Business news

MINSK, 12 July (BelTA) – The Belarusian steel mill BMZ increased the export of its products by over 30% in H1 2018, BelTA learned from Ivan Demidov, Head of BMZ’s Planning and Economic Analysis Office, on 12 July.

In January-June 2018 BMZ exported 957,000 tonnes of merchandise worth $611.7 million or 131.5% as against H1 2017. The profitability of sales reached 9.6%. The stock in storage is at minimum and makes only 4.5% of the average monthly output. The executive specified that sales profitability was 6% in 2017.

Proceeds from sales amounted to $741 million in January-June 2018, 132.5% as against the same period of last year. Profit from sales reached $71.1 million, virtually twice as much as in H1 2017. BMZ managed to greatly expand the geography of deliveries thanks to the effective work of the sales service and the company’s distributors. The new customers are located in six countries: Guatemala (rolled steel), Costa Rica (seamless pipes), Malaysia (reinforcement bars), Mali (rolled steel), Panama (reinforcement bars), and Sudan (cast bars).

BMZ shipped 20,700 tonnes of merchandise worth nearly $11 million to the new countries. BMZ products have been shipped to 55 countries across the globe so far this year. In H1 2017 the geography of export was limited to 46 countries.

Ivan Demidov also said that the industrial output of OAO BMZ, the managing company of the holding company Belarusian Metallurgical Company, totaled Br1.39 billion in H1 2018 or 140% as against the same period of last year. “The fact vividly demonstrates the stable operation of the company and the optimal workload of its manufacturing divisions,” he stated.