NLMK Group (LSE: NLMK, MOEX: NLMK) has published today its Q4 2019 and 12M 2019* operating results. Steel output increased by 1% qoq to 3.8 m t, following the completion of major repairs at NLMK Lipetsk blast furnace and steelmaking operations. NLMK Group sales grew by 4% qoq to 4.2 m t.
12M 2019 highlights:
- Steel output decreased by 10% yoy to 15.7 m t, due to major repairs at NLMK Lipetsk blast furnace and steelmaking operations. Sales volumes decreased to 17.1 m t (-3% yoy), following the decrease in output.
- Sales to 'home' markets grew to 11.4 m t (+7% yoy), driven by growth of demand for finished flat steel and rebar in Russia. Russia accounted for 39% in Group sales (+6 p.p. yoy).
- Sales to export markets decreased by 15% yoy to 5.8 m t, due to a decrease in export sales of billets and lower pig iron sales amid major repairs at NLMK Lipetsk.
Q4 2019 highlights:
- Steel output grew by 1% qoq to 3.8 m t, driven by growth of production due to the completion of major repairs at NLMK Lipetsk BF and BOF operations. Steel output went down by 13% from Q4 2018.
- Sales volumes grew by 4% qoq to 4.2 m t, due to increased sales of pig iron.
- Sales to 'home' markets grew by 1% qoq to 2.9 m t, due to higher sales of hot-rolled steel and long products in Russia. The share of Group sales in Russia totalled 43% (+1 p.p. qoq).
- Sales to export markets reached 1.3 m t (+2% qoq), as slab supplies were redirected to NBH.
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NLMK_Trading_Update_4Q_2019 ENG.pdf
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NLMK_Operating_Results_4Q_2019 ENG.xlsx
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