19 November 2023

Metinvest publishes operating report for Q3 2023.

According to the report, the group's steel production during the reporting quarter amounted to 499,000 tons (491,000 tons during the first quarter of 2023, 541,000 - in the second quarter). Only the production volume at Kametstal was reported as Metinvest Group output, while the production at Zaporizhstal (Metinvest's share is 50%) is not included in the consolidated group data.

During the reporting quarter, Zaporizhstal produced 727,000 tons of steel, +16% q-o-q.

Y-o-y dynamics is highly positive for both enterprises - Kametstal and Zaporizhstal (the former increased steel output by two times, the latter - by 2.5 times).

The production figures of both Kametstal and Zaporizhstal in the fourth quarter of 2022 and the first quarter of 2023 were significantly affected by power outages caused by Russian shelling of the Ukrainian energy infrastructure.

In the first nine months of 2023, steel production at Kametstal increased by 11% (to 1.3 million tons) compared to the previous year, while steel output of Metinvest in general, due to the production at the Mariupol plants in January-February 2022, decreased by 46%.

Production of iron ore concentrate by the group in the reporting quarter amounted to 2.7 million tons, which is 13% more than in the previous quarter. Metinvest continues to focus on the production of concentrate and pellets with a high iron content.

The output of coal concentrate during the third quarter of 2023 amounted to 1,275 million tons, which was 19% lower than in the previous quarter.

Output at United Coal (USA) decreased by more than 30% (to 441,000 tons), at Pokrovske Coal (Ukraine) - by 7% (832,000 tons).