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On December 7, 2021 we held MMK Capital Markets Day in hybrid format, where MMK leadership team will discussed the main steel market trends in Russia and the world, key steel consumption drivers as well as MMK 2025 strategy execution overview.
MMK ONLINE
CAPITAL MARKETS DAY
LIVE STREAM
Agenda
17:00 (UTC+3)
Event opening
17:20 (UTC+3)
MMK’s key development priorities
17:40 (UTC+3)
Market overview
18:00 (UTC+3)
MMK’s achievements and growth plans
18:20 (UTC+3)
Q&A
ASK A QUESTION
Some Russian companies have demerged or sold coal assets amid the global decarbonization trend. Would MMK consider such a possibility?

Antonina Kashkina
In light of updated group capex program over 2022-25, can we expect that FCF for dividend distributions will be calculated with the adjustment for "extra" capex (in excess of $700m)?

Anna Antonova
Can you please tell us more about the projects that drive the significant growth in environment-related capex (slide 15)?

Sergey Donskoy
Can you estimate the unit cost of syngas production? You estimate the syngas project to generate 34% IRR. What net cost savings per tonne of steel do you expect to achieve?

Sergey Donskoy
Slide 15 – average annual capex is expected to grow to $1.25bn – when do you expect to see this level? Already in 2022? If not in 2022 then what will be capex in 2022?

Nina Dergunova
MMK Metallurjii – how this asset is performing now? What’s the carbon footprint of these assets and do you view it as a long term option to increase exports to Europe given competitive advantage vs BOF producers?

Nina Dergunova
Russian government has directly indicated that they would prefer to see more investments rather than dividends from Russian metals & mining companies. Given that MMK Capex is estimated at $1.25bn pa in next years shall we be thinking of this as the optimal level of dividends from the company? Can we expect something as buybacks on top?

Nina Dergunova
Hello! Thank you for the presentation. In your earlier presentations you mentioned the new tin plate , cold-rolling and galvanizing facility to be commissioned in 2022-2026 aimed to bring additional 400kt of premium products. On page 40 of the new presentation you are forecasting 15% increase in premium products (+800 kt). Could you please elaborate on what steps you are going to take to reach the 6 mn t target of premium products?

Yulia Tolstykh

OUR SPEAKERS

Rashnikov Viktor Filippovich
Chairman of the Board of Directors
Shilyaev Pavel Vladimirovich
Chief Executive Officer
Tav Morgan
Independent Director
Sergey Nenashev Aleksandrovich
Director for Strategy and Development

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VICTOR RASHNIKOV
Chairman of the Board of Director

Chairman of the Board of Directors, PJSC MMK, Chairman of the Committee for Strategic Planning.
Victor Rashnikov was born on 13.10.1948 in Magnitogorsk, Chelyabinsk Region.

In 1974 he graduated from Magnitogorsk Institute of Mining and Metallurgy specializing in «Metal-forming process». In 1993 Mr. Rashnikov got another diploma in «Organization of production administration».
Mr. Rashnikov started his career in Magnitogorsk Iron and Steel Works in 1967 as a fitter in the metallurgical equipment repair shop. Then he was an operator, crew leader, foreman, shift manager, shop superintendent, head of administration for production and shipments.
In 1991 Mr. Rashnikov was appointed Chief Engineer and First Deputy General Director. In 1997 Mr. Rashnikov was appointed General Director of OAO MMK. Since April. 2005 he is Chairman of the Board of Directors. From 2006 to 2014 — President of MMK Management Company LLC.
Mr. Rashnikov holds a doctor’s degree in technical sciences (1998) and has been elected Honoured Professor of Moscow Institute of Steel and Alloys (2002) and Academician of the Russian Academy of Quality Problems.
He won a prize of the Government of the Russian Federation in science and engineering (2001 and 2002). Mr. Rashnikov got the national prize of Peter the Great «For the outstanding contribution into the Russian economy» (2000). He has numerous governmental and public awards, such as the Medal of Labour Merit (1986), Order of Honour (1995), Order of Merit for Motherland of IV degree (1998), III degree (2004) and II degree (2013), Order of Alexander Nevsky (2018), Order of the Reverend Sergiy of Radonezh from the Russian Orthodox Church (2001), Order of the Holy Blessed Grand Prince Daniil of Moscow (2005).
Mr. Rashnikov was five times elected Member of the Legislative Assembly of Chelyabinsk region. He is the Chairman of the Union of Industrialists and Entrepreneurs of Chelyabinsk region, President of Metallurg-Magnitogorsk Ice Hockey Club. Mr. Rashnikov is a member of the Management Bureau of the Russian Union of Industrialists and Entrepreneurs. He was declared Honorary Citizen of Chelyabinsk region.

