PJSC Magnitogorsk Iron and Steel Works (MMK)
PJSC Magnitogorsk Iron and Steel Works: MMK Board Meeting Results

03-Jun-2021 / 08:04 CET/CEST
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MMK board meeting results

 

3 june 2021

Magnitogorsk, Russia

 

 

PJSC Magnitogorsk Iron & Steel Works ("MMK", or "the Group") (MICEX-RTS: MAGN; LSE: MMK), one of the world's largest steel producers, announces that MMK's Board of Directors held a meeting on 2 June 2021.

At the meeting, the Board made the following decisions, among others:

  1. Victor Rashnikov was elected Chairman of MMK's Board of Directors;
  2. Four committees were formed:
  • The Audit Committee, chairman - Mikhail Oseevskiy;
  • The Nomination and Remuneration Committee, chairman - Valery Martsinovich;
  • The Strategic Planning Committee, chairman - Victor Rashnikov;
  • Health, Safety and the Environment Committee, chairman - Tav Morgan.
  1. Valery Martsinovich was recognized as the Independent Director;
  2. Was approved the Activity Plan of MMK's Board of Directors for 2021-2022.

 

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 premium products. In 2020, MMK produced 11.6 mln tonnes of crude steel and sold 10.8 mln tonnes of commercial steel products.

??K is an industry leader in terms of production costs and margins. Group revenue in 2020 totalled USD 6,395 mln, with an EBITDA of USD 1,492 mln. MMK boasts the industry's lowest debt burden. Net debt/EBITDA ratio was -0.06? at the end of 2020. The Group's investment-grade rating is confirmed by the leading global rating agencies Fitch, Moody's and S&P.

MMK's ordinary shares are traded on the Moscow Exchange, while its depositary receipts are traded on the London Stock Exchange. Free float amounts to 18.7%.

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Investor Relations Department

Veronika Kryachko
+7 (915) 380-62-66
kryachko.vs@mmk.ru

 

ESG DEPARTMENT

 

Yaroslava Vrubel
+7 982 282 9682
vrubel.ys@mmk.ru

 

Communications Department

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

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

 

KEY UPCOMING EVENTS IN 2020

Financial calendar

 

21 June

Virtual conference for retail investors, Smart-lab

22-25 June

Rencap flagship investor conference, online

14 July

Q2 and 6M 2021 Trading Update

22 July

Q2 and 6M 2021 IFRS financials

27 July

Virtual conference for retail investors,

VTB Capital

 

 



ISIN: US5591892048
Category Code: ROM
TIDM: MMK
LEI Code: 253400XSJ4C01YMCXG44
Sequence No.: 108988
EQS News ID: 1203883

 
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