20 Mar, 08:26

MMK reports 32.6% drop in 2024 net profit under IFRS

MMK Group’s capital expenditures for the 12 months of 2024 rose by 4.2%, amounting to 98.8 bln rubles ($1.17 bln), in connection with the ongoing implementation of development projects within the company’s strategic growth plan

MOSCOW, March 20. /TASS/. The MMK Group’s net profit under the International Financial Reporting Standards (IFRS) for 2024 declined by 32.6% compared to the 2023 figure, amounting to 79.74 bln rubles ($949.29 mln), according to the company’s financial statements.

Revenue for the reporting period increased by 0.7% to 768.46 bln rubles ($9.14 bln), driven by rising prices for metal products amid higher costs and inflationary pressures. Meanwhile, EBITDA contracted by 21.8%, reaching 153.02 bln rubles ($1.82 bln), reflecting the rising prices of key metallurgical raw materials and an increase in the company’s payroll fund. The EBITDA margin stood at 19.9%.

MMK’s free cash flow for 2024 grew by 15.3% to 35.46 bln rubles ($420.9 mln), attributed to the normalization of working capital and an increase in interest income from deposits.

Capital investments and forecast for the year

MMK Group’s capital expenditures for the 12 months of 2024 rose by 4.2%, amounting to 98.8 bln rubles ($1.17 bln), in connection with the ongoing implementation of development projects within the company’s strategic growth plan.

MMK also noted that at the beginning of 2025, seasonal factors and the elevated key interest rate are expected to continue exerting adverse effects on business activity in Russia. However, in the Q1 2025, MMK will proceed with its blast furnace overhaul program.

MMK ranks among the world’s largest steel producers and holds a leading position in Russia’s ferrous metallurgy sector. The company manufactures a broad range of metal products, with a predominant share of high value-added products catering to all major metal-consuming industries of the Russian economy.

Yesterday, 15:40

Russian stock market in the red on Friday — market data

The MOEX Russia Index lost 0.98% to 3,191.61 points, while the RTS Index edged down by 1.26% to 1,187.89 points

Yesterday, 15:45

Britain may be behind explosion of Sudzha gas metering station — Russian politician

The destruction of the gas metering station in Sudzha by Ukrainian forces is a provocation designed to undermine the peace initiatives of US President Donald Trump, Sergey Mironov stated

16 Jan 2024, 11:34

Idea of relocating Russia’s capital city to Irkutsk in Siberia not feasible — Kremlin

Dmitry Peskov explained that he had not read the letter outlining the capital relocation proposal itself, but was aware of its contents from the media

Yesterday, 14:38

Russian Central Bank chief says economy in zone of elevated uncertainty

Elvira Nabiullina still noted that the economy "follows a 'soft landing' path"

Yesterday, 21:16

UAV attack causes explosion in apartment building in Russia’s Rostov-on-Don

According to preliminary reports, no deaths occurred, and two people were injured

Press review: Russia, US discuss ceasefire as the West forms new NATO alliances

Top stories from the Russian press on Tuesday, March 18th

Yesterday, 14:31

Russian troops liberate three communities in Ukraine operation over week

Russia’s Battlegroup West inflicted more than 1,670 casualties on Ukrainian troops and destroyed 19 enemy armored fighting vehicles in its area of responsibility over the week, the Defense Ministry reported

Two days ago, 16:57

Zelensky admits Ukraine no longer being invited to NATO

At the same time, the Ukrainian president denied saying that he was ready "to discuss the question of Ukraine’s neutral status"

Yesterday, 10:00

Press review: Moscow forms delegation for US talks as EU fails to approve aid for Kiev

Top stories from the Russian press on Friday, March 21st

US makes significant progress in converging positions of Russia, Ukraine — envoy Witkoff

Technical teams are going to be meeting in Jeddah beginning Monday

Yesterday, 20:54

Newly-elected IOC president to discuss with taskforce possible return of Russian athletes

Kirsty Coventry stated it in response to a question whether Russian athletes would be likely to take part in the 2026 Winter Olympics

Yesterday, 12:18

Many EU leaders oppose sending troops to Ukraine — news agency

Accoriding to the sources, most of the participants in the meeting of the "coalition of the willing" expressed their unwillingness to participate directly in sending forces to Ukraine, limiting themselves to offering support to those NATO countries that decide to deploy their troops there

Yesterday, 14:46

Russia receives slew of people’s requests for resettlement from West — Zakharova

The Russian diplomat stressed that for most countries, Russia is becoming a "pioneer" that strives to defend vital things regardless of sanctions and restrictions, because they are universal

