Segezha Group's net profit under IFRS in the first half of the year amounted to RUB 7.58 billion

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AK&M 27 August 2021 16:14

Segezha Group's net profit under IFRS in the first half of 2021 amounted to RUB 7.58 billion against a loss of RUB 2.1 billion a year earlier, due to strong operational indicators - revenue growth and business marginality. The dynamics of net profit was also affected by a one-time loss on the revaluation of foreign currency loans last year. This is stated in the company's message.

Revenue increased by 37% to RUB 42.67 billion due to the recovery of global demand and an increase in average selling prices of the group's products. The OIBDA indicator increased by more than 2 times to 13.2 billion rubles. The OIBDA margin was 31%.

Segezha Group 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.