MMK expects its Q2 2021 sales to be better due to a growth in demand for steel in Russia, following positive dynamics in the construction sector.
Improvement in steel prices internationally will also help the company’s prices to improve, it said in a statement. Additionally, the company has implemented various initiatives and strategies to further boost its profitability in this quarter.
Recently the company announced that its crude steel output rose by 9.2pc in Q1 2021 compared to the same period in 2020.
Its revenue in the first quarter of the year grew by 27.8pc to $2.1bn compared to 1.7bn in Q1 2020 while it increased by 18pc from $1.8bn in Q4 2020.
Its EBITDA saw a 64.3pc rise to $726mn in the first quarter of 2021 compared to $442mn in the same quarter last year while it rose by 53.2pc from $474mn in the previous quarter.