Comment on MMK`s Latest Events, Forecast on Growth and Risk 10/23/09
Contents:
- STOCK PRICE MAY BE EVEN HIGHER IN MID-TERM;
- COOPERATION WITH RENAULT-NISSAN;
- MMK CONTROLS BELON NOW;
- PROMISING RESULTS;
- STRONG FINANCIAL POSITION LOWERS RISK LEVEL.
This report provides analyst comment on company’s latest events and performance. Report contains forecast on business risk (short-, mid-, and long-term) and growth possibilities (long-term) of the company, providing reader with necessary information to make decisions. Key reasons to read this report:
- Report contains only relevant information, leaving out excessive data.
- Understand company’s opportunities, competitive situation and business risk.
- Understand which events influence company performance.
- Understand which events influence the situation of industry.
- Independent analyst comment and opinion.
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Price for this Report: €30 / $50
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Contents:
- STOCK PRICE MAY BE EVEN HIGHER IN MID-TERM;
- COOPERATION WITH RENAULT-NISSAN;
- MMK CONTROLS BELON NOW;
- PROMISING RESULTS;
- STRONG FINANCIAL POSITION LOWERS RISK LEVEL.
This report provides analyst comment on company’s latest events and performance. Report contains forecast on business risk (short-, mid-, and long-term) and growth possibilities (long-term) of the company, providing reader with necessary information to make decisions. Key reasons to read this report:
- Report contains only relevant information, leaving out excessive data.
- Understand company’s opportunities, competitive situation and business risk.
- Understand which events influence company performance.
- Understand which events influence the situation of industry.
- Independent analyst comment and opinion.
This report will become available for purchase after you register and log in
Price for this Report: €30 / $50
Price for 30-days Unlimited Report Access (subscription includes all our reports): €30 / $50
The Magnitogorsk Iron and Steel Works Open Joint Stock Company (MMK) is one of the largest enterprises of the Russian steel sector accounting for about 20% of all steel products sold on the Russian market. The Company is a major steel making plant encompassing the entire steel production chain, from preparation of iron ore to downstream processing of rolled steel. MMK turns out the broadest range of steel products among steel making plants in Russia and the CIS. A significant portion of its output is exported to various parts of the world. In 2008 MMK produced 11,957,000 tons of crude steel, 11,522,000 tons of hot rolled products and 10,911,000 tons of commercial products. This is 11% less than in 2007, when the Company reached the peak of production in more than 75 years of its history, turning out 12.2 million tons of commercial products. The slump was caused by the impact of the global economic recession on the Russian steel sector. MMKs 2008 revenue as reported under the Russian Accounting Standards (RAS) was 226 billion Rubles, 19 % up on the 2007 results. The 2008 sales income was 54 billion Rubles (107% against 2007), with net profit at 10 billion Rubles. Thus, 2008 has become a record year for MMK in terms of revenue and sales income. The Company has maintained a high production level. Thanks to its diversified products range and flexible sales policy MMK has been able to derive maximum benefits from the favourable market situation of the first 9 months of 2008 and respond quickly to the market changes. In recent years MMK has been the sectors leader in terms of investments in revamping and modernization, with the Companys capex volume in 2008 passing the 32 billion Rubles mark. The last decade has seen practically all of MMKs main production divisions revamped, and many new high-capacity facilities installed, among them a two-stand reversing cold rolling mill (2002), two Russias largest hot dip galvanizing lines (2002, 2008), a color coating line (2004), two super powerful electric arc furnaces with an annual capacity of 2 m tons each (2006), three state-of-the-art, fully automated long products mills with the combined capacity of over 2 m tons of long products (2005-2006) and many others.
IFRS_Q1 2009
IFRS_2008
IFRS_Q3 2008
Latest News
Magnitogorsk Iron and Steel Works` Finished Steel Production Decreased By 20% In 2009
MMK retained leading positions among Russian steel producers in 2009 with the market share of 17%.
MMK retained leading positions among Russian steel producers in 2009 with the market share of 17%.
Magnitogorsk Iron and Steel Works Reported Very Positive 9m 2009 Financial Results
MMK showed the highest sales growth in Q3 2009 compared to Russian peers
MMK showed the highest sales growth in Q3 2009 compared to Russian peers
MMK`S STRONG FINANCIAL POSITION LOWERS RISK LEVEL
While implementing the investment program, MMK management maintains one of the strongest balances in the sector.
While implementing the investment program, MMK management maintains one of the strongest balances in the sector.
MMK MANAGED TO CUT EXPENSES, BUT REVENUES REMAINED THE SAME
The production volume in Q2 2009 stayed at the level of Q1 2009.
The production volume in Q2 2009 stayed at the level of Q1 2009.
