In its financial results according to international financial reporting standards (IFRS) for 2012, Russia-based leading global iron ore and hot briquetted iron (HBI) producer Metalloinvest's net profit increased by 20.4 percent compared to 2011 to $1.724 billion. In 2012, the company's consolidated revenues declined by 17.4 percent year on year to $8.194 billion due to a decline in iron ore prices during the second half of 2012.
Metalloinvest's adjusted EBITDA decreased by 34.1 percent year on year to $2.553 billion in 2012. Its adjusted EBITDA margin had been 39 percent in 2011, falling to 31.2 percent in 2012.