OREANDA-NEWS. Metinvest B.V., the parent company of a vertically integrated group of steel and mining companies (jointly referred to as “Metinvest” or “the Group”), today published a trading update for the nine months ended 30 September 2014.

The information in this press release has been prepared based on preliminary financial results. Intragroup transactions have been eliminated in consolidation. This announcement does not contain sufficient information to constitute a full set of financial statements. The following preliminary results may differ from financial statements prepared in accordance with International Financial Reporting Standards (IFRS). The numbers in this press release have not been audited or reviewed.

Metinvest B.V. publishes consolidated financial statements prepared in accordance with IFRS for the six months ending 30 June and for the year ending 31 December. 

FINANCIAL HIGHLIGHTS

(US\$ million)

 

9M 2014

9M 2013

Change

Revenues

8,461

9,809

-14%

Adjusted EBITDA[1]

2,046

1,809

13%

margin

24%

18%

6 pp

CAPEX

412

426

-3%

 

 

 

(US\$ million)

30 Sep 2014

31 Dec 2013

Change

Total debt

3,627

4,308

-16%

short-term debt

1,765

1,718

3%

long-term debt

1,732

2,425

-29%

seller notes

130

165

-21%

Cash

397

783

-49%

Net debt[2]

3,230

3,525

-8%

Total debt to EBITDA[3]

1.4x

1.9x

-0.5x

Net debt to EBITDA3

1.3x

1.5x

-0.2x

Revenues