Yesterday, 01:49

Russian Security Council Secretary Shoigu arrives in North Korea

It is planned that Shoigu will meet with the leader of the DPRK Kim Jong Un and other leaders of the country

Yesterday, 09:04

Ukraine's military intelligence chief identified as organizer of drone attacks on Russia

They have been charged in absentia and placed on the wanted list

Yesterday, 08:32

Russia’s top diplomat Lavrov receives highest state order as he turns 75

According to the Russian President's decree, the order was conferred to Sergey Lavrov to recognize his "outstanding services to the Fatherland, significant contribution to developing and implementing Russia’s foreign policy course, and years of dedicated activity as a statesman"

Yesterday, 15:00

Navy development strategy to account for Ukraine operation experience — Maritime Board

The document is expected to contribute to the defense of Russia and the protection of its national interests in the World Ocean

12 Dec 2023, 17:19

West overlooks crimes by Zelensky’s gangland regime — European Parliament member

Thierry Mariani said Zelensky "behaves like a mafioso, ready to eliminate those whom he considers a threat to his own power"

Yesterday, 13:21

Ukrainian troops forbade people in Kursk Region to evacuate to use them as human shield

The Ukrainian militants had previously acted in a similar way against civilians in the city of Mariupol and other settlements

Yesterday, 16:36

Putin orders establishment of unmanned aviation development center in Samara Region

A report on the implementation of the order must be submitted to the head of state by June 15

Two days ago, 16:16

Trump fully supports Israel’s current military operation in Gaza — White House

Press Secretary Karoline Leavitt said that previously Donald Trump threatened Palestine’s radical movement Hamas with tough measures if Israeli hostages are not released

Yesterday, 10:02

US has considerable influence on Kiev, but weak on Moscow, expert says

Li Haidong, a professor at the China Foreign Affairs University, in turn, told the newspaper that the US realizes that an immediate and comprehensive ceasefire between Russia and Ukraine is unattainable

Yesterday, 17:57

Issue of dividing Ukrainian territories being discussed right now — Trump

On March 3, Donald Trump described Vladimir Zelensky’s remark about the conflict being far from over as "the worst statement that could have been made"

Yesterday, 13:35

Ukrainian troops 'cling' to Chasov Yar, unwilling to give up strategic height — DPR head·

"We see that the enemy 'clung' to Chasov Yar, realizing that this settlement is located on elevated ground, the dominant height, and in the future our units will have operational space in terms of advancing in a number of directions: to Kramatorsk, to Slavyansk, to Konstantinovka, so, of course, the enemy is impeded," Denis Pushilin said

Yesterday, 13:32

US makes exception for Hungary from sanctions against Gazprombank — Szijjarto

The exception from sanctions against Gazprombank for Hungary will be effective until May, the Hungarian Foreign Minister said

UK policy may lead to total destruction of Ukraine — Russian ambassador

In his words, the United Kingdom has chosen to go into confrontation

Russia reserves right to respond symmetrically to Ukraine’s energy infrastructure strikes

Russian Foreign Ministry spokeswoman Maria Zakharova noted that despite the agreement initiated by the US on not striking energy infrastructure facilities, Kiev continues treacherous attacks on Russian territory

Yesterday, 19:58

US State Department refrains from saying who will be on delegation to talks with Russia

"I think it's inappropriate to discuss personnel, let alone senior officials who might be on a negotiation team," US Department of State Spokesperson Tammy Bruce said

Yesterday, 09:10

Ovechkin's 888th goal helps Caps clinch playoff spot, now six away from Gretzky

Alexander Ovechkin now has 35 goals in 53 games this season

Yesterday, 15:59

Zelensky doing damage control after losing big in Jeddah talks — expert

Mikhail Pavliv explained that in Jeddah, the Americans got everything they wanted in the military aspect from Ukraine very quickly

Militants kill over 40 people in southwestern Niger

The government has pledged to find and bring to justice not only those who committed the crime but also their accomplices, sponsors, and supporters

Yesterday, 07:47

Court convicts 46 Ukrainian soldiers for crimes in Kursk Region — Investigative Committee

Eight commanders of the Ukrainian Armed Forces brigades who participated in the attack on the Kursk Region were charged in absentia, the spokesperson said

Yesterday, 15:36

No key rate lowering discussed — Bank of Russia

Rate reduction can only be expected "after we will be confident that inflation is declining consistently, steadily, and with the pace enabling us to return inflation to 4% in 2026"

Yesterday, 17:40

Confines of Ukraine deal already there, following contacts with Putin, Zelensky — Trump

