MMK spent 2.24 bln rubles on social initiatives in 2017

Magnitogorsk Iron & Steel Works contributed over 1.4 bln rubles to the overall sum donated to charitable and social projects. MMK is the leading Russian mining and metallurgical company in terms of contribution to social welfare. Last year, each of the plant’s employees received a benefits package of 42,700 rubles.

The range of charitable and social programmes implemented by Magnitogorsk Iron and Steel Works and the wider MMK Group covers virtually all aspects of the lives of the Company's staff, and also includes its retired and former employees. One of MMK Group’s main social responsibilities has always been to support retired pensioners, disabled people and other vulnerable individuals. In 2017, MMK Group allocated almost 300 mln rubles for these purposes, to which PJSC MMK contributed 204.9 mln rubles.

Providing workers with medical treatment and implementing medical programmes also occupy an important place in the structure of MMK Group’s social expenditure. In 2017, the Group allocated around 500 mln rubles for these purposes, 450 mln rubles of which was spent on supporting workers or members of their families who were recovering from illness. The Group helps support and improve the health of its employees by encouraging them to develop a healthy lifestyle and practice regular physical training and sports. In 2017, 113 mln rubles were allocated for this purpose.

A significant aspect of MMK Group’s social activities is the implementation of programs to stimulate the birth rate and provide to large families and expectant mothers. In 2017, the Group allocated around 80 mln rubles for these purposes.

Another of MMK Group’s social activities is the organisation of cultural work – in 2017, the Group spent 87.8 mln rubles on maintaining сultural centres. The amount spent on providing hot meals for workers increased twofold in 2017, to 30 mln rubles. Costs for housing, youth, educational programs, additional pension benefits and other voluntary social commitments amounted to 126.3 mln rubles.

Magnitogorsk Iron & Steel Works is a socially-oriented enterprise. The plant takes it upon itself to behave in a socially responsible way towards its employees and the residents of Magnitogorsk. By financing social programmes, MMK is creating a sustainable foundation for the further development of Magnitogorsk and the entire Ural region.

Contacts:

Investor Relations Department:

Andrey Serov, Head of IR 
tel.: +7 (3519) 24-52-97
e-mail: serov.ae@mmk.ru

Communications Department: