites.” KEY CORPORATE HIGHLIGHTS Operational developments and growth projects
Financing
ESG developments
Full press release and financial statements are available at: https://www.metalloinvest.com/investors/financial-results/
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About Metalloinvest Metalloinvest is a leading metals and mining company with the largest proven iron ore reserves on a JORC-equivalent basis (15.4 billion tonnes and about 150 years of reserve life). The company is the world’s largest producer and supplier of merchant hot briquetted iron (HBI) products, a low-carbon raw material used to produce green steel; Metalloinvest holds a leading position in the production of pellets, iron ore concentrate and high-quality steel. The company has 10+ years track record on public debt capital markets with high credit ratings: S&P (BBB-/stable), Fitch (BBB-/stable), Moody’s (Baa3/stable), АCRА (AA+(RU)/positive). Alisher Usmanov is the main beneficiary of the company (with a 49% stake) through Holding Company USM LLC. Ticker (Bloomberg): METIN RU; official website: www.metalloinvest.com [1] On 2 February 2022 the Group signed a share purchase agreement with Zagorsky Pipe Plant (ZTZ) to sell 100% shares of Ural Steel. The Group expects to complete the sale in February 2022. Ural Steel was presented as discontinued operation in the published IFRS results. Management expects that operations between Ural Steel and Metalloinvest Trading AG is going to continue after disposal. This press-release shows financial figures for both continued and discontinued operations, unless stated otherwise. [2] Hereinafter EBITDA stands for EBITDA adjusted according to IFRS requirements [3] Hereinafter iron ore refers to iron ore concentrate and sintering ore [4] 55% owned by USM Metalloinvest LLC |
ISIN: | XS0918297382 |
Category Code: | MSCH |
TIDM: | IRSH |
Sequence No.: | 145205 |
EQS News ID: | 1287927 |
End of Announcement | EQS News Service |