Russian steel pipe producer TMK has announced its financial results for the fourth quarter and the full year of 2021.
In the fourth quarter last year, the company’s sales revenues amounted to RUB 137.44 billion ($1.26 billion), up by 17.2 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 36.7 percent compared to the previous quarter to RUB 22.92 billion ($210.79 million), while the company’s adjusted EBITDA margin was at 17.0 percent.
In the full year, TMK’s sales revenues amounted to RUB 428.98 billion ($3.95 billion), up by 92.7 percent year on year, due to a gradual recovery of business activity in the company’s key markets and segments. In the given year, the company’s adjusted EBITDA rose by 46.8 percent year on year to RUB 62.38 billion ($574.54 million), due to the consolidation of the results from ChelPipe Group’s enterprises, while the company’s EBITDA margin was 15 percent compared to 19 percent in 2020.
In the fourth quarter last year, the company’s total sales amounted to 1.25 million mt, up by 8.5 percent compared to the third quarter, while its total sales amounted to 4.26 million mt in 2021, increasing by 51.5 percent year on year.
“The current geopolitical situation creates uncertainty for 2022 business forecasts. We closely monitor the market situation, communicate with our customers and suppliers on a regular basis, and try to assess potential risks for our business,” Igor Korytko, CEO of TMK, said.