Net profit of NLMK rose by 2.5 times due to revenue from currency exchange rates

​The profit of NLMK in Q3 2015 rose by $186 mln due to the positive results from the currency exchange rates.

The net profit of NLMK under IAS in Q3 2015 rose by 153% to $410 mln against $162 mln in Q2.

The profit in Q3 rose by 2.5 times due  to the growth of profit from the main activity and a positive result from the currency exchange rates for the amount of $186 mln (against the loss of $41 mln in Q2).

In Q1-Q3 2015 the net profit of NLMK under IAS rose by 31% to $678 mln.

According to the Vice-President for financial issues of NLMK group, G. Fedorishin, as a result of the recovery of the purchase activity of the key consumer and a significant import fall of metal products, the physical volumes of the company’s sales in Q3 reached a record level of 4.1 mln tons, the loading of capacities stayed at the level of 100%.

Despite of the price fall and revenue reduction, EBITDA rose by 6% to $508 mln, profitability rose from 22 to 25%. It became possible due to the improvement of the structure of sales in favor of highly profitable products and continual programs of operational profit growing, Fedorishin said.