Metalloinvest 2011 Net Profit Rises 19%

Metalloinvest, one of Russia’s leading metals producers, saw its 2011 IFRS net profit increase 19.4 percent year-on-year to $1.432 billion, the firm said on Wednesday.

The company’s revenue rose 38.7 percent to $9.919 billion. Metalloinvest’s EBITDA rose 49.7 percent last year to $3.873 billion, while the EBITDA margin went up to 39 percent in 2011 from 36.2 percent in 2010.

“Throughout 2011, Metalloinvest has undertaken a number of targeted measures to create a basis for the company’s sustainable development, including the improvement of corporate governance, introducing the principles of corporate social responsibility and best practice information disclosure,” Metalloinvest CEO Eduard Potapov was quoted in the statement as saying.

The company’s net debt amounted to $4.432 billion as of December 31, 2011, a 11 percent increase year-on-year, while net debt/EBITDA ratio was 1.1 last year against 1.5 in 2010.


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