Russian iron and steel company MMK's earnings before interest, taxes, depreciation and amortization (EBITDA) increased by 23.9 percent to $560 million in the first quarter of 2018, compared with the same period last year, the company said on Tuesday.
MMK said that revenue increased in the first quarter of 2018 due to stable and sustained sales volumes of finished products amid improved sales mix and higher prices.
The company's revenue also increased by 23.8 percent in the first three months of 2018 quarter-on-quarter.
MMK's Turkish segment MMK Metalurji’s revenue for the first quarter amounted to $189 million, up 12.5 percent quarter-on-quarter.
"This growth was due to the increase in finished product sales by 8.1 percent compared with the same quarter of 2017," the company explained.
By Murat Temizer