OREANDA-NEWS. October 28, 2010. Metinvest shows significant improvement in financial stand in interim results for the 1H2010, published Oct 28. Consolidated revenue grew nearly 50% yoy to USD  4,187mn thanks to improved output and prices. EBITDA margin grew by amazing 119% yoy to reach USD  1,193mn. The bottom line has improved by 144% yoy to reach USD 524mn. The group remains slim on borrowings with the net debt at USD  2,686mn.

Millennium Capital: the news is POSITIVE for Metinvest bonds as the group significantly improved its’ financial performance in 1H2010. All segments increased both their physical output and net revenue. Significant 41% yoy increase in iron ore extraction and worldwide prices boom for steelmaking inputs resulted in more than twofold revenue growth in the mining divisions of the group. The group maintains robust cost control, displayed in generous EBITDA margin of 29%, and successfully carries the improvements in revenue down to its bottom line which results in USD half-billion net income.