ChelPipe’s Credit Rating Affirmed at ruA+
20 February 2019 (09:13)
UrBC, Moscow, February 20, 2019. ChelPipe’s credit rating was recently affirmed by Expert RA at ruA+, with Stable rating outlook, the rating agency reports.
Chelyabinsk Pipe Rolling Plant Group (ChelPipe Group) is an industrial group of metallurgical companies and a major pipe manufacturing business. The Group’s key production assets are based in Chelyabinsk (Chelyabinsk Pipe Rolling Plant/ChelPipe), Pervouralsk (Pervorualsk New Pipe Plant/PNTZ), Almetyevsk, and Izhevsk (Rimera). ChelPipe and PNTZ were responsible for some 55% and 35% of the Group’s consolidated profits in 2017, respectively.
The Group shipped 1.1m tons of pipes to customers in the first half of 2018 and 1.92m tons in the twelve months of 2018. 43%, 37%, and 11% of the January-June 2018 revenues came from weld-less pipes, large-diameter pipes, and oilfield service equipment and pipeline appliances, respectively; the rest came from the sales of other pipe types.
The metallurgical raw stuff price dynamic that started in the last quarter of 2018 is expected to keep the company in the black. Expert RA also expects the Group’s EBITDA to rise from 15% in 2017 (the figure for 2016 was 21%) to 17% in the first half of 2018 and further on.
Some of the company’s profits got paid out as dividends; ChelPipe Group doesn’t have a hard-set dividend policy, which is a containing factor, but the actual dividend amount does depend on the debt burden.
Chelyabinsk Pipe Rolling Plant Group (ChelPipe Group) is an industrial group of metallurgical companies and a major pipe manufacturing business. The Group’s key production assets are based in Chelyabinsk (Chelyabinsk Pipe Rolling Plant/ChelPipe), Pervouralsk (Pervorualsk New Pipe Plant/PNTZ), Almetyevsk, and Izhevsk (Rimera). ChelPipe and PNTZ were responsible for some 55% and 35% of the Group’s consolidated profits in 2017, respectively.
The Group shipped 1.1m tons of pipes to customers in the first half of 2018 and 1.92m tons in the twelve months of 2018. 43%, 37%, and 11% of the January-June 2018 revenues came from weld-less pipes, large-diameter pipes, and oilfield service equipment and pipeline appliances, respectively; the rest came from the sales of other pipe types.
The metallurgical raw stuff price dynamic that started in the last quarter of 2018 is expected to keep the company in the black. Expert RA also expects the Group’s EBITDA to rise from 15% in 2017 (the figure for 2016 was 21%) to 17% in the first half of 2018 and further on.
Some of the company’s profits got paid out as dividends; ChelPipe Group doesn’t have a hard-set dividend policy, which is a containing factor, but the actual dividend amount does depend on the debt burden.
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