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IMH operational results for FY 2019

27 January 2020

Industrial Metallurgical Holding (IMH), one of the global leading suppliers of merchant pig iron and the biggest merchant coke producer in Russia, announces its operational results for FY 2019.

Key operational indicators:

Production, ‘000 tonnes

2019

2018

Change, %
Y/Y

Pig iron

2,362

2,343

-

Coke (6% moisture content)

2,592

2,534

2

Coal

2,302

2,632

(13)

Coal concentrate

2,432

2,476

(2)

Iron ore

4,845

4,980

(3)

Iron ore concentrate

2,112

2,207

(4)

Indicators of actual sales of the main commercial products:

Production, ‘000 tonnes

2019

2018

Change, %
Y/Y

Pig iron

2,365

2,344

-

Coke (6% moisture content), sales

2,689

2,445

10

Coke (6% moisture content), sales to third parties

1,351

1,188

14

Coke (6% moisture content), inter-segment sales

1,338

1,257

6


Pig iron production and sales volumes in 2019 slightly exceeded the results of 2018.

Total coke production was up 2% and deliveries grew by 10% due to increased exports in 2019.

Coal production volume in 2019 was affected by difficult mining and geological conditions at Tikhova and Butovskaya mines. At the same time, production dynamics at the mines improved in the second half of the year. The total production volume reached 1,354 thousand tons in the second half of 2019, up 43% compared to the 1H 2019 result and up 8% to compare with the result of 2H 2018.

Coal concentrate output slightly decreased on the back of lack of captive coal in the reporting period.

Iron ore production and iron ore concentrate output decreased due to the ongoing development of reserves in the flank areas (peripheral segments of the deposit) with the most difficult mining and geological conditions.

The company continues implementing the programs to improve labor productivity and economic efficiency. In 2019, 336 proposals were adopted for implementation. The total economic effect of implementing proposals within Total Optimization Program amounted to almost 1.6 billion rubles.

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