“We have finished adapting the Group to the new conditions,” extensive interview of Metinvest CEO Yuriy Ryzhenkov to Forbes Ukraine
In an interview with Forbes Ukraine, CEO of Metinvest Group sums up the results of 2023 for the Group, speaks about green transformation plans, military production, adaptation during the war, and the main security and business factors that shaped the picture of the past year.About the year’s resultsMetinvest earned US$47 million in profit in the first six months of the year. The result for 2022 was a loss of US$2.2 billion. Can we say that the company has fully adapted to the new conditions?The main thing we have managed to do is build new supply chains and find alternative sources of raw materials we need for production. For example, we previously produced coke at Avdiivka Coke. Now we buy it in Poland. We have also found suppliers in Hungary and Italy. The same goes for the rest of the products. This has allowed us to stabilise the processes at our plants. Steelmakers earn money only when they work steadily and when there are no major fluctuations in production.So, yes, we can now s
