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Magnitogorskiy metallurgicheskiy kombinat OAO (MAGN.MM)

MAGN.MM on Moscow Interbank Currency Exchange

41.50RUB
18 Sep 2017
Change (% chg)

руб-0.57 (-1.35%)
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руб42.07
Open
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руб42.17
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руб41.44
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Latest Key Developments (Source: Significant Developments)

Blocktrade - MMK says Mintha sold 335.2 mln ordinary shares in co
Tuesday, 5 Sep 2017 03:12pm EDT 

Sept 5 (Reuters) - MMK -:BLOCKTRADE - MMK : CO SAYS MINTHA HOLDING LTD SOLD 335.2 MILLION ORDINARY SHARES IN CO, REPRESENTING 3% OF ISSUED ORDINARY SHARE CAPITAL OF CO.BLOCKTRADE - MMK : CO SAYS MINTHA HOLDING'S PLACEMENT SHARES WERE SOLD TO GOLDMAN SACHS INTERNATIONAL FOR RESALE TO INVESTORS.BLOCKTRADE - MMK : CO SAYS UNDER TERMS, MINTHA TO NOT DISPOSE OF FURTHER SHARES IN CO FOR 90 DAYS FROM TODAY WITHOUT CONSENT OF GOLDMAN SACHS INTERNATIONAL.  Full Article

Russia's MMK says Q1 net profit up 53.5 y/y
Thursday, 11 May 2017 02:11am EDT 

May 11 (Reuters) - Russia's steel producer MMK says::Q1 net profit at $241 million, a 53.5 percent increase year on year and 15.9 percent growth quarter on quarter;.Q1 revenue up 58.1 percent year on year to $1.66 billion;.Q1 EBITDA up 106.4 percent year on year to $452 million;.EBITDA margin at 27.2 percent in Q1 2017 versus 20.9 percent in Q1 2016;.Board confirms new version of the dividend policy under which no less than 50 percent of free cash flow should be awarded as dividends;.In 2017, demand for steel in Russia is expected to recover by up to 2 percent compared with 2016..Further company coverage: MAGN.MM.  Full Article

Russia's MMK says recommends divs of 1.24 rbls/share
Monday, 24 Apr 2017 02:00am EDT 

April 24 (Reuters) - Russia's MMK ::Board recommended that general meeting of shareholders should pay dividends of 1.242 roubles ($0.0223) per share;.Dividends therefore amount to 60 percent of Free Cash Flow, including operating profits and profits from the sale of shares in Fortescue Metals Group..  Full Article

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