ChTPZ’s net profit up five percent in 2016

Wednesday, 29 March 2017 16:52:57 (GMT+3)   |   Istanbul
       

According to its financial results according to international financial reporting standards (IFRS) for the full year of 2016, Russia-based steel pipe producer Chelyabinsk Tube-Rolling Plant (ChTPZ) registered a net profit of RUB 6.35 billion ($111.67 million), increasing by five percent compared to 2015.
 
In 2016, ChTPZ's sales revenues decreased by nine percent year on year to RUB 135.45 billion ($2.37 billion), while its gross profit declined by six percent year on year to RUB 39.91 billion ($700.96 million). In the same year, the company’s EBITDA fell by three percent year on year to RUB 27.9 billion ($490 million) and its EBITDA margin increased to 20.6 percent compared to 19.5 percent recorded in the previous year.
 
ChTPZ stated that in the current year it intends to maintain its production volume at the level of 2016. The strategic goals of the company for the current year are to increase its export supply with the aim of regional diversification of sales in conditions of falling demand, to increase competition in the domestic market, and to develop its presence in the Middle East and in the Americas.

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