ChTPZ, MMK Go Up in Forbes Rating

UrBC, Chelyabinsk, September 20, 2016. ChTPZ Group and Magnitogorsk Iron & Steel Works (MMK) improved their status in the Forbes magazine rating of Russia’s largest privately owned businesses.

MMK moved from the 19th to the 17th position in the rating; the company’s revenues rose by 51.3bn RUR, up to 354.1bn RUR, last year. Its EBIDTA was estimated at 28.6% in 2015, the highest percentage since 2007.

ChTPZ Group is one of Russia’s major pipe manufacturers, responsible for 17.7% of overall sales by the country’s pipe-makers in 2015. Its EBITDA rose by 30% last year, reaching 10.9bn RUR. The Group also made some net profit (compared with 1.2bn RUR in losses a year previously). The company’s debts dropped by 5.3%, and the Group was promoted from the 49th to the 44th position in the Forbes rating.

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