Company Announcements

PJSC Magnitogorsk Iron and Steel Works: Publication of Report on Payments to Governments in 2019

Source: EQS

PJSC Magnitogorsk Iron and Steel Works (MMK)
PJSC Magnitogorsk Iron and Steel Works: Publication of Report on Payments to Governments in 2019

23-Jun-2020 / 08:58 CET/CEST
Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group.
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Publication of report on payments to governments in 2019

 

23 june 2020

Magnitogorsk, Russia

 

 

PJSC MMK ("MMK", or "the Group") (MICEX-RTS: MAGN; LSE: MMK), one of the world's largest steel producers, today publishes its Report on payments to governments in 2019 ("the Report").

The Report is prepared in accordance with the requirements of the Disclosure and Transparency Rules Instrument 2014 «Report on payments to governments», issued by the Financial Conduct Authority (FCA's Instrument).

The Report provides citizens, authorities and independent users with the information on payments made to governments where MMK conducts its extractive activities.

Since the Group performed extractive activity in Russia only, the Report discloses payments to governments made by Russian companies only.

The amounts relating to mining operations only are disclosed as the payments. For the purposes of this Report mining exploration means the process of exploration, development of mineral deposits and mining operations.

 

The Report is published on the official MMK website.

The Report have been submitted to the National Storage Mechanism and will shortly be available for inspection at https://data.fca.org.uk/#/nsm/nationalstoragemechanism.

 

About MMK

MMK is one of the world's largest steel producers and a leading Russian metals company. The Group's operations in Russia include a large steel-producing unit encompassing the entire production chain, from the preparation of iron ore to downstream processing of rolled steel. MMK turns out a broad range of steel products with a predominant share of high-value-added products. In 2019, MMK produced 12.5 mln tonnes of crude steel and 11.3 mln tonnes of commercial steel products.

ММК is an industry leader in terms of production costs and margin. MMK Group had revenue in 2019 of USD 7,566 mln and EBITDA of USD 1,797 mln. MMK's debt load is the lowest for the industry. Net debt/EBITDA ratio was -0.13х at the end of 2019. The Group's investment-grade rating is confirmed by the leading global rating agencies Fitch, Moody's, S&P.

MMK's ordinary shares are traded on Moscow Exchange, while its depositary receipts are traded on the London Stock Exchange. Free float amounts to 15.7%.

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Investor Relations Department

Veronika Kryachko
+7 (3519) 25-75-01
kryachko.vs@mmk.ru

 

 

media contacts

Dmitriy Kuchumov  
+7 (499) 238-26-13
kuchumov.do@mmk.ru

Oleg Egorov
+7 (499) 238-26-13
egorov.oa@mmk.ru

 

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22 October

Q3 and 9M 2020 IFRS financials

 

 



ISIN: US5591892048
Category Code: PGR
TIDM: MMK
LEI Code: 253400XSJ4C01YMCXG44
Sequence No.: 71275
EQS News ID: 1076159

 
End of Announcement EQS News Service

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