MMK Q1 21 Earnings Preview - Steel prices increase to ensure stronger Q1 2021 results
- Despite weaker qoq sales volumes, revenue should be higher qoq on stronger steel prices- Hike in steel margins is expected to prop EBITDA up by over 50% qoq in Q1 21e
- Though, net operating cash flow is to be pressed by negative WC effect from stocks build-up
- FCF is estimated at USD 151 mn, resulting in DPS of USD 0.175/GDR
Magnitogorskiy Metallurgicheskiy Kombinat PAO, formerly Magnitogorskiy metallurgicheskiy kombinat OAO, is a Russia-based company, active in the steel industry. Its main products are sinter, coke, iron, crude steel, rolled products and ore materials. The Company offers a wide range of products such as wire rod, rebars, square bars, strips, round bars, among others. It is also involved in the coal ore mining, processing of ore materials, sale of ferrous metal products and others. Magnitogorskiy metallurgicheskiy kombinat OAO operates as a supplier for such industries as: pipelines, vehicles, railway, construction and shipbuilding, among others. Its subsidiaries include Lys'venskaya Metallurgicheskaya Kompaniya OOO, among others. The Company operates domestically, as well as exports its products to the Commonwealth of Independent States (CIS) countries, Asia, the Middle East and Europe.
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