IFRS net profit of Chelpipe for the first half of 2020 increased by 7.2% to RUB 4.48 billion from RUB 4.179 billion a year earlier, the company reported.
Revenue decreased by 16.3% to RUB 71.844 billion from RUB 85.838 billion, EBITDA by 1.7% to RUB 15.541 billion from RUB 15.811 billion. Operating profit increased by 3.7% to RUB 11.25 billion from RUB 10.853 billion.
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).
PJSC Chelyabinsk Pipe-Rolling Plant (Chelpipe, tax number: 7449006730) manufactures pipes of various grades. Its share in the tubular goods output of the Russian Federation is about 17%. Chelpipe group unites companies and enterprises engaged in the ferrous metallurgy sector: Chelyabinsk Pipe-Rolling Plant, Pervouralsk New Pipe Plant, META scrap metal procurement and processing company, mainline equipment manufacturers SOT, ETERNO, MSA (Czech Republic). The group's oilfield business is being developed by Rimera.
ChelPipe Group's IFRS net profit for 2019 increased by 28.9% to RUB 9.955 billion from RUB 7.726 billion a year earlier. Revenue from sales increased by 7.5% to reach RUB 192.278 billion. Gross profit increased by 22.4% to RUB 54.191 billion. Adjusted EBITDA went up 12.8% to RUB 31.828 billion, EBITDA margin reached 16.6%.
