TMK net profit reaches $85bn n Q1’13

31 May 2013 (09:15)

May 31, 2013. The revenue of Pipe Metallurgical Company (TMK), one of the world’s leading OCTG manufacturers, amounted to $1,725m in the first quarter of 2013, which exceeded the figures for the last quarter of 2012 by 6%. The increase in revenue has to do with the larger sales volumes and a better sales structure in the weldless pipes segment; currency rate adjustments also resulted in the improvement in the figures. The increase in revenue against the first quarter of 2012 was 4%, and this mainly had to do with better sales of large-diameter pipes and welded line pipes on the Russian market, the company’s report (drawn up in accordance with the International Accounting Standards) says.

The company’s gross profit rose by 11% in comparison with the previous quarter and came to $369m. This mainly has to do with increased weldless pipe sales on the home market. The company’s gross profit, on the other hand, dropped by 10%, primarily because of lowered sales volumes and prices on the American market in the first quarter of 2013.

The return on sales amounted to 21% in Q1’13, which was 20% better than in the previous quarter, yet 25% lower than a year earlier.

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