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IMH 1Q 2016 operational results

26 April 2016

Industrial Metallurgical Holding (IMH), the world's largest exporter of merchant pig iron and the leading producer of merchant coke in Russia, reports its operational results for 3M 2016

 

Production, '000 tonnes

1Q 2016

4Q 2015

1Q16/4Q15,
%

Coal production

579

324

79%

Coal concentrate

626

585

7%

Coke (6% moisture content)

699

676

3%

Iron ore production

1 250

1 268

-1%

Iron ore concentrate

559

560

0%

Pig iron, total

560

539

4%

Pig iron, basic grades

411

377

9%

Pig iron, premium grades

150

162

-8%

Coking coal production at IMH Coal Division totaled 579 kt. in 1Q16 that is +79% to 4Q15. Butovskaya coal mine produced 342.5 kt. Uchastok Koksovy open pit production was ramped up by 7% to 236.7 kt. due to intensification of drilling-and-blasting along with mining operations in the open pit.

Coal concentrate production at Berezovskaya washing plant increased by 7% and summed up to 626 kt.  Production of 6% moisture content coke at ОАО «Koks» in 1Q16 gained 3% and totaled 699 kt. due to increase in export sales. Iron ore production and iron ore concentrate at Kombinat KMAruda facilities remained almost at the same level - 1.25 mt. and 559 kt. respectively.

Tulachermet produced 560 kt. of pig iron (gross production) in the first three months of 2016. Out of these, there were 411 kt. of basic grades (steel-making) pig iron (+9%) and 150 kt. of premium grades pig iron (-8%). Temporal decrease in premium grade products q/q occurred due to LPS (low phosphorus and sulphur) pig iron production technology fine-tuning.

Sergey Frolov, Vice-President for Strategy and Communications of IMH commented on Group’s 1Q 2016 results:

“During the 1Q16 we have seen some positive trends on the markets. There is a significant rise in prices for all of our products, including pig iron. We also note the positive trend in demand from our main customers - the EU and the United States. The company is operating at full production capacity and we are confident that this trend will continue throughout the 2Q16. These developments will have a positive impact on Group's financial performance.

Since the beginning of the 2016 IMH implements the second phase of the “TPO program” (total production optimization) along with the concept of lean management. We hope that the second phase of the TPO will have a positive impact on many processes of industrial and economic activities in IMH. This will lead to further reduction of consumption indexes in operational performance and begin to generate additional significant financial returns in the short term.

Trimming the smooth operation of the desulfurization unit at Tulachermet will allow the company to increase gross pig iron production volumes in general and to ramp up the share of special grades in 2016 sales portfolio. Reduced downtime due to blast furnaces general maintenance will provide a positive effect on the expected pig iron production volumes in 2016. We are also counting on growth in coal production volumes this year with the first stage of Butovskaya coal mine operating at full production capacity and because of improving geological conditions in this mine”.


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About the company:

Industrial Metallurgical Holding (IMH) – is a vertically integrated business. It includes production of pig iron, coke and coking coal, extraction and procession of iron ore, foundry casting and powder metallurgy. IMH is the largest global exporter of merchant pig iron and the biggest Russian coke producer. The Group’s main operational business units are Coal division, Coke division, Iron Ore and Pig Iron division and Powder Metallurgy division. The Group’s key production facilities are located in Kemerovo, Belgorod, Tula and Kaluga regions of Russian Federation.

 

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For more information, please contact:
Maxim Lobada
Head of IR department
Tel.: +7 (495) 725-56-80 (#406)
E-mail: lobada@metholding.com
2nd Verkhniy Mikhailovskiy proezd 9, Moscow, 115419, Russia



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