PJSC MMC Norilsk Nickel announced its consolidated financial results for the first half of 2025. The company's revenue amounted to $6.5 billion, which is 15% more than in the same period of 2024. The growth is due to increased metal sales and the resolution of logistical challenges.
EBITDA increased by 12% to $2.6 billion. Profitability remained high at 41%. Capital expenditures increased by 15% to $1.1 billion. These funds are directed towards environmental projects, infrastructure modernization, and equipment upgrades.
The company's net debt reached $10.5 billion, which is 22% more than at the beginning of the year. This is due to the revaluation of the ruble-denominated portion of the debt due to the strengthening of the ruble exchange rate. At the same time, free cash flow almost tripled to $1.4 billion.
On August 1, Nornickel placed exchange-traded bonds worth $975 million. These funds will be used to refinance current obligations.
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