Advertisement
Mechel PAO, one of the leading Russian mining and metals companies, has announced its 1Q21 operational results.
Mechel PAO’s CEO, Oleg Korzhov, commented on operational results:
“Our operational dynamics in 1Q21 were largely what they were due to conditions our company worked in last year, caused by both external and internal factors. Even as the decrease in debt leverage due to restructuring and partial repayment of our loans had its positive impact; starting in April – May, Mechel felt the lack of cash flow sufficient for financing our operations as needed. This was due to a major slump in coal and steel prices because of the pandemic. Underfunding of our operations in 2H20 led to a major reduction in stripping and negative dynamics in coal mining and sales in 1Q21 accordingly. The steel division had a similar situation.
EQS-News: PJSC Mechel: Mechel Reports 1Q2021 Operational Results
PJSC Mechel: Mechel Reports 1Q2021 Operational Results
20.05.2021 / 13:00 MSK
MECHEL REPORTS 1Q2021 OPERATIONAL RESULTS
Moscow, Russia - May 20, 2021 - Mechel PAO (MOEX: MTLR, NYSE: MTL), one of the leading Russian mining and metals companies, announces 1Q2021 operational results.
Mechel PAO s Chief Executive Officer Oleg Korzhov commented on operational results. Our operational dynamics in 1Q2021 were largely what they were due to conditions our company worked in last year, caused by both external and internal factors. Even as the decrease in debt leverage due to restructuring and partial repayment of our loans had its positive impact, starting in April-May Mechel felt the lack of cash flow sufficient for financing our operations as needed. This was due to a major slump in coal and steel prices because of the pandemic. Underfunding of our operations in the second half of last year led to a major reduction in s
PJSC Mechel : Mechel Reports 1Q2021 Operational Results
EquityStory.RS, LLC-News: PJSC Mechel / Key word(s): Quarter Results
20.05.2021 / 13:00 MSK
MECHEL REPORTS 1Q2021 OPERATIONAL RESULTS
Moscow, Russia - May 20, 2021 - Mechel PAO (MOEX: MTLR, NYSE: MTL), one of the leading Russian mining and metals companies, announces 1Q2021 operational results.
Mechel PAO s Chief Executive Officer Oleg Korzhov commented on operational results. Our operational dynamics in 1Q2021 were largely what they were due to conditions our company worked in last year, caused by both external and internal factors. Even as the decrease in debt leverage due to restructuring and partial repayment of our loans had its positive impact, starting in April-May Mechel felt the lack of cash flow sufficient for financing our operations as needed. This was due to a major slump in coal and steel prices because of the pandemic. Underfunding of our operations in the second half of last year led to a major re
EQS-News: PJSC Mechel : Mechel Reports 1Q2021 Operational Results boersennews.de - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from boersennews.de Daily Mail and Mail on Sunday newspapers.