MMK’s Program to add USD 686 Million to EBITDA

Release time：Nov 20, 2019 From：admin

Implementation of Magnitogorsk Iron and Steel Works investment strategy from 2015-2025 should add USD 686 million to the Company’s EBITDA per year. This was announced by MMK’s top management team at the company’s Capital Markets Day held in London on Friday, 15 November 2019. Successful development of MMK’s production facilities and the launch of new innovative and import-substituting products have allowed the company to become the leader in Russia in terms of HVA products output. At the same time, thanks to its conservative financial policy, the company has been able to generate stable cash flow paid out to shareholders as dividends on a regular basis.

MMK’s strategy is focused on sustainable development principles which reflect a balance between improvement in operational and financial performance and social responsibility along with environmental protection.

A key strategic priority of MMK is to improve the environmental situation in Magnitogorsk. Since 2000, the Company has reduced its impact on the city’s air by half, while reducing discharge of pollutants into water fivefold. The implementation of its environmental initiatives should allow MMK to reduce its air emissions and discharge of water pollutants by an additional 20% and 70%, respectively, by 2025.