Key consolidated highlights

Key Corporate Highlights
Cash operating costs 2017 2016 Change,%
Revenue 9,146 8,259 11%
EBITDAA non-IFRS measure, for the calculation see the notes below. 3,995 3,899 2%
EBITDA margin 44% 47% (3 p.p.)
Net profit 2,123 2,531 (16%)
Capital expenditures 2,002 1,714 17%
Free cash flowA non-IFRS measure, for the calculation see an analytical review document ( "Data book") available in conjunction with Consolidated IFRS Financial Results on the Company’s web site. (173) 1,591 (111%)
Net working capitalA non-IFRS measure, for the calculation see an analytical review document ( "Data book") available in conjunction with Consolidated IFRS Financial Results on the Company’s web site. 2,149 455 5x
Net debtA non-IFRS measure, for the calculation see an analytical review document ( "Data book") available in conjunction with Consolidated IFRS Financial Results on the Company’s web site. 8,201 4530 81%
Net debt, normalized for the purpose of dividend calculationNormalized on interim dividends and deposits with maturity of more than 90 days. 7,495 n.a. n.a.
Net debt/12M EBITDA 2.1x 1.2x 0.9x
Net debt/12M EBITDA for dividends calculation 1.88x n.a. n.a.
Dividends paid per share (USD) Paid during the current period. 18.8 7.8 141%
Key Segmental HighlightsSegments are defined in the consolidated financial statements.
USD million (unless stated otherwise) 2017 2016 Change,%
Revenue 9,146 8,259 11%
Group GMK 7,671 6,194 24%
Group KGMK 888 664 34%
NN Harjavalta 840 727 16%
Other metallurgical 141 84 68%
Other non-metallurgical 1,266 1,699 (25%)
Eliminations (1,660) (1,109) 50%
Consolidated EBITDA 3,995 3,899 2%
Group GMK 4,701 3,883 21%
Group KGMK 169 117 44%
NN Harjavalta 84 45 87%
Other metallurgical (53) (11) 5x
Other non-metallurgical 114 119 (4%)
Eliminations (377) 112 n.a.
Unallocated (643) (366) 76%
EBITDA margin 44% 47% (3 p.p.)
Group GMK 61% 63% (2 p.p.)
Group KGMK 19% 18% 1 p.p.
NN Harjavalta 10% 6% 4 p.p.
Other metallurgical (38%) (13%) (25 p.p.)
Other non-metallurgical 9% 7% 2 p.p.