NLMK Q1 earnings double, driven by higher steel, raw materials prices

Earnings at Russia’s largest steelmaker, Novolipetsk Steel (NLMK), more than doubled year-on-year in the first quarter of 2017, the company said on Thursday April 27.

NLMK’s total earnings before interest, taxes, depreciation and amortisation (Ebitda) were $618 million in the January-March quarter, up from $290 million in the corresponding quarter last year. In Russia, the steelmaker operates a flat steel complex in Lipetsk, as well as two long steel mills – Nizhniye Sergi in the Sverdlovsk region and another in the Kaluga region. The company also runs re-rolling flat steel facilities in Denmark and the USA. The Russian flat steel division contributed...

Published

Vlada Novokreshchenova

April 27, 2017

21:30 GMT

Dnepr