Mechel’s steel production dropped by 4pc to 1.7mn mt in H1 2021 compared to 1.8mn mt in the year-ago period. Pig iron production fell by 12pc to 1.6mn mt in H1 2021 from 1.8mn mt in the same year-ago period.
Coal mining volumes declined by 37pc to 5.6mn mt in H1 2021 against 8.9mn mt in the year-ago period. Coking coal volumes decreased by 22pc to 2.4mn mt in H1 2021 compared to the same time frame in 2020.
Longs steel sales volumes fell by 4pc to 1.2mn mt while flat products also decreased by 3pc to 226,000mt in H1 2021 compared to the year-ago period. Longs and flats sales volumes, though, grew by 22pc and 15pc, respectively to 685,000mt and 121,000mt, in Q2 2021 against the preceding quarter.
Mechel’s revenues rose by 40pc to RUB184.9bn ($2.5bn) in H1 2021 compared to RUB131.8bn in the year-ago period. Revenues increased on strong sales and higher finished steel prices domestically and abroad. The company’s operating profit surged by 665pc to RUB43.4bn in H1 2021 from RUB5.7bn compared to the same period. EBITDA grew by 136pc to RUB52bn in H1 2021 compared to RUB22bn in the same time frame last year. EBITDA margin jumped from 17pc in H1 2020 to 28pc in the latest H1 2021 period.
Revenue breakdown by region in Q2 2021 was 56pc Russia, 19pc CIS, 18pc Europe, 4pc Middle East, and 3pc Asia.
Mechel’s revenues rose by 43pc to RUB108.90bn in Q2 against RUB76bn this year. The group operates in steel, mining, and power.
Rebar average sales price climbed by 16pc to RUB54,037/mt as carbon flat average prices grew by 29pc to RUB79,066/mt in Q2 2021 compared to the preceding quarter.
($1=RUB73.58)