ChelPipe IFRS net profit down 37.2% to RUB 6.255 billion in 2020

AK&M 18 February 2021 14:56

IFRS net profit of ChelPipe Group for 2020 decreased by 37.2% to RUB 6.26 billion, the company reported.

Revenue from sales of products decreased by 28.2% to RUB 137.98 billion due to a reduction in shipments as a result of the economic downturn amid the spread of coronavirus.

EBITDA decreased by 10.4% to RUB 28.53 billion. EBITDA margin increased by 4.1 p.p. to 20.7%.

Chelpipe Group is a leading industrial group in the Russian metallurgical sector with a highly diversified client portfolio. Chelpipe Group unites enterprises and companies in the ferrous metallurgy segment: Chelyabinsk Pipe-Rolling Plant, Pervouralsk New Pipe Plant, a warehouse complex selling the group's pipe products in regions, META (a company for the procurement and processing of ferrous scrap metal), a number of trunkline equipment producers (SOT, ETERNO, MSA in Czech Republic), as well as an oilfield services business (Rimera Group).