18 Mar 2022 06:00
PJSC Magnitogorsk Iron and Steel Works (MMK) PJSC Magnitogorsk Iron and Steel Works: MMK comments on the Council Implementing Regulation (EU) 2022/427 and Council Decision (CFSP) 2022/429 of 15 March 2022 18-March-2022 / 07:00 CET/CEST Dissemination of a Regulatory Announcement, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement.
| MMK comments on the Council Implementing Regulation (EU) 2022/427 and Council Decision (CFSP) 2022/429 of 15 march 2022 18 march 2022 Magnitogorsk, Russia | PJSC Magnitogorsk Iron & Steel Works ("MMK", "the Group") (MOEX: MAGN; LSE: MMK) notifies that on 15 March 2022 the European Council published the fourth package of economic and individual sanctions against the Russian Federation, including Viktor Rashnikov, Chairman of the Board of Directors and controlling shareholder of MMK. We consider the sanctions against Viktor F. Rashnikov to be groundless and unfair. MMK is reviewing the decision taken by the European authorities and assessing possible impact of sanctions on its business. MMK is one of the world's largest steelmakers, characterized by high production efficiency, low debt burden and stable financial position. |
| About MMK PJSC Magnitogorsk Iron and Steel Works (MMK Group, MMK) is a Russian iron and steel company. The Group's operations in Russia include a large steel producing unit encompassing the entire production chain, from the preparation of iron ore to downstream processing of rolled steel. MMK manufactures a broad range of steel products, with a predominant share of premium products. In 2021, MMK produced 13.6 mln tonnes of crude steel and sold 12.5 mln tonnes of commercial steel products. Group revenue in 2021 totalled USD 11,869 mln, with an EBITDA of USD 4,290 mln. MMK boasts the industry's lowest debt burden. Net debt/EBITDA ratio was -0.09х at the end of 2021. MMK's ordinary shares are traded on the Moscow Exchange, while its depositary receipts are traded on the London Stock Exchange. Free float amounts to 20.2%. | Subscribe to our official MMK channel in Telegram, to be the first to know about key MMK news. |
| Investor Relations Department Veronika Kryachko+7 (915) 380-62-66kryachko.vs@mmk.ru ESG DEPARTMENT Yaroslava Vrubel +7 982 282 9682vrubel.ys@mmk.ru Communications Department Dmitriy Kuchumov +7 (499) 238-26-13kuchumov.do@mmk.ru | | KEY UPCOMING EVENTS IN 2022 Financial calendar | | 13 April | Q1 2022 Trading Update | | 19 April | Q1 2022 IFRS financials |
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| ISIN: | US5591892048 |
| Category Code: | MSCM |
| TIDM: | MMK |
| LEI Code: | 253400XSJ4C01YMCXG44 |
| Sequence No.: | 149900 |
| EQS News ID: | 1305973 |
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| End of Announcement | EQS News Service |
UK Regulatory announcement transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement.
MMK.L (MMK)