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Magnitogorskiy metallurgicheskiy kombinat OAO (MAGN.MM)

MAGN.MM on Moscow Interbank Currency Exchange

24 Mar 2017
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Latest Key Developments (Source: Significant Developments)

Russia's MMK says Q4 revenue up 4.9 pct q/q to $1.5 bln
Wednesday, 15 Feb 2017 02:00am EST 

Russia's MMK says: Q4 revenue rose 4.9 percent vs Q3 to $1.55 billion . Q4 EBITDA fell 30 percent quarter-on-quarter to $456 million . Q4 EBITDA margin at 29.4 percent . Q4 profit for the period at $208 million, down 50 pct q/q . Says decided to recommend that board of directors increase dividend payout ratio for H2 2016 to 60 percent . Plans to offer board to amend dividend policy and increase dividend payout ratio to at least 50 percent of free cash flow . Says financial performance in Q1 2017 is expected to come under pressure from high base of coking coal prices and seasonal growth in prices for metal scrap . Says in 2017, demand for steel in Russia may be 1-2 percent higher year-on-year, making it possible for company to maintain sales volumes. Further company coverage: [MAGN.MM] (Reporting by Moscow Newsroom) ((Alessandra.Prentice@thomsonreuters.com;)).  Full Article

Russia's MMK could consider raising free float - analyst
Thursday, 1 Dec 2016 11:00am EST 

Russian steel producer MMK : MMK could consider raising its free float to 15.5 percent from 12.7 percent to gain MSCI index inclusion after its market capitalisation rises to $7 billion, an investment firm Aton said in a note on Thursday . According to Aton, MMK made the statement during a non-deal roadshow, arranged by Aton this week . MMK declined to comment when contacted by Reuters . According to Aton, MMK also wants to increase its cash balance and regards $500 million as a comfortable level . MMK, controlled by businessman Viktor Rashnikov, has a market value of $5.9 billion, according to Reuters data. Further company coverage: [MAGN.MM] (Reporting by Moscow Newsroom; editing by Susan Thomas) ((Polina.Devitt@thomsonreuters.com; +7 495 775 12 42; Reuters Messaging: polina.devitt.reuters.com@reuters.net)).  Full Article

Russia's MMK Q3 crude steel output flat q/q at 3.2 mln T
Thursday, 13 Oct 2016 02:00am EDT 

Magnitogorsk Iron and Steel Works (MMK) : Says Q3 crude steel output at 3.179 million tonnes, down 0.1 percent quarter-on-quarter. . Says sees solid demand for its products on both domestic and export markets in October. .Says the company, however, anticipates lower sales closer to the end of 2016 due to the seasonal slowdown of business..  Full Article

Kamaz to develop self-driving dump truck for MMK
Wednesday, 5 Oct 2016 07:21am EDT 

Kamaz : Says to develop self-driving dump truck for MMK . To create working group with representatives of MMK and VIST Group, which will be Kamaz partner in equipping the trucks with artificial intelligence system .Plans to launch truck prototype in 2017.  Full Article

Russia's MMK says will probably pay H1 dividend
Friday, 5 Aug 2016 09:31am EDT 

Russia's MMK told a conference call on Friday: MMK will probably pay dividend for the first half of this year. Further company coverage: [MAGN.MM] (Reporting by Moscow newsroom) ((Polina.Devitt@thomsonreuters.com;)).  Full Article

Russia's MMK says Q2 revenue flat at $1.6 bln y/y
Friday, 5 Aug 2016 02:24am EDT 

Russia's steelmaker MMK says: Q2 revenue flat at $1.6 billion, EBITDA up at $560 million from $493 million in Q2 2015; . Profit for the quarter at $329 mln; . MMK sees a slight weakening of demand for steel in Russia due to end of seasonal restocking and lower demand for large diameter pipes; . MMK does not expect a significant drop in prices on its export markets in Q3, anticipates a slight correction in prices in Russia. Further company coverage: [MAGN.MM] (Moscow Newsroom) ((moscow.newsroom@thomsonreuters.com;)).  Full Article

Moody's upgrades Magnitogorskiy metallurgicheskiy kombinat OAO ratings, outlook negative
Wednesday, 27 Apr 2016 12:11am EDT 

Magnitogorskiy metallurgicheskiy kombinat OAO:Moody's Investors Service says upgraded Magnitogorskiy metallurgicheskiy kombinat corporate family rating to Ba1 from Ba2 and probability of default rating to Ba1-PD from Ba2-PD.The upgrade of MMK's rating reflects Moody's expectation that the company's financial metrics will remain robust as it proceeds with debt reduction plans.The negative outlook is in line with the outlook for Russia's sovereign rating.  Full Article

Magnitogorskiy metallurgicheskiy kombinat OAO recommends 0.31 roubles/share in 2015 dividends
Monday, 25 Apr 2016 12:52am EDT 

Magnitogorskiy metallurgicheskiy kombinat OAO:Board recommends dividends for 2015 in amount of 0.31 roubles per common share.Says board asks CEO to provide for the board approval new dividend policy which would set dividend pay-out ratio as a rule to amount to 30 pct from IFRS free cash flow.Says new dividend policy envisages dividend payment as a rule done on semi-annual basis.  Full Article

Moody's upgrades Magnitogorskiy metallurgicheskiy kombinat OAO rating to Ba2
Friday, 18 Dec 2015 04:28am EST 

Magnitogorskiy metallurgicheskiy kombinat OAO:Moody's Investors Service (Moody's) has upgraded Magnitogorsk Iron & Steel Works' (MMK) corporate family rating (CFR) to Ba2 from Ba3 and probability of default rating (PDR) to Ba2-PD from Ba3-PD.The outlook on the ratings is positive.The upgrade of MMK's ratings primarily reflects the improvement in the company's financial metrics over the past two years, with gross leverage improving to 1.8x Moody's-adjusted debt/EBITDA at end-2014 and 1.2x as of 30 September 2015, which is beneath Moody's upgrade threshold of below 2.5x.  Full Article

Magnitogorskiy metallurgicheskiy kombinat OAO recommends H1 dividend
Wednesday, 19 Aug 2015 01:34am EDT 

Magnitogorskiy metallurgicheskiy kombinat OAO:Recommends H1 dividend of 0.58 roubles a share with record date on October 9.  Full Article

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