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Mechel annual general meeting scheduled for June 30

May 18, 2016
The Board of Directors of Mechel PAO made a decision to convene this year's annual general meeting on June 30. According to the company's statement, the record date is May 23.

At the meeting, the shareholders are expected to consider a number of standard matters: approval of the annual accounts and the 2015 dividends, election of a new Board of Directors and a new internal audit commission, approval of the auditor, amendments to the regulation on compensations to members of the Board of Directors, approval of interested party transactions.

Mechel PAO (tax number: 7703370008) is one of the leading Russian companies. The company's profile covers 4 business segments: mining, metallurgical, ferroalloy industry and power engineering. The company unites manufacturers of coal, iron-ore concentrate, nickel, steel, rolled products, high-added value products, thermal and electric energy. Mechel's goods are sold in Russia and worldwide.

IFRS net loss of Mechel PAO for 2015 decreased by 13.22% to RUB 115.163 billion from RUB 132.704 billion for 2014. Revenue increased by 3.75% to RUB 253.141 billion from RUB 243.992 billion, operating profit of 2.4 times to RUB 29.203 billion from RUB 12.147 billion, EBITDA by 53.67% to RUB 45.73 billion from RUB 29.759 billion. EBITDA margin increased to 18% from 12% in 2014.

According to AK&M Information Agency's DataCapital information retrieval system, RAS net loss of Mechel PAO for Q1 2016 went up 56.4% to RUB 4.548 billion from RUB 2.908 billion the year before. Revenue decreased by 6.35% to RUB 653.098 million from RUB 697.345 million, sales profit by 18.68% to RUB 308.943 million from RUB 379.912 million, loss before tax increased by 52.69% to RUB 4.576 from RUB 2.997 billion.
Company — Mechel
  • Full name
    Mechel PAO
  • Registration country
    Russia
  • Industry
    Ferrous metals