MMK

PJSC Magnitogorsk Iron and Steel Works: MMK notifies that Fitch Ratings has downgraded MMK's credit rating

Retrieved on: 
Tuesday, March 15, 2022

PJSC Magnitogorsk Iron and Steel Works: MMK notifies that Fitch Ratings has downgraded MMK's credit rating

Key Points: 
  • PJSC Magnitogorsk Iron and Steel Works: MMK notifies that Fitch Ratings has downgraded MMK's credit rating
    Dissemination of a Regulatory Announcement, transmitted by EQS Group.
  • PJSC Magnitogorsk Iron & Steel Works ("MMK", or "the Group") (MOEX: MAGN; LSE: MMK) notifies that Fitch Ratings has downgraded MMK's long-term foreign currency and local currency issuer default ratings to '' from 'B'/Rating Watch Negative.
  • In 2021, MMK produced 13.6 mln tonnes of crude steel and sold 12.5 mln tonnes of commercial steel products.
  • Subscribe to our official MMK channel in Telegram , to be the first to know about key MMK news.

PJSC Magnitogorsk Iron and Steel Works: MMK notifies that S&P Global Ratings has downgraded MMK's credit rating

Retrieved on: 
Wednesday, March 9, 2022

PJSC Magnitogorsk Iron and Steel Works: MMK notifies that S&P Global Ratings has downgraded MMK's credit rating

Key Points: 
  • PJSC Magnitogorsk Iron and Steel Works: MMK notifies that S&P Global Ratings has downgraded MMK's credit rating
    Dissemination of a Regulatory Announcement, transmitted by EQS Group.
  • PJSC Magnitogorsk Iron & Steel Works ("MMK", or "the Group") (MOEX: MAGN; LSE: MMK) notifies that S&P Global Ratings has downgraded MMK's credit rating to 'CCC-' from 'BBB-', the same level as the foreign currency rating and the transfer and convertibility assessment on Russia, to reflect the heightened sovereign risk for all Russian corporate issuers.
  • At the same time, S&P Global Ratings placed MMK's issuer credit and issue ratings on CreditWatch with negative implications.
  • In 2021, MMK produced 13.6 mln tonnes of crude steel and sold 12.5 mln tonnes of commercial steel products.

PJSC Magnitogorsk Iron and Steel Works: MMK Group Financial Results for Q4 and 12M 2021

Retrieved on: 
Saturday, March 5, 2022

Free cash flow grew 30.6% q-o-q to USD 534 mln, reflecting an inflow from working capital amid lower inventories.

Key Points: 
  • Free cash flow grew 30.6% q-o-q to USD 534 mln, reflecting an inflow from working capital amid lower inventories.
  • In 2021, EBITDA more than doubled year-on-year to USD 4,290 mln, reflecting stronger revenue and a low base in 2020.
  • Free cash flow for 12M 2021 more than doubled to USD 1,613 mln due to stronger EBITDA.
  • Our open and proactive communication with MMK employees and contractors on the importance of vaccination continues to yield results.

PJSC Magnitogorsk Iron and Steel Works: MMK notifies that Fitch Ratings has downgraded MMK's credit rating

Retrieved on: 
Saturday, March 5, 2022

PJSC Magnitogorsk Iron and Steel Works: MMK notifies that Fitch Ratings has downgraded MMK's credit rating

Key Points: 
  • PJSC Magnitogorsk Iron and Steel Works: MMK notifies that Fitch Ratings has downgraded MMK's credit rating
    Dissemination of a Regulatory Announcement, transmitted by EQS Group.
  • PJSC Magnitogorsk Iron & Steel Works ("MMK", or "the Group") (MOEX: MAGN; LSE: MMK) notifies that Fitch Ratings has downgraded MMK's long-term foreign currency and local currency issuer default ratings to 'B' from 'BBB' and placed them on Rating Watch Negative following the agency's downgrade of Russia's sovereign ratings on 2 March 2022.
  • In 2021, MMK produced 13.6 mln tonnes of crude steel and sold 12.5 mln tonnes of commercial steel products.
  • Subscribe to our official MMK channel in Telegram , to be the first to know about key MMK news.

PJSC Magnitogorsk Iron and Steel Works: MMK announces a change in the ownership structure of its stock

Retrieved on: 
Saturday, March 5, 2022

PJSC Magnitogorsk Iron and Steel Works: MMK announces a change in the ownership structure of its stock

Key Points: 
  • PJSC Magnitogorsk Iron and Steel Works: MMK announces a change in the ownership structure of its stock
    Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group.
  • PJSC Magnitogorsk Iron & Steel Works ("MMK", or "the Group") (MOEX: MAGN; LSE: MMK), one of the world's largest steel producers, announces that on 3 March 2022 MMK received a notice of a change in its shareholder structure.
  • The ultimate beneficiary of both companies is Victor Rashnikov, Chairman of the Board of Directors of PJSC MMK.
  • In 2021, MMK produced 13.6 mln tonnes of crude steel and sold 12.5 mln tonnes of commercial steel products.

