May 31, 2019 / 10:54 AM / 20 days ago

Russia's Metalloinvest posts quarterly profit up 29.6%

MOSCOW, May 31 (Reuters) - Russia’s biggest iron ore producer Metalloinvest’s first-quarter net profit rose by 29.6% year on year to $539 million, it said on Friday, helped by sales of higher-value products and an increase in iron ore and pellet prices.

* Metalloinvest first-quarter revenue totalled $1.9 billion, up 2.4% year on year, while earnings before interest, tax, depreciation and amortisation (EBITDA) rose by 8.1% to $730 million.

* Net debt stood at $3.3 billion at the end of March, down 0.7% from the end of December.

* First-quarter capital expenditure was $88 million, down 7.4% from a year ago. (Reporting by Polina Devitt Editing by David Goodman)

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