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 Report have been submitted to the National Storage Mechanism and will shortly be available for inspection at .

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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