Russian steel pipe producer TMK has announced its financial results for the first half of this year.
In the first half of the current year, the company’s sales revenues amounted to RUB 300.84 billion ($4.98 billion), increasing by 72.6 percent compared to the previous year. In the given period, TMK’s gross profit rose by 101.8 percent year on year to RUB 68.89 billion ($1.14 billion).
Meanwhile, in the first six months of this year, the company’s adjusted EBITDA amounted to RUB 52.64 billion ($875.05 million), up by 131.9 percent from the same period of 2021.
TMK pointed out in its statement that, due to Western sanctions, the impact of the current economic situation on the future performance and financial position of the company is impossible to predict, adding that they are taking all the necessary measures to maintain the economic stability of the company and to adapt to the new business environment.