TMK Keeps Sales Figures at Last Year’s Level

28 November 2012 (09:38)

November 28, 2012. Pipe Metallurgical Company (TMK) kept its pipe sales output at nearly the same level as in 2011: the figures came to 3,156,000 tons. The sales of weldless pipes rose by 6% against a year earlier and reached 1,876,000 tons. The OCTG sales increased by 16% on the previous year due to Russia’s growing oil and natural gas production output, the company’s press service reports.

The volume of welded pipe sales declined by 9% in comparison with a year earlier and reached 1,280,000 tons. At the same time, the OCTG and line pipe sales increased by 9% and 23%, respectively, while the LDP sales dropped because a number of domestic pipeline construction projects have been postponed to a later date.

As for the company’s basic financial performance indicators, TMK’s revenues decreased by 2% on the previous year and came to $5,056m, which stems mainly from the currency conversion. The sales of weldless pipes (the company’s key product) amounted to 62% of TMK’s total revenues.

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