KYIV, Feb 16 - Metinvest B.V., Ukraine’s largest steel and mining company, increase net income by 54% to $526 million in 2020 from $341 million in 2019, the company reported Tuesday.

The company said its profit margin rose to 5% in 2020 from 3% in 2019.

"Last year, the COVID-19 pandemic brought much of the global economy to a standstill. I am proud to report that Metinvest again proved able to navigate profound market challenges. We achieved higher margins and carried out key investment projects. We also protected our employees and communities while making progress on our environmental, social and governance (ESG) agenda," Yuriy Ryzhenkov, the Chief Executive Officer of Metinvest, said commenting on the results.