Metinvest suffered more than $2 billion in losses and halved its revenue in 2022
The company ended 2021 with a profit of $4.765 billion
Metinvest, the parent company of Metinvest Mining and Metallurgical Group, reported a consolidated net loss of $2.193 billion in 2022, compared to a profit of $4.765 billion in 2021.
This is evidenced by the group's annual report.
Its revenue fell by almost 2.2 times to $8.288 billion from $18.005 billion in 2021, and EBITDA fell by 3.4 times to $1.769 billion.
It was specified that the metals sector's revenue decreased by 2.5 times to $5.803 billion, and the mining segment's revenue decreased by 1.8 times to $3.473 billion.
At the same time, adjusted EBITDA of the Group's steel division decreased by 11.1 times to $0.262 billion and the mining segment by 2.5 times to $1.448 billion.
Metinvest's operating loss in 2022 was $1.426 billion, compared to a profit of $4.933 billion in 2021.
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