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03 Feb

NLMK's fourth-quarter profitability down, but 2021 earnings soar

NLMK, with operations in Russia, Europe and the US, increased its revenue in the fourth quarter of 2021 by 2% on-quarter and 94% on-year to $4.6 billion. Steel sales rose 8% on-quarter and 6% on-year to 4.5 million tonnes, the company says. 2021 revenue grew 75% on-year to $16.2 billion on higher average sales prices and higher share of finished products in the sales portfolio. Shipments however fell 4% to 16.85mt, Kallanish notes. Meanwhile, narrower f…
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