MMK placed US$500 mm Eurobonds

Magnitogorsk Iron and Steel Works (“MMK”), one of the largest steel suppliers in Russia rated Baa2 (Moody’s) / BBB (Fitch) / BBB- (S&P), returned to the international market after more than 15 years with a successful placement of 5-year US$500mm Eurobonds with an annual coupon rate of 4.375% payable semi-annually. The proceeds of the issue will be used for general corporate purposes. The issue was oversubscribed by over 4.5 times with the total order book exceeding US$2.2 bn at the peak. The ...
21 June 2019., 14:34   comment

MMK partners with Deloitte to develop new digitalisation strategy

Magnitogorsk Iron and Steel Works (MMK) has partnered with Deloitte CIS to create a digitalisation strategy for the Company. The agreement was signed during the St. Petersburg International Economic Forum. MMK has decided to update its digital portfolio as part of the Company's overall development strategy up to 2025. To do this, Deloitte CIS will prepare a roadmap for the digitalisation of the Company in the medium term. It will include the most effective projects to help MMK achieve strategic ...
06 July 2019., 14:39   comment

MMK develops cooperation with consumers in Siberia

Deliveries of MMK's rolled steel to pipe companies in the Siberian Federal region have doubled since the beginning of the year. The region accounts for about 10% of the plant’s sales of the relevant products. The Company plans to further expand its presence in the domestic market. Deputy General Director of Sales at PJSC MMK Sergei Ushakov spoke about this at a conference for consumers of MMK's steel products in the Siberian Federal region. The event was held in Novosibirsk on the premises of ...
05 August 2019., 12:03   comment

MMK expands its range of metal products with high added value

PJSC Magnitogorsk Iron and Steel Works (MMK) shipped the first batch of rolled products with new consumer properties. Improved quality characteristics of hot-rolled sheet metal are obtained through the use of a unique technology which cleans scale from the surface of the sheet. The emergence of new steel products with unique quality properties was made possible by the implementation of a project by Kama-Trade Tatarstan to construct a Brandsteel Service Metalworking Centre (SMC) which has the ...
19 April 2019., 15:20   comment

MMK increases sales for its SteelArt polymer-coated products

It has been three years since the commissioning of the polymer-coating unit No. 5 at the Lysvensky Metallurgical Plant, which currently manufactures products with decorative designs under the SteelArt brand. These products consist of a metal base with a three-layer polymer coating, which accurately imitates the look and feel of natural materials such as stone, wood, brick and others, as well as being much cheaper and easier to install. The product has a number of advantages relating to its base ...
04 March 2019., 12:30   comment

MMK Board of Directors Recommends Dividends For Q4 2018

PJSC Magnitogorsk Iron & Steel Works ("MMK" or "the Company”, ticker: MMK:LI) announces that on 8 February 2019 the Company’s Board of Directors recommended that the Annual General Meeting of shareholders approve a dividend of RUB 1.398 (before taxes) per share for the fourth quarter of 2018 on MMK’s issued ordinary registered shares. The dividend will represent the total of approximately USD 239 mln at the current exchange rate, which equals to 100% of the Company’s FCF for Q4 2018. As a result, ...
15 February 2019., 14:22   comment

MMK Group Financial Statements

Q4 2018 highlights vs Q3 2018 The decrease in revenue for Q4 2018 was due to the fall in the average sale price of finished products against a backdrop of a seasonal decrease in sales of steel products. In Q4 2018, the cost of sales grew q-o-q, mainly due to higher prices of key raw materials on the domestic market. As a result, EBITDA decreased by 20.0% on the previous quarter. EBITDA margin amounted to 27.4%. Quarterly profit amounted to USD 245 mln. One-off factors that had an impact on profit ...
02 August 2019., 16:15   comment

