TMK announces IFRS results for 2011

Friday, 16 March 2012 17:30:58 (GMT+3)   |  
       

In its financial results according to international financial reporting standards (IFRS) for 2011, Russian pipemaker TMK increased its net income by 3.7 times compared to 2010 to $385 million. In 2011, the company's sales revenues went up by 21 percent year on year reaching $6.754 billion, driven  by higher volumes, improved pricing and favourable product mix.

TMK's adjusted EBITDA increased from $942 million in 2010 to $1.050 billion in 2011. Adjusted EBITDA margin had been 17 percent in 2010, declining to 16 percent in 2011.


Similar articles

US OCTG exports up 26.8 percent in January

27 Mar | Steel News

Chinese steel pipe export offer prices edge down slightly

27 Mar | Tube and Pipe

India’s VSTL setting up greenfield steel pipe making unit in Odisha

27 Mar | Steel News

Japanese crude steel output down 3.8 percent in February from January

27 Mar | Steel News

India’s Welspun secures $62 million steel pipe supply contract in Saudi Arabia

26 Mar | Steel News

Some EU flat steel import quotas about to be exhausted near end of period

26 Mar | Steel News

US HSS prices revise downward yet again due to soft HRC prices

25 Mar | Tube and Pipe

Canada initiates review on line pipe from S. Korea

25 Mar | Steel News

India’s Welspun and Saudi Arabia’s Aramco terminate steel pipe supply contract

25 Mar | Steel News

US and Canadian rig counts both decline week-on-week

22 Mar | Steel News