In 1974 he graduated from Magnitogorsk Institute of Mining and Metallurgy specializing in «Metal-forming process». In 1993 Mr. Rashnikov got another diploma in «Organization of production administration».

1967
Mr. Rashnikov started his career in Magnitogorsk Iron and Steel Works in 1967 as a fitter in the metallurgical equipment repair shop. Then he was an operator, crew leader, foreman, shift manager, shop superintendent, head of administration for production.
1991
In 1991 Mr. Rashnikov was appointed Chief Engineer and First Deputy General Director.
1997
In 1997 Mr. Rashnikov was appointed General Director of OAO MMK. Since April.
2005
2005 he is Chairman of the Board of Directors.
2006
From 2006 to 2014 - President of MMK Management Company LLC.

PAVEL SHILYAEV

CEO
Member of the Board оf Directors, PJSC MMK, member of the Committee for Strategic Planning, Chairman of the management Board, CEO, PJSC MMK.
Born on 3 July 1970 in Kurgan.

1993

Started his career at MMK rising from technician to head of the company's repairs and maintenance centre.

2011

Аppointed acting Chief Engineer of MMK, and later, acting Deputy General Director for Production; November – Deputy General Director for Production.

2014

Аppointed acting CEO of Magnitogorsk Iron and Steel Works.

2017

Member of the Board of Directors of of Credit Ural Bank JSC.

2018

Member of the Board of the Autonomous Non-Profit Organization Central Clinical Medical Unit. Member of Legislative Assembly of Chelyabinsk Region.

TAV MORGAN

Independent director

Independent member of the Board of Directors, PJSC MMK, member of the audit committee and the Chairman committee on labor protection, industrial safety, ecology and partner at Baring Vostok Capital Partners

Tav Morgan was born November 9, 1968.


He graduated from Yale University (bachelor of arts in political science and international relations) and St. Anthony's college of Oxford university (M.Phil in economics and law, Russian & East European studies).


2000

Partner at McKinsey & Company 2000 – 2004.

2004

COO at Norilsk Nickel, 2004 – 2008.

2009

Managing Director at Goldman Sachs Russia/CIS, 2009 – 2012.

2012

Partner at Baring Vostok Capital Partners Group Limited, 2012 – 2020.

2014

Non-Executive Director at Tigers Realm Coal Limited, 2014 – 2020.

2015

Since 2015, Member of the Board of Directors of PJSC MMK.

SERGEY NENASHEV ALEKSANDROVICH

Director for Strategy and Development

Born 1 January 1979.

Graduated from Magnitogorsk State Technical University in 2001 with a degree in economics and management in the metals industry, and in 2005 from the Russian Government Finance Academy in financial management.


1999

Head of the Planning and Economics at Magnitogorskmezhraigas, Chief Economist at Magnitogorsk Energy Company, 1999 – 2003.

2003

From 2003 to 2007 he was CEO of LLC Upper Urals Distilling Company Yantar.

2007

From 2007 to 2014 Sergei Nenashev served as director of LLC Magnitogorsk Service Centre.

2015

From 2015 to 2016, Director for Labor Protection, Industrial Safety and Ecology of OJSC MMK.

2017

From 2017 to August 2021 - Commercial Director of PJSC MMK.

2021

Since August 2021 - Director for Strategy and Development of PJSC MMK.