Russian steel giant Magnitogorsk Iron and Steel Works (MMK) has announced that its Turkey-based subsidiary MMK Metalurji registered a quarter-on-quarter decrease of 20.2 percent in its sales revenues for the first quarter of the current year, with a total of $134 million. The decrease was primarily due to a 14.9 percent decline in sales volume in the first quarter compared to the fourth quarter of 2013.
In the first quarter, MMK Metalurji’s EBITDA amounted to $13 million, falling 7.1 percent quarter on quarter, with an EBITDA margin of 9.7 percent.
MMK also stated that the capacity utilization of MMK Metalurji’s production capacities is expected to remain at near maximum capacity in 2014.
Source:
http://www.steelorbis.com/steel-news/latest-news/turkey_based-mmk-metalurji-sees-reduced-sales-revenues-in-q1-834740.htm
