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.