Minerfin paid out €94.7m dividend but good times may be over
Minerfin (Tomáš Chrenek, Evžen Balko, Ján Moder and Mária Blašková), which supplies steel mills with raw materials and is among Slovakia’s most profitable companies, at least temporarily lost control of one of its most valuable assets, the Zaporizhzhya iron ore plant in southeastern Ukraine a few weeks ago. Russians now control the region. It produces 6m iron ore annually and the Russian invasion has not yet damaged it. Minerfin is supplying its clients from other mines in Ukraine and other countries, including overseas.
Thanks to rising steel and iron ore prices, Minerfin increased its net profit more than 4-times last year to €118.3m and its sales surged 47% to €464m. It paid out €94.7m dividend to its owners.
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