MMK Group allocates over 1 billion roubles for social programmes and charity
The full range of social and charitable programmes implemented by the Magnitogorsk Iron and Steel Works (MMK) addresses all categories of the population. In the first half of the year, expenses were distributed as follows:
- Support for pensioners and people with disabilities – 165 million roubles. Assistance is provided through the Metallurg Fund as part of a charity program entitled Care.
- Support for children and youth, including assistance to educational and social institutions for children and other areas of charity – 156.6 million roubles.
- Medical assistance for employees and implementation of medical programs – more than 220 million roubles.
- Wellness retreats to sanatoriums for workers and members of their families – 168.5 million roubles.
- Children's country retreats – 23.4 million roubles. This summer, MMK opened a new modern football field at its Mountain Gorge children's camp, with artificial turf and running tracks – the cost amounted to 4.66 million roubles.
- Development of sports, maintenance of sports facilities and promotion of healthy lifestyle practices – 66.5 million roubles.
- Maintenance of culture centres and organization of cultural events – 45.6 million roubles.
- Organization of hot meals for MMK employees – 27.6 million roubles. As part of the Healthy Food program, MMK opened a canteen with a shop of ready-to-eat foods in the sheet rolling shop № 4, and repaired a canteen in the electric steel shop. The main building of the plant opened a cafe called MMCoffee.
- Protection of motherhood and childhood, support for large families and promotion of fertility – 44 million roubles. In particular, the company helped 28 large families of MMK employees to buy cars – 14.5 million roubles were allocated for these purposes.
In total, taking into account the costs of housing, youth, educational programmes and other voluntary social initiatives of MMK Group, the total cost of social programmes and charity amounted to 1.04 billion roubles in the first half of the year. Of this amount, 753.5 million roubles went to the parent company while the remainder was allocated to other companies of the Group.
MMK is one of the world's largest steel producers and a leading Russian metals company. The company's operations in Russia include a large steel-producing unit encompassing the entire production chain, from the preparation of iron ore to downstream processing of rolled steel. MMK turns out a broad range of steel products with a predominant share of high-value-added products. In 2018, the company produced 12.7 mln tonnes of crude steel and 11.7 mln tonnes of commercial steel products. MMK Group had sales in 2018 of USD 8,214 mln and EBITDA of USD 2,418 mln.
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