ChelPipe Group’s Net Profit Up 2.7 Times

UrBC, Chelyabinsk, August 24, 2018. ChelPipe Group’s net profit (calculated in accordance with the Russian Accounting Standards) came to RUR 5.621bn in the first half of 2018, which exceeded the figures for one year earlier by as much as 168%, the company press service reports.

The company’s revenues amounted to RUR 94.941bn in the first half of the year, up 31% on a year earlier. The Group’s gross profits came to RUR 23.477bn (+36% on a year earlier).

ChelPipe Group’s EBITDA increased to 17.1%. According to the company’s analysts, this was due to improved performance through larger output and sales and marginal revenues.

The company sold 1,085,000,000 kg of pipes in January-June 2018, which was 11% more than the 977,000,000 kg sold one year earlier. The increase mostly had to do with growing LDP sales.

In terms of product type, the Group sold 478,000,000 kg of welded pipes (including 469,000,000 kg of large-diameter pipes) in the first half of 2018, which exceeded the figures for one year earlier (389,000,000 kg and 371,000,000 kg) by 23% and 26%, respectively.

Additionally, the Group also sold 607,000,000 kg of weldless pipes (+3% on a year earlier) and 6,608,000 kg of pipeline fittings (piping assembly, sleeves, branches, etc) (+10%).


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