Segezha Group's top managers change shares in company

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AK&M 28 May 2021 20:19

The top managers of Segezha Group changed their equity stakes in the company on April 28, the company informed.

Mikhail Shamolin (President, Chairman of the Management Board, member of the Board of Directors) increased his stake in the company to 2.3784% from 2.2111%, Ali Uzdenov (Chairman of the Board of Directors) to 0.2479% from 0.1690%.

Board member Vladimir Tuzov acquired 0.0008%, Management Board member Pavel Vakhnin 0.0008%, Management Board member Vladimir Vinogradov 0.0024%, Anna Belova (Deputy Chair of the Board of Directors) 0.0008%, Management Board member Salavat Mirsaev 0.0029%, Management Board member Alexey Stepanov 0.0031%, Management Board member Oksana Tikhonova 0.0001%, Management Board member Yuri Chernitsev 0.0008%. Neither of them had a stake in the company before that.

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. Segezha Group employs 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. IFRS revenue of Segezha Group for 2020 increased by 17.9% to RUB 69 billion from RUB 58.5 billion. OIBDA increased by 24.5% to RUB 17.5 billion from RUB 14 billion, operating profit by 39.7% to RUB 11.2 billion from RUB 8 billion. Net loss amounted to RUB 1.3 billion against a profit of RUB 4.8 billion a year earlier.