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MMK Group trading update for Q3 and 9M 2019

2019-10-15

Oct. 15, 2019 - МMK (LSE: MMK) announces its results for Q3 and 9M 2019.


ММК Group: Consolidated results (thousand tonnes) 




Q3 2019 highlights vs. Q2 2019 


1. MMK Group’s total sales of finished products in Q3 2019 totalled 2,897 thousand tonnes, up 1.4% quarter-on-quarter (q-o-q).

2. MMK Group’s sales of HVA products in Q3 2019 totalled 1,418 thousand tonnes, slightly down 0.6% qo-q. The share of HVA products in total sales amounted to 48.9%. 

3. MMK Coal’s coal concentrate production in Q3 2019 totalled 629 thousand tonnes, up 29.2% q-o-q.


9M 2019 highlights vs. 9M 2018 


1. MMK Group’s total sales of finished products in 9M 2019 totalled 8,535 thousand tonnes, down 2.2% year-on-year (y-o-y). 

2. MMK Group’s sales of HVA products in 9M 2019 totalled 4,181 thousand tonnes, up 2.6% y-o-y. The share of HVA products in total sales increased to 49.0%. 

3. MMK Coal’s coal concentrate production in 9M 2019 totalled 1,893 thousand tonnes, down 14.8% y-oy.


Outlook 


The Company's management expects that the seasonally weak business activity coupled with a significant correction in global prices will affect MMK Group’s performance in Q4 2019. 


The impact of these negative factors should be partly offset by higher operational efficiency and high capacity utilisation of high-margin production units. 


MMK is one of the world's largest steel producers and a leading Russian metals company. The company's operations in Russia span the entire value chain from iron ore processing to downstream production of rolled steel. MMK produces an extensive range of steel products with a predominant share of high-valueadded products. In 2018, the company produced 12.7 million tonnes of crude steel and 11.7 million tonnes of commercial steel products. MMK Group had sales in 2018 of USD 8,214 million and EBITDA of USD 2,418 million. 

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