The US leader also reiterated that the Ukrainian conflict would have never happened if he had been president in 2022

Yesterday, 17:32

Syria’s authorities plan to strip foreign mercenaries of citizenship granted under Assad

The decision doesn’t apply to those who received citizenship "under legal procedures, such as marriage to Syrian nationals," Director General of Civil Affairs in Syria, Abdullah Abdullah, explained

Yesterday, 13:51

Belgian PM warns confiscating Russian assets to be 'act of war'

The European Union, Canada, the United States and Japan froze $300 billion worth of Russia's assets after the start of the special military operation

Yesterday, 21:50

US set to hold meeting with Ukraine in Riyadh one day ahead of talks with Russia — media

The Diplomatic website notes that Washington aims to make swift progress to announce a ceasefire agreement as soon as possible

24 Jan 2019, 18:05

How Russia’s population changed over the years

Key facts about Russia's population since the year 1897

Yesterday, 15:47

Trump says likes idea of Charles III’s 'secret offer'

The newspaper earlier pointed out that during Trump's potential state visit to the United Kingdom, Charles III could propose that the United States become a member of the British Commonwealth

Two days ago, 16:29

Poland’s exit from Ottawa Convention shows disregard for int'l obligations — Zakharova

The Russian Foreign Ministry spokeswoman stressed that "Western countries are ready to abandon their international legal obligations at literally any moment - whenever they feel like it, whenever it suits them"

Two days ago, 17:59

Armenia to lose many privileges if it joins EU — Russia’s top security official

Sergey Shoigu recalled that money transfers from Russia into Armenia amount for approximately 15% of the country’s GDP

Yesterday, 20:34

US attacks Houthi targets in Yemen’s southwestern Saada governorate — TV

No data on casualties were provided

Yesterday, 12:14

Shoigu hands over message from Putin to North Korea’s Kim

The Russian Security Council secretary stressed that Vladimir Putin pays the utmost attention to the implementation of agreements reached with the North Korean leader

Yesterday, 22:51

Trump dodges question on US giving up command of NATO force in Europe

This position held exclusively by American generals since 1951

Two days ago, 14:26

Russia to invite US to meeting of high representatives on security issues — Shoigu

Sergey Shoigu noted that representatives from over 100 countries had already confirmed their participation in the upcoming meeting

Yesterday, 15:14

Kremlin slams Kiev's accusations that Russia itself shelled Sudzha gas station as 'absurd'

Dmitry Peskov emphasized that such a statement "shows once again how much we can believe and trust the Kiev regime"

Two days ago, 16:02

Macron's talk of sending 'peacekeepers' to Ukraine shows disconnect from reality — MFA

"We have repeatedly said that introduction of so-called peacekeepers into Ukraine in practice would mean a foreign military intervention that further escalates the conflict," Maria Zakharova stated

Yesterday, 03:30

Tanks of Battlegroup Dnepr destroy strongholds of Kiev forces in Zaporozhye region

According to a tank commander with the call sign Veter, the Battlegroup Dnepr continues to carry out combat missions in the Zaporozhye direction, showing high efficiency and professionalism

Two days ago, 18:59

EU protracts conflict in Ukraine at any cost, ignoring calls for peace — European MP

Harald Vilimsky added that "the European Union is treating Hungary as if it does not exist"

Russian forces shot down MiG-29 aircraft of Ukrainian Air Force

The Ukrainian Armed Forces have also lost more than 500 servicemen per day as a result of the actions of Russia’s Center battlegroup

Yesterday, 16:14

Kiev does not consider UN peacekeepers as alternative to security guarantees

Vladimir Zelensky said that "the UN will not have any mandate to protect Ukraine"

Russia expects to achieve progress in negotiations in Riyadh, senator says

Grigory Karasin added that Russian delegation members would return home on March 25

Envoy Witkoff cites status of five Russian regions as key issue in Ukraine conflict

According to him, 'that's the key issue in the conflict'

Yesterday, 12:33

Russia’s top security official thanks North Korea for solidarity on Ukraine

Sergey Shoigu emphasized that "Russia highly values the achieved level of strategic relations between the countries and is committed to deepen them"

Twitter logo removed from former headquarters sells for nearly $35,000 at auction

The purchaser has not been named

Yesterday, 23:17

Trump disagrees Russia rejected Ukraine ceasefire

Meanwhile, the US leader also effectively indicated that it is premature to discuss tightening Washington’s sanctions against Moscow

Security services of unfriendly state behind terrorist attack at Crocus City Hall

The representative of the Investigative Committee did not specify which country it was

