Adjusted net profit of Segezha Group according to IFRS for the first quarter increased by 63%

AK&M 20 May 2022 15:30

Segezha Group's revenue under IFRS for the first quarter of 2022 increased by 96% to 35.6 billion rubles. compared to 18.22 billion rubles a year earlier. The OIBDA indicator increased 2.3 times to RUB 11.8 billion from RUB 5.03 billion. Adjusted net profit increased by 63% to RUB 3.67 billion from RUB 2.25 billion to RUB 3.9 billion. This is stated in the company's report.

Segezha Group (PJSC Segezha Group of Companies, TIN 9703024202) is one of the largest Russian vertically integrated timber industry holdings with a full cycle of logging and deep processing of wood. The holding includes Russian and European enterprises of the forestry, woodworking and pulp and paper industries. The geography of the group's representative offices covers 11 States. The products are sold in more than 100 countries around the world. SG enterprises employ 13 thousand people. Segezha Group is the largest forest user in the European part of Russia. The total area of the leased forest fund is 7.42 million hectares of forest plots, 85.7% (6.36 million hectares) of which are certified according to voluntary forest certification schemes.

Segezha Group's revenue under IFRS for 2021 increased by 34% to 92.44 billion rubles from 68.99 billion rubles a year earlier. OIBDA increased by 67.6% to 29.25 billion rubles from 17.46 billion rubles, operating profit – by 99.8% to 22.35 billion rubles from 11.18 billion rubles. Net profit in the share of AFK amounted to 12.04 billion rubles against a loss of 1.32 billion rubles.