NLMK's Q1 earnings up 31% to 10-year high

Earnings at Russia’s largest steelmaker, Novolipetsk Steel (NLMK), soared by 31% year-on-year in the first quarter of 2018 on favorable pricing conditions and higher export volumes.

NLMK’s earnings before interest, taxes, depreciation and amortization (Ebitda) for the three months totaled $812 million, against $618 million in the corresponding period last year, according to its latest financial statement.
“The widening of steel product/raw material price spreads, gains from completed capex projects, and operational efficiency gains were the key drivers behind the growth of Ebitda to a ten-year high,” the company said on Tuesday April 24.
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...

Published

Vlada Novokreshchenova

April 24, 2018

15:55 GMT

Dnepr