February 12, 2020 / 8:04 AM / 2 months ago

Russia's NLMK says Q4 core earnings down 43 pct y/y

MOSCOW, Feb 12 (Reuters) - Russian steel producer NLMK said on Wednesday its fourth-quarter core earnings fell 43% year-on-year as revenues slipped on weak global steel prices as well as major repairs to a key blast furnace at the company’s Lipetsk site.

Fourth-quarter earnings before interest, taxation, depreciation and amortisation (EBITDA) fell to $480 million, down from $847 million during the same period the previous year. (Reporting by Andrey Kuzmin and Polina Ivanova; Writing by Polina Ivanova; Editing by Louise Heavens)

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