According to its financial results based on international financial reporting standards (IFRS) for the full year of 2017, Russia-based steel pipe producer Chelyabinsk Tube-Rolling Plant (ChTPZ) registered a net profit of RUB 4.03 billion ($71.1 million), decreasing by 37 percent compared to 2016.
In 2017, ChTPZ's sales revenues increased by 17 percent year on year to RUB 158.25 billion ($2.79 billion), while its gross profit declined by six percent year on year to RUB 37.57 billion ($662.56 million). In the same year, the company’s EBITDA fell by 15.8 percent year on year to RUB 23.63 billion ($416.86 million) and its EBITDA margin declined to 14.9 percent compared to 20.7 percent recorded in the previous year.
In the given year, ChTPZ's pipe sales went up by 14.5 percent year on year to around 2 million mt, due to increased exports and stronger demand for seamless pipes. The company’s pipe exports in the same year totaled 600,000 mt, rising by 123 percent year on year, while its pipe deliveries to the Russian market amounted to 1.4 million mt, down slightly by three percent compared to 2016, due to reduced demand for large diameter (LD) pipes because of the completion of a number of infrastructure projects in Russia.