The CEO of Metalloinvest announced revenue of 190 billion rubles in the first half of the year
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Metalloinvest’s revenue in the first half of the year amounted to 190 billion rubles. This was announced by the company’s CEO Nazim Efendiev during a meeting between Russian President Vladimir Putin and heads of manufacturing enterprises.
According to Efendiyev, the holding’s capacities are fully loaded. “Metallurgists are also fully loaded. <…> We see today, half-year revenue – 190 billion rubles, almost at the level of last year. Pre-tax profit – 94 billion rubles. We have already paid 29 billion rubles in taxes,” leads his words TASS.
He noted that Metalloinvest was cut off from traditional markets, so today it is focused on the domestic market, where the company supplies almost 90% of pellets and iron ore concentrate. At the same time, Efendiyev sees prospects in cooperation with friendly countries, where there are huge reserves of natural gas, but there is not enough iron ore.
During the meeting, Efendiyev suggested extending corporate competitiveness programs (CPC) until 2030. He said that the pellets were not included in the list of export products that can go through the CPC procedure, but after applying to the Ministry of Industry and Trade, appropriate changes are being prepared. Putin specified that these programs would be extended.
Metalloinvest, according to its own data, is the world leader in the production of commercial HBI and the second in the production of pellets. The holding includes the Lebedinsky and Mikhailovsky mining and processing plants, as well as the Oskol Electrometallurgical Plant and the metal recycling company UralMetCom. 100% of the holding belongs to USM, the main shareholder of which is Alisher Usmanov (49%). According to the company’s website, Metalloinvest has not published financial and operating results since 2021. The company is under US and EU sanctions.
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