Sunny Istar Lee Selected to Receive 2022 Financial Education Instructor of the Year Award

Retrieved on: 
Wednesday, February 16, 2022

DALLAS, Feb. 16, 2022 /PRNewswire/ -- Annually, the National Financial Educators Council (NFEC) selects a distinguished financial educator as recipient of the respected Financial Education Instructor of the Year (FEIY) Award.

Key Points: 
  • DALLAS, Feb. 16, 2022 /PRNewswire/ -- Annually, the National Financial Educators Council (NFEC) selects a distinguished financial educator as recipient of the respected Financial Education Instructor of the Year (FEIY) Award.
  • To learn more about Sunny Istar Lee, visit: https://www.financialeducatorscouncil.org/sunny-istar-lee-2022-financial...
    Sunny Istar Lee is founder of Money Master Kids (MMK), a youth financial wellness organization that became a nonprofit in 2020.
  • "The NFEC is proud to honor Sunny Istar Lee with the annual FEIY Award," comments Vince Shorb, CEO of the NFEC.
  • The National Financial Educators Council proudly honors those financial educators and others who have made significant contributions to the financial wellness movement.

PJSC Magnitogorsk Iron and Steel Works: Notice of Q4 & 12M 2021 Financial Results

Retrieved on: 
Tuesday, February 15, 2022

A presentation of the financial results and the IFRS financial statements can be found at: https://mmk.ru/en/investor/results-and-reports/financial-results/

Key Points: 
  • A presentation of the financial results and the IFRS financial statements can be found at: https://mmk.ru/en/investor/results-and-reports/financial-results/
    MMK is one of the world's largest steel producers and a leading Russian metals 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 turns out a broad range of steel products, with a predominant share of premium products.
  • In 2020, MMK produced 11.6 mln tonnes of crude steel and sold 10.8 mln tonnes of commercial steel products.

PJSC Magnitogorsk Iron and Steel Works: MMK announces its position regarding the decision of the Russian Federal Antimonopoly Service

Retrieved on: 
Tuesday, February 15, 2022

PJSC Magnitogorsk Iron and Steel Works: MMK announces its position regarding the decision of the Russian Federal Antimonopoly Service

Key Points: 
  • PJSC Magnitogorsk Iron and Steel Works: MMK announces its position regarding the decision of the Russian Federal Antimonopoly Service
    Dissemination of a Regulatory Announcement, transmitted by EQS Group.
  • PJSC Magnitogorsk Iron & Steel Works ("MMK", or "the Group") (MOEX: MAGN; LSE: MMK), one of the world's largest steel producers, announces its position regarding the decision of the Russian Federal Antimonopoly Service in the anti-trust violation case.
  • In 2021, MMK produced 13.6 mln tonnes of crude steel and sold 12.5 mln tonnes of commercial steel products.
  • Subscribe to our official MMK channel in Telegram , to be the first to know about key MMK news.

PJSC Magnitogorsk Iron and Steel Works: MMK announces updated schedule for Trading Update and IFRS financials for Q4 and12M 2021

Retrieved on: 
Thursday, January 27, 2022

PJSC Magnitogorsk Iron and Steel Works: MMK announces updated schedule for Trading Update and IFRS financials for Q4 and12M 2021

Key Points: 
  • PJSC Magnitogorsk Iron and Steel Works: MMK announces updated schedule for Trading Update and IFRS financials for Q4 and12M 2021
    Dissemination of a Regulatory Announcement, transmitted by EQS Group.
  • PJSC Magnitogorsk Iron & Steel Works ("MMK", or "the Group") (MOEX: MAGN; LSE: MMK), one of the world's largest steel producers, announces it has updated a schedule for Trading Update and IFRS financials for Q4 and 12M 2021.
  • On the back of the Group transition to new version of corporate information system Oracle E-Business Suite v12 MMK actualizes its schedule for Trading Update and IFRS financials for Q4 and 12M 2021:
    Trading Update - 28 February 2022;
    IFRS financials - 28 February 2022.
  • The full financial calendar for 2022 is below:
    Q4 and 12M 2021 Trading Update - 28 February 2022;
    Q4 and 12M 2021 IFRS financials - 28 February 2022;
    Q1 2022 Trading Update - 13 April 2022;
    Q1 2022 IFRS financials - 19 April 2022;
    Q2 and H1 2022 Trading Update - 13 July 2022;
    Q2 and H1 2022 IFRS financials - 19 July 2022;
    Q3 and 9M 2022 Trading Update - 12 October 2022;
    Q3 and 9M 2022 IFRS financials - 18 October 2022.

PJSC Magnitogorsk Iron and Steel Works: MMK Board meeting results

Retrieved on: 
Tuesday, December 28, 2021

PJSC Magnitogorsk Iron and Steel Works: MMK Board meeting results

Key Points: 
  • PJSC Magnitogorsk Iron and Steel Works: MMK Board meeting results
    Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group.
  • PJSC Magnitogorsk Iron & Steel Works ("MMK", or "the Group") (MOEX: MAGN; LSE: MMK), one of the world's largest steel producers, announces that the Extraordinary General Meeting of Shareholders ("the EGM") was held in absentia on 24 December 2021.
  • In 2020, MMK produced 11.6 mln tonnes of crude steel and sold 10.8 mln tonnes of commercial steel products.
  • Subscribe to our official MMK channel in Telegram , to be the first to know about key MMK news.