TMK’s revenues rise 3% in Q’II 2014

27 August 2014 (10:26)

August 27, 2014. The revenues of Pipe Metallurgical Company (TMK) rose by 3% in the second quarter of 2014 compared with the previous quarter and came to $1,516m, the company report states.

Its EBITDA increased by 3% in Q’II 2014 compared with the first quarter and amounted to $190m. The EBITDA margin remained the same as in the first quarter of the year, that is, 13%.

TMK’s nest profit reached $60m. At the same time, the company had $16m worth of net loss in the first quarter of 2014. In the second quarter of the year, the company made $32m worth of profit through exchange rate fluctuations (compared with $63m loss in the preceding quarter).

As of June 30, 2014, the company’s accumulated debt increased by $160m compared with March 31, 2014 and stood at $3,753m. This increase is partially related to the ruble growing stronger against the dollar. The company’s net debt went up by $105m against March 31, 2014 and stood at $3,631m on June 30, 2014.

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