MMK's hot-rolled products Mill 2000 sets annual production record

PJSC Magnitogorsk Iron and Steel Works’ (MMK) hot-rolled products Mill 2000 achieved its maximum annual production rate in 2018, for the second time since its launch, breaking the 6 million tonne mark for production of hot-rolled products. The previous record was set at the end of 2016, when the annual output of the mill reached 5.948 million tonnes of hot-rolled steel. In 2018, the figure was 6.002 million tonnes. MMK's most productive rolling mill is located in sheet-rolling shop No. 10. This ...
02 May 2019., 11:37   comment

MMK Group Trading Update for Q4 and FY 2018

Q4 2018 highlights vs. Q3 2018 MMK Group’s total sales of finished products in Q4 2018 totalled 2,936 thousand tonnes, down 3.8% quarter-on-quarter (q-o-q). MMK Group’s sales of HVA products in Q4 2018 were 1,349 thousand tonnes, almost flat q-o-q. The share of HVA products in total sales increased to 45.9%. MMK Coal’s coal concentrate production in Q4 2018 totalled 781 thousand tonnes, down 3.4% q-o-q. FY 2018 highlights vs. FY 2017 MMK Group’s total sales of finished products in FY 2018 totalled ...
25 January 2019., 14:49   comment

MMK reaches new record resilience for steelmaking unit lining

Magnitogorsk Iron and Steel Works (MMK) has achieved a new record indicator for the resilience of the refractory lining of the main arch of the two-hearth furnace (THF) at the electric steel smelting shop. Refractories, which face the internal surface of a furnace, withstood 1,321 melts. The previous highest indicator (1,265 melts) was set just three months ago. An increase in the numbers of melts per lining supports higher output, reduces operational costs and increases production efficiency ...
26 December 2018., 12:37   comment

MMK named among the best enterprises in Russia in rating by WWF

The rating was initiated by the World Wide Fund for Nature (WWF) of Russia and the United Nations Environment Programme (Russian Federation Mission). The rating was carried out by the National Rating Agency on the basis of data on the activities of companies which was publicly available (reports, reports, media, official websites of companies). The final rating was formed based on the analysis of three components: the company's environmental management, environmental impact and disclosure of ...
18 December 2018., 11:48   comment

MMK receives gold at Metal-Expo

Magnitogorsk Iron and Steel Works (MMK) became the winner of the 24th International Industrial Exhibition "Metal-Expo`2018". The company won a gold medal for the development and implementation of a production logistics data system, allowing for a significant increase in productivity. The prize was awarded at the end the forum held in Moscow on November 13-16. Competition winners include leading Russian metallurgical companies and research teams that have developed and successfully introduced ...
28 November 2018., 11:27   comment

MMK open for industrial tourism

Magnitogorsk Iron and Steel Works (MMK) has launched a project which allows guests to visit the company’s production site. Several sightseeing tours are now readily available to tourists. ‘Taming the Fire’ – This tour includes a visit to Russia’s largest blast furnace plant and the unique complex of Mill 5000 whose products are used to supply manufacturers of large diameter pipes, as well as shipbuilding and bridge construction companies. You can visit the workshops and the plant’s science and ...
19 October 2018., 14:49   comment

MMK to help develop standards for technology and innovation

Magnitogorsk Iron and Steel Works will take part in the Expert Group for the Development in Russia of Standards for the Implementation of Technology and Innovation. A unified methodology will increase demand for Russian technology and help boost Russian companies’ competitiveness. The Standards will constitute recommendations on working with external innovations, along with other measures aimed at making large companies more efficient and creating a supportive business environment for new technologies ...
14 September 2018., 16:47   comment

MMK’s environmental efforts and resource management recognized by industry competition

Magnitogorsk Iron and Steel Works (MMK) won the XV industry competition titled ‘Metal and Mining Enterprises with Highly Effective CSR’. The competition participants were 61 metal and mining enterprises. For the second year in a row, MMK is amongst the winners in the category ‘Environmental Protection and Resource Management’. MMK’s investments in environment protection last year exceeded 4 billion rubles. The company undertook a number of large ecological projects including: the reconstruction ...
07 September 2018., 11:43   comment