Metinvest Posts USD 2.2 Billion Loss For 2022, Cuts Earnings 2.2 Times To USD 8.3 Billion

Metinvest Group ended 2022 with a loss of USD 2.193 billion against net income of USD 4.765 billion for 2021.

This is stated in the group's financial report, Ukrainian News Agency reports.

In 2022, Metinvest's earnings decreased 2.2 times, or by USD 9.7 billion, to USD 8.288 billion.

Also in 2022, the group reduced its Earnings before Interest, Taxes, Depreciation, and Amortization (EBITDA) 3.8 times, or by USD 5.2 billion, to USD 1.873 billion compared to 2021.

The group's capital investment in 2022 decreased 3.6 times, or by USD 926 million, to USD 354 million.

As Ukrainian News Agency earlier reported, in 2022, compared to 2021, Metinvest Group reduced production of finished products 2.6 times, or by 4.456 million tons, to 2.777 million tons.

Earlier, Metinvest filed a lawsuit in the European Court of Human Rights against Russia to compensate for the damage caused.

The main shareholders of Metinvest Group are SCM (71.24%) and Smart Holding Group (23.76%), which manage it as a partnership.

100% of SCM's shares are owned by businessman Rinat Akhmetov.