OJSC MMK published financial statements for the 1 st quarter of 2009, prepared in accordance with International Financial Reporting Standards (IFRS).
Port overview report, from the beginning of 2009 the company has been a considerable increase in profitability against a background of growth in production volumes. Thus, steel production and commodity steel products in 1 kv.2009 was increased by 26% and 24% respectively. Download in 1 square. 2009 (relative to average sales for the 9 mes.2008 city) has increased from 49% in quarter 4. In 2008 to 61%.
For the period under review, OAO MMK to positive EBITDA. EBITDA Margin parent company (OJSC MMK) for 1 square. In 2009 amounted to 19,4%. While the EBITDA margin for the quarter 1. 2009 Group of companies - 10.3%.
Thus, the parent company's earnings in quarter 1. 2009 decreased by 21% due to changes in the U.S. dollar, the value of EBITDA for the period was positive and amounted to $ 160 million, which is $ 589 million more than 4 square meters. 2008 Loss for the period amounted to $ 55 million, which is $ 390 million less than the 4 square. 2008
Value EBITDA IMC group companies for the period was positive and amounted to $ 99 million, which is $ 568 million more than the 4 square. 2008 Loss of CIM Group for the period amounted to $ 110 million, which is $ 292 million less than 4 square meters. 2008
Key indicators parent company OAO MMK ($ millions)
| ; | 4 square. 2008 | 1 square. 2009 | /- |
|---|---|---|---|
| Revenue OJSC MMK | 1 041 | 824 | -217 |
| EBITDA OJSC MMK | -429 | 160 | 589 |
| Margin EBITDA | -- | 19,4% | - |
| Profit for the period of OAO MMK | -445 | -55 | 390 |
Key figures consolidated statement of income groups CMI ($ million)
| ; | 4 square. 2008 | 1 square. 2009 | /- |
|---|---|---|---|
| Revenue Group CMI | 1 368 | 965 | - 403 |
| EBITDA * | -469 | 99 | 568 |
| CIM Group EBITDA Margin | -34,3 % | 10,3% | - |
| Profit for the period the Group CMI | ; -402 | ; -110 | 292 |
Download the parent company of 1 square. 2009 (relative to average sales for the 9 mes.2008 city) has increased from 49% in quarter 4. In 2008 to 61%. In doing so, the steel segment of the CMI was the most efficient in the industry in Russia. Currently, the company is working effectively to reduce costs - CMI has the lowest production costs in the metallurgical industry of Russia.
key performance indicators for the 1 st quarter of 2009 (thousand tons)
| ; | 4 square. 2008 | 1 square. 2009 | /- |
|---|---|---|---|
| Steel | 1648 | 2070 | 26% |
| Commodity metal | 1 542 | 1 917 | 24% |
Also CMI continues to focus on most profitable products - the 4-th metal processing, commodity slabs are made, the report says the company. CMI has the largest share of the proceeds from sales in the highly profitable domestic market.
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