According to the financial performance in 2023 declared by Magnitogorsk Iron and Steel Works (MMK), the company's net profits hiked by 68.2% compared to 2022 to around 118.36 billion rubles. The revenue went up by 9.1% year on year to 763.39 billion rubles.
In addition, because of the change in the sales structure and the increase in sales of premium products, its EBITDA went up by 26.2% year on year to 195.6 billion rubles. Meanwhile, the EBITDA margin increased from 22.2% to 25.6%.
Source: YIEH
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