Yesterday, 13:14

Putin requests allocation of extra funds for development of satellites for drone control

The execution deadline is June 1, 2025

Ukrainian forces lose up to 315 servicemen in Russia’s South battlegroup zone

At the same time, the Ukrainian Armed Forces have lost up to 85 servicemen in the area of responsibility of Russia’s Dnepr battlegroup over the past 24 hours

Yesterday, 11:23

Strike on Sudzha gas metering station shows real worth of Kiev's promises — Kremlin

In the early hours of March 21, the Ukrainian military blew up the Sudzha gas metering station, a key conduit through which Russian gas once flowed to Europe

Over 570 civilians evacuated from border areas in Russia’s Kursk Region — acting governor

According to the acting regional governor, doctors, psychologists, legal experts and social welfare workers are providing the necessary assistance to the evacuees

Two days ago, 15:04

Russia has no plans to attack Germany — MFA on Merz's remarks

"If Berlin makes such claims, it means that Germany may have such plans itself; but in that case, Berlin needs to call things by their proper name," Maria Zakharova stated

Ukrainian Armed Forces lost up to 95 servicemen in Belgorod direction in 24 hours

The Ukrainian Armed Forces also lost up to 165 servicemen in the area of responsibility of Russia’s East battlegroup over the past 24 hours

Two days ago, 00:01

Hungary wants to resumes its exports to Russia — PM

The Hungarian Prime Minister spoke to journalists in Brussels after a meeting of the leaders of the parties that formed the Patriots of Europe faction

Yesterday, 10:59

Russian investigators open case over Ukrainian troops' blowing up of Sudzha gas station

The investigation established that on March 20, Ukrainian servicemen, having illegally entered Russian territory, intentionally detonated the Sudzha gas distribution station

Former world boxing champion George Foreman dies at 76

He was twice honored as Fighter of the Year by The Ring magazine in 1973 and 1976

Yesterday, 12:18

Putin calls for technological leadership in unmanned aerial systems within five years

The Russian president also ordered to take measures providing for the use of solutions based on artificial intelligence in manufacturing and operation of drones

Yesterday, 19:25

Several prisoners break out in Syria’s Aleppo during riot — TV

Security forces managed to suppress the rioters and regain control of the institution, but a number of convicts managed to escape

Yesterday, 08:48

Preparations for Operation Flow in Kursk Region took three months — commander

About 500 Russian fighters moved through the pipe towards Sudzha

Yesterday, 20:55

Turkish opposition leader says 210,000 people taking part in rally in Istanbul

Rallies and marches in support for detained Istanbul Mayor Ekrem Imamoglu are also held in Ankara and several other Turksih cities

Yesterday, 15:01

Russia honors $65.6 mln Eurobond coupon payment — Finance Ministry

Payments were made in accordance with the decree of the Russian Federation on the temporary procedure of honoring state debt liabilities of the Russian Federation to residents and foreign creditors

Russian forces hit Ukrainian military airfields, ammunition depots in 135 districts

At the same time, Russia’s air defense systems have shot down a MiG-29 aircraft of the Ukrainian Air Force over the past 24 hours, the Russian Defense Ministry reported

Yesterday, 18:21

Russia calls on Israel to stop expanding settlements in Palestine — Russian mission to UN

As Dmitry Polyansky underlined, he is convinced that "the Security Council can and must play a role in the negotiating process and make sure that its results are observed by all parties"

Europe unlikely to lift sanctions even if Ukraine conflict is settled

President of the Russian Union of Industrialists and Entrepreneurs Alexander Shokhin said that any settlement option is unlikely to satisfy Europe

Two days ago, 11:41

Russian forces strike military train with Ukrainian ammo, armament over past day

Russia’s Battlegroup West inflicted more than 240 casualties on Ukrainian troops and destroyed five enemy artillery guns in its area of responsibility over the past day, the Defense Ministry reported

Envoy Witkoff 100% certain Russia has no plans to attack Europe

US Presidential Special Envoy noted he finds the claims that 'the Russians are going to march across Europe' odd

Taiwan detects 47 Chinese PLA warplanes near island

Taiwan’s defense agency has regularly recorded the approach of Chinese warplanes and warships of late

Yesterday, 17:07

Europe uses idea of sending troops to Ukraine for blackmail to upset US-Russia talks-view

Vitaly Kiselev noted that reports from Russia’s sympathizers in Bulgaria, Slovakia, and the Czech Republic indicate that local media are propagating the narrative that the Kiev forces have not surrendered Sudzha

