Russian iron and steel company MMK's earnings before interest, taxes, depreciation and amortization (EBITDA) increased by 16.1 percent to $650 million in the second quarter of 2018, compared with the first quarter of 2018, the company said on Thursday.
The company's revenue also increased by 2.5 percent in the second quarter of 2018 compared to the first quarter.
MMK said the revenue increase was due to growth in sales volumes of finished products, an improved sales mix and higher prices.
Second quarter revenue from MMK's Turkish division, MMK Metalurji, saw a decrease to $162 million.
'This decline was due to the decrease in finished product sales by 14.3 percent quarter-on-quarter,' the company explained.
By Murat Temizer
Anadolu Agency
energy@aa.com.tr