Profit of

the Net profit of “Novolipetsk metallurgical combine” (NLMK) under IFRS decreased in 2019 40% yoy to $1,339 billion, EBITDA declined by 29% to $2,564 billion.

Revenue fell 12% to $10,554 billion “amid falling steel prices and reduction in sales in connection with capital repairs in the blast furnace and steel production NLMK”, the company said. Free cash flow decreased 25% to $1,523 billion.

the Board of Directors suggests to pay dividends for the IV quarter of 2019 in the amount of 5.16 RUB per share. Only dividends can direct 30,925 billion rubles Dividends NLMK for the fourth quarter of 2018 was 5.8 roubles per share. Thus, the amount of dividends is reduced by 11%.

In 2019, NLMK has paid dividends three times in the first quarter of 7.34 RUB per share (43,99 billion rubles), for the II quarter — 3.68 RUB. per share (22.06 bn RUB.), for the third quarter and 3.22 RUR per share (19,298 bn).

“We expect to increase steel output at the Lipetsk site to the level of the same period last year, with the completion of capital repairs in the blast furnace and Converter production of NLMK in the fourth quarter of 2019,” notes the company.

the company’s 2019 has reduced steel production by 10% to 15,696 million tons.

NLMK is a vertically integrated steel company. NLMK’s production assets are located in Russia, Europe and the United States. The basic owner NLMK Vladimir Lisin through Fletcher Group offshore owns about 81% of the shares.