April 30, 2014. The net loss of Chelyabinsk Tube Rolling Plant (ChTPZ), calculated in accordance with the IAS, came to 1.868m RUR in 2013 compared with 1.133m RUR in 2012. The plant's revenues reached 112,428m RUR, its EBITDA came to 18.173m RUR, its EBITDA margin reached 16.2%, and its joint debt decreased by 3bn RUR, the company's press service says.

'The company incurred 1.868m RUR worth of losses last year (against 1.133m RUR worth of net profit in 2012) due to the general decrease in profit margin that was typical of the Russian pipe-making sector because of last year's pricing policies. The financial performance was also badly affected by the unfavorable exchange rate, which cost the company 1bn RUR,' the company press release says.

All in all, ChTPZ Group's Chelyabinsk Tube Rolling Plant and Pervouralsk New Pipe Plant delivered 1,688,000,000 kg of steel pipes, which was 3% less than in 2012 (1,744,000,000 kg). This decline in shipments has to do with the dropping demand from the industrial enterprises, which, in its turn, is related to the ongoing downturn in this sector, the company explains.

In 2013, nevertheless, the plant's joint debt was 3bn RUR smaller at the end of the year than on December 31, 2013. ChTPZ Group's lending portfolio comprised two seven-year syndicated loans (totaling to 86.464bn RUR) and a bonded loan worth 8.225bn RUR (circulation period 1 to 3 years) last year. The syndicated loans are secured by a single pool of ChTPZ's pledged assets and by the Russian Federation guarantees (totaling to 43.28bn RUR).