TMK’s sales revenues up 79% in Jan-Sept, higher EBITDA expected for 2021

Friday, 03 December 2021 11:17:02 (GMT+3)   |   Istanbul
       

Russian steel pipe producer TMK has announced its financial results for the third quarter and first nine months of this year.

In the third quarter this year, the company’s sales revenues amounted to RUB 117.3 billion ($1.59 billion), up by seven percent compared to the previous quarter, supported by stable sales volumes and increased selling prices. In the given quarter TMK’s adjusted EBITDA rose by 19 percent compared to the previous quarter to RUB 16.8 billion ($227.92 million), while the company’s adjusted EBITDA margin was up 1.4 percentage points quarter on quarter at 14.3 percent.

In the first nine months this year, TMK’s sales revenues amounted to RUB 291.5 billion ($3.95 billion), up by 79 percent year on year, due to a gradual recovery of business activity in the company’s key markets and segments. In the given half, the company’s adjusted EBITDA rose by 13 percent year on year to RUB 39.5 billion ($535.90 million), due to the consolidation of the results from ChelPipe Group’s enterprises, which offset a noticeable increase in raw material prices in the first nine months this year, while the company’s EBITDA margin was 17 percent compared to 21 percent in the January-September period last year.

In the third quarter this year, the company’s total sales amounted to 1.15 million mt, stable compared to the second quarter, while its total sales amounted to 3.01 million mt in the first nine months, increasing by 45 percent year on year.

TMK said it expects demand in its key market segments in Russia - seamless OCTG and industrial pipes - to remain stable until the end of the year. The company anticipates the consumption of industrial pipes in the European market to increase further amid the ongoing economic recovery. TMK expects its EBITDA for the financial year 2021 to increase significantly, supported by the gradual recovery of business activity in the company’s key markets and segments as well as the consolidation of the results from ChelPipe Group’s enterprises. It also anticipates its EBITDA margin will improve further in the fourth quarter this year.


Similar articles

Russia’s TMK reports lower net profit and revenues in 2023

01 Mar | Steel News

Russia’s TMK reports record rises in revenues and EBITDA in H1

31 Aug | Steel News

TMK’s sales revenues up 92.7% in 2021, war creates uncertainty for 2022 forecast

16 Mar | Steel News

TMK’s sales revenues up 56% in H1 amid gradual recovery in key markets

26 Aug | Steel News

TMK’s sales revenues up nine percent in Q1 from Q4

10 Jun | Steel News

TMK sees lower revenues, expects stable pipe consumption for 2019

21 Nov | Steel News

TMK’s sales revenues rise by 16 percent in 2018

07 Mar | Steel News

TMK’s steel pipe shipments up six percent in 2018

22 Jan | Steel News

TMK’s sales revenues rise in the first nine months of 2018

19 Nov | Steel News

TMK records increase in net profit in H1

16 Aug | Steel News