NATO plotting major smear campaign against Zelensky — Russian intelligence

Thus, according to the SVR, it is planned to "make public information that the 'president' personally and his team have misappropriated more than $1.5 billion only from funds meant to buy munitions"

14 Jan 2020, 02:48

Iran’s defense minister says strike on US base was ‘necessary action’

Hatami was speaking about the consequences of the killing of General Qassem Soleimani, the head of Iran's Islamic Revolutionary Guard Corps' Quds Force

Ukraine's leadership agrees to hold presidential election — envoy Witkoff

American journalist Tucker Carlson recalled that 'the Russian position is he is not elected,' so one 'can't sign any kind of treaty with him'

Yesterday, 05:18

Russian forces take control of major Ukrainian stronghold near Kremennaya in LPR — expert

Russian fighters have so far taken a new foothold and are conducting a clearance operation, Andrey Marochko specified

Kiev fears Trump may agree to cede Odessa to Russia — media

The US president did not specify which specific regions he was referring to, but the White House has already made it clear that Russia is expected to maintain control over territories "that its troops already command," the newspaper said

Trump may break NATO up without formal withdrawal — media

According to the magazine, "the White House does, in fact, have many options, if it wishes to undermine the alliance"

Trump says set no deadline for ceasefire in talk with Putin

Putin and Trump held a phone call on March 18, discussing the idea of a 30-day ceasefire in the Ukraine conflict

Shoigu met with Serbian Deputy Prime Minister Vulin

The previous meeting between Shoigu and Vulin took place in February, during which they discussed "the advancement of bilateral security cooperation and the current situation in Serbia"

Houthis report strike on Ben Gurion airport, US vessels in Red Sea

Following the escalation of the Israeli-Palestinian conflict in the Gaza Strip, the Ansar Allah movement said it would strike Israeli territory

Investigation into American Tater's attack on police officer complete

According to the documents obtained by TASS, the supervisory agency approved the indictment and sent the charges to the capital's court

Yesterday, 09:08

Around world in 75 years: Sergey Lavrov celebrates milestone anniversary

Back in 2021, the minister said that he had visited about 150 states, but Russia was always the most attractive country for him

Yesterday, 11:10

Russian forces not hitting Ukraine's energy sector, Putin's order in force — Kremlin

After talks with his US counterpart Donald Trump, Russian President Vladimir Putin ordered a halt to attacks on Ukrainian energy infrastructure

Yesterday, 14:53

UK to speed up work on forming 'peacekeeping force' for Ukraine — spokesman

Keir Starmer's spokesman added that UK military planners will meet next week to discuss the terms of reference for a potential Western military contingent in Ukraine

Decision on Russia’s hockey team participation in the Olympics to be made in April

In early February, the IIHF Council extended its sanctions against Russian and Belarusian teams through the 2025-2026 season, with a stipulation that the decision could be reconsidered should the global political situation change

Yesterday, 15:27

Over 560 people evacuated from Kursk Region’s Sudzha district — Emergencies Ministry

According to the report, these people are taken to temporary accommodation centers where they can receive all necessary assistance

Envoy delivers Trump’s portrait commissioned by Putin to US president

Witkoff said in an interview with US journalist Tucker Carlson that the two leaders had sent signals to each other of their readiness for dialogue

Yesterday, 23:34

Unidentified gunmen open fire on Iraqi consulate in Istanbul — Foreign Ministry

The street around the diplomatic mission remains blocked, as Turkish authorities have 'launched an investigation into the incident'

Serbia withdrew its vote on anti-Russian UN resolution, not wanting to ‘offend friends’

Serbian Deputy Prime Minister Aleksandar Vulin also noted that Serbia has not joined Western sanctions against Russia and will continue to adhere to this stance

Yesterday, 14:38

IN BRIEF: What is known about Ukrainian sabotage of Sudzha gas metering station

The Ukrainian troops used the facility as a secure logistics point while the station was under their control

Yesterday, 19:11

Thousands taking part in opposition rallies in Ankara, Istanbul

The opposition-organized rallies are proceeding peacefully

Hezbollah denies involvement in missile attacks on Israel

According to the LBCI television channel, Hezbollah conveyed this information to Lebanese President Joseph Aoun and Prime Minister Nawaf Salam

Four Russian Emergencies Ministry employees wounded in Gorlovka during UAV attack

The Emergencies Ministry added that the fire truck was also damaged

Serbian authorities will not allow western services to orchestrate ‘color revolution’

Vulin expressed his gratitude to Shoigu and to Russian President Vladimir Putin for their "attitude and position" amid the ongoing events