In its financial results according to IFRS for H1 of the current year, Russian pipemaker TMK increased its net income by 3.85 times compared to H1 2010, to $258 million, as a result of higher gross profit and lower net finance costs. In H1 this year, the company's sales revenues went up by 38 percent year on year reaching $3.547 million, driven mainly by a further improvement in pricing and product mix.
Atjusted EBITDA increased from $415 million in the first six months of last year to $625 million in the first six months of this year. Adjusted EBITDA margin improved from 16 percent in H1 2010 to 18 percent in the first half of this year.