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MarketScreener Homepage  >  Equities  >  Moscow Micex - RTS  >  Magnitogorsk Iron & Steel Works    MAGN   RU0009084396

MAGNITOGORSK IRON & STEEL WORKS

(MAGN)
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Magnitogorsk Iron & Steel Works : MMK-Lysvensky Metallurgical Plant's shift to cyclic loading

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04/15/2020 | 10:14am EDT

PJSC Magnitogorsk Iron & Steel Works' ('MMK', or 'the Company') (MICEX-RTS: MAGN; LSE: MMK), one of the world's largest steel producers, announces that MMK-Lysvensky Metallurgical Plant (MMK-LMP) shifts to cyclic loading mode with positive outlook for the rest of 2020.

MMK-LMP announces that in the current absence of guaranteed demand for the company's key metal products, its management has decided to switch to a cyclic loading mode.

While continuing production and shipment of orders placed by key clients, the company plans to carry out unscheduled preventive maintenance during the production breaks.

In accordance with MMK-LMP's forecast, based on a conservative stress test, the company will demonstrate positive EBITDA and positive cash flow in 2020.

MMK-LMP (part of the MMK Group) is one of the oldest enterprises in the Urals. MMK-LMP is the only manufacturer of electrolytically galvanised steel and products with protective polymer coatings on its basis in Russia. Cold-rolled products and materials of the highest quality from leading manufacturers are used for the production of metal products at MMK-LMP. MMK-LMP's laboratory carries out multi-stage control with subsequent certification of the finished metal products.

About MMK

MMK is one of the world's largest steel producers and a leading Russian metals company. The Company'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, the Company produced 12.5 mln tonnes of crude steel and 11.3 mln tonnes of commercial steel products.

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%.

Contact:

Veronika Kryachko

Tel: +7 (3519) 25-75-01

Email: kryachko.vs@mmk.ru

(C) 2020 Electronic News Publishing, source ENP Newswire

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Financials (USD)
Sales 2020 6 464 M - -
Net income 2020 689 M - -
Net Debt 2020 59,3 M - -
P/E ratio 2020 7,10x
Yield 2020 11,7%
Capitalization 6 090 M 6 057 M -
EV / Sales 2019
EV / Sales 2020 0,95x
Nbr of Employees 17 887
Free-Float 15,7%
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Technical analysis trends MAGNITOGORSK IRON & STEEL
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Mean consensus OUTPERFORM
Number of Analysts 2
Average target price 0,67 $
Last Close Price 0,54 $
Spread / Highest target 61,1%
Spread / Average Target 22,1%
Spread / Lowest Target -4,95%
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Managers
NameTitle
Pavel Vladimirovich Shilyaev Chief Executive Officer & Director
Victor Filippovich Rashnikov Chairman
Maria V. Nikulina Head-Finance Resources
Vadim N. Feoktistov Chief Information Technology Specialist
Zumrud Khandadashevna Rustamova Non-Executive Director
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