In January-September 2023, compared to the same period last year, Metinvest Group reduced the production of finished products 2.7 times, or by 922,000 tons, to 0.547 million tons, at the same time, compared to the 4th quarter of 2022, the production of finished products increased by 28%, or by 120,000 tons.
Metinvest has said this in a statement, Ukrainian News Agency reports.
In particular, the production of flat rolled products decreased by 828,000 tons against the same period in 2022 - due to the shutdown of Mariupol mills since the end of February 2022, as well as due to a change in the order book in favor of hot-rolled thick sheets at Ferriera Valsider in Italy.
At the same time, the production of long rolled products decreased by 66,000 tons - mainly due to the shutdown of production at Azovstal and a decrease in the production of finished products at Kametstal against the background of unstable electricity supplies year-on-year.
In the 1st quarter, there was no production of rail and pipe products, since the products were manufactured at Mariupol mills.
Also, in the 1st quarter, iron and steel production decreased against the same period last year four times to 0.448 tons and 0.491 million tons due to the shutdown of Mariupol mills, as well as the transition to work with two blast furnaces, instead of three, at Kametstal.
In the 1st quarter of 2023, the production of total iron ore concentrate decreased against the same period of the previous year 2.7 times to 2.3 million tons.
The production of commercial iron ore products decreased 2.1 times to 1.9 million tons, including concentrate - 3.9 times to 0.7 million tons.
At the same time, the production of product rolls, due to the reorientation of the order portfolio, decreased by 6% to 1.2 million tons.
In the first quarter of 2023, coal concentrate production increased by 14% to 1.461 million tons compared to the same period in 2022, due to an increase in production at American mines and an improvement in the quality characteristics of Ukrainian coking coal.
As Ukrainian News Agency earlier reported, Metinvest Group ended 2022 with a loss of USD 2.193 billion against the net profit of USD 4.765 billion for 2021.
In 2022, the group's revenue decreased 2.2 times, or by USD 9.7 billion, to USD 8.288 billion.
In 2022, compared to 2021, Metinvest Group reduced production of finished products by 2.6 times, or 4.456 million tons, to 2.777 million tons.
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.
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