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Mechel PAO reported FY 2020 consolidated revenue of 265.5 billion rubles, an 8% decline from 2019, with EBITDA dropping 23% to 41.1 billion rubles. Profit attributable to equity shareholders fell 66% to 808 million rubles due to weak coal prices and coronavirus impacts. Mining revenue decreased by 15%, while the steel segment saw a 5% drop in revenue. However, production increased overall: coal output rose 10%, pig iron by 6%, and steel by 1%. The company anticipates a 10% increase in steel output in 2021, focusing on environmental improvements with investments of 14.5 billion rubles.
Mechel PAO (NYSE: MTL) reported its 2020 operational results, navigating the challenges posed by the coronavirus pandemic without halting production or laying off staff. The company mined approximately 16 million tonnes of coal, a 10% increase from 2019. Demand for coal products surged, with spot prices for coking coal reaching $202 per tonne. Sales of thermal coals rose by 26%, while sales of iron ore concentrate fell by 16%. Despite mixed results, Mechel reaffirmed its commitment to increasing output in response to high demand in Asian markets.
Mechel PAO (NYSE: MTL) plans to announce its 2020 operational and financial results on March 11, 2021. As a leading Russian mining and metals company, Mechel operates a vertically integrated production chain from raw materials to high-value products, catering to markets across Europe, Asia, and the Americas. Investors are advised that forward-looking statements in the press release may differ from actual results due to various risks, including economic and regulatory factors.
Mechel Group reported a significant increase in rail sales for 2020, with 300,000 tonnes sold, representing an 8% increase from 2019. Key customer Russian Railways accounted for 234,000 tonnes, while exports saw a remarkable rise of 74%. The Chelyabinsk Metallurgical Plant contributed to this growth, expanding into new markets, including Georgia and Latin America. The company is also planning to enhance its rail product range. However, potential risks remain based on economic and geopolitical factors affecting performance.
Mechel PAO (MOEX:MTLR) has appointed Vladimir Osokin as the new Deputy Chief Executive Officer for ecology and environment protection—a newly established role. Previously an advisor to the CEO, Osokin will oversee modernization of production facilities and ecological programs. The company is investing over 13 billion rubles in environmental protection at its Chelyabinsk facilities. CEO Oleg Korzhov emphasized that this appointment reflects Mechel's commitment to ecological safety and high environmental standards across its operations.
Mechel Group (NYSE: MTL) reports a visit by Russia's Deputy Prime Minister Viktoria Abramchenko to its Chelyabinsk facilities. The delegation assessed the company’s ecological measures under the federal Clean Air project. Significant investments have been made, with a total of 79 billion rubles since 2001, including 10 billion rubles for ecological upgrades. An agreement was signed for an additional 13 billion rubles investment to reduce emissions by over 15,000 tonnes annually. CEO Oleg Korzhov highlighted ongoing upgrades and the commitment to environmental sustainability.
Mechel Group (NYSE: MTL) has signed a new agreement to accelerate ecological measures in Chelyabinsk. The plant will invest over 3 billion rubles to reduce waste emissions by 433 tonnes annually, including 330 tonnes of hazardous substances. The upgraded systems are set for completion by 2026. This agreement follows three others aimed at minimizing environmental impacts, including a 3.5 times reduction in wastewater emissions through a 1.5 billion ruble investment. The company aims for overall waste emission reductions of over 15,000 tonnes annually.
Mechel PAO (NYSE: MTL) announced an impressive 83% year-on-year increase in anthracite production, totaling 1.8 million tonnes for the first 11 months of 2020. This contrasts with 980,000 tonnes during the same period in 2019. Over 1.7 million tonnes have been shipped, with consumers in Europe and Asia Pacific. CEO Igor Khafizov emphasized growing demand in both Western and Eastern markets, attributing this success to a targeted equipment upgrade program. This positions Mechel as a key player in the global anthracite market.
Mechel PAO (NYSE: MTL), a significant player in the mining and metals sector, will announce its third quarter 2020 financial results on November 19, 2020. The company operates a comprehensive supply chain from raw materials to finished products, including coal and steel. In its communications, Mechel highlighted that forward-looking statements in the press release may differ from actual outcomes due to various risks, including changes in economic conditions and regulatory environments. Investors should stay alert for potential impacts on profitability and growth.
