Support The Moscow Times!

Novolipetsk Q1 Off

Novolipetsk Steel said Thursday that it expects sales and margins to increase in the second quarter after it posted a first-quarter net profit of $173 million, down from $392 million in the year-earlier period.

The company said the market is improving after prices dropped 5 percent in the first quarter compared with the October-December period.

"In Q2, we expect revenue growth of 10 percent based on continued increase in sales. We expect an EBITDA margin of approximately 17 percent to 19 percent," NLMK said. "However, as the EU crisis enters a new phase, the steel sector's short-term prospects are still uncertain, and we think that prices in Q3 could remain flat against H1."


… we have a small favor to ask. As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

paiment methods
Not ready to support today?
Remind me later.

Read more