Q3 2021 key highlights:

­ - MMK Group’s revenue decreased by 6.9% quarter-on-quarter (q-o-q) to USD 3,031 mln, which reflects a decline in sales volumes partially offset by higher global steel prices.
­ - EBITDA declined by 19.4% q-o-q to USD 1,157 mln, mainly due to lower revenue and the impact of export duties. EBITDA margin decreased by 5.9 p.p. to 38.2%.
­ - Net profit was USD 819 mln, down 20.6% q-o-q as a result of lower margins.
­ - FCF decreased by 25.0% q-o-q to USD 409 mln, reflecting EBITDA adjustments and working capital build-up due to higher export sales with longer lead times amid higher average prices.

9M 2021 key highlights:

­ - MMK Group’s revenue for 9M 2021 increased by 86.5% year-on-year (y-o-y) to USD 8,471 mln, reflecting higher sales due to the completion of Hot-Rolling Mill 2500’s modernisation and an upward trend in market prices for metal products.
­ - EBITDA more than tripled year-on-year to USD 3,318 mln due to revenue growth and last year’s low base. EBITDA margin was up 16.8 p.p. to 39.2%.
­ - Net profit increased significantly year-on-year to USD 2,327 mln, mainly reflecting increased business margins amid positive trends in global markets.
­ - FCF for 9M 2021 increased to USD 1,079 mln amid positive market dynamics.
The full version of the press-release can be found here