NLMK’s net profit under IFRS in the first half of the year amounted to 91.75 billion rubles
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Net profit of Novolipetsk Iron and Steel Works (NLMK) (MOEX: NLMK) according to IFRS for the first six months of 2023 amounted to 91.75 billion rubles, follows from reporting. Revenue for the same period amounted to 505.7 billion rubles. The company did not publish financial results under IFRS for 2022.
NLMK’s gross profit, according to reporting, amounted to 202.75 billion rubles, profit before tax – 119.64 billion rubles. In the second quarter, the company’s net profit reached 59.1 billion rubles, and revenue – 289.4 billion rubles.
The last time NLMK published financial statements under IFRS was in February 2022 (for 2021). According to the company’s reporting under RAS, in the first half of 2023, net profit amounted to 73.1 billion rubles, and revenue – 348.14 billion rubles.
In September, NLMK sold its high-quality plants in the Kaluga region and the Urals to structures associated with the owner of the Industrial and Metallurgical Holding, Evgeny Zubitsky. Analysts estimate the deal at 60 billion rubles, which NLMK will be able to spend on strengthening its position in the domestic market.
About the sale of varietal assets by the holding – in the material of Kommersant “NLMK threw off the fittings”.
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