IFRS net loss of Segezha Group for 9 months of 2020 was RUB 5.5 billion against a profit of RUB 4.2 billion a year earlier, the company reported.
Revenue increased by 14.7% to RUB 50.2 billion from RUB 43.7 billion, OIBDA by 11% to RUB 11.3 billion from RUB 10.2 billion, operating profit by 7.7% to RUB 6.6 billion from RUB 6.1 billion.
Segezha Group is a major Russian vertically-integrated timber processing holding with a complete cycle of timber procurement and advanced wood processing operations. The holding includes timber, wood processing, pulp and paper facilities. The company's representative offices are located in 11 countries of the world, its products are sold in more than 100 countries worldwide. Employing ca. 13,000 people, the company is the biggest forest user in the European part of Russia, the total area of leased certificated forest reserves reaches 7.42 million ha, 85.7% of them (6.36 million ha) certified according to voluntary forest certification schemes.
