In its financial results according to international financial reporting standards (IFRS) for the full year of 2015, Russian pipe producer TMK registered a net loss of $368 million compared to a net loss of $216.6 million registered in 2014.
In 2015, the company's sales revenues decreased by 31.3 percent year on year to $4.13 billion, mainly due to a sharp decline of sales in the American division and a negative effect of currency translation.
In the given year, TMK's adjusted EBITDA decreased by 20.8 percent compared to the previous year to $636.3 million, mainly due to weaker results of the American division.
As of December 31 last year, the company's total debt had decreased by $422 million compared to December 31, 2014, to $2.801 billion, partially a result of the ruble’s depreciation against the US dollar.