ChelPipe Group’s Net Profit Up 30%

25 February 2020 (11:20)

UrBC, Yekaterinburg, February 25, 2020. Chelyabinsk Pipe Rolling Plant (ChelPipe Group) made RUB 9.955bn in net profit last year, which exceeded the figures for the year 2018 by 28.9%, the Group’s press service reports.

The company’s sales revenues went up by 7.5% and thus amounted to RUB 192.278bn. Gross profit rose by 22.4% (up to RUB 54.191bn). Adjusted EBITDA increased by 12.8% and came to RUB 31.828bn.

‘ChelPipe Group’s financial performance improved steadily throughout the year 2019, the primary reasons for this being our adopted strategy for entering export markets and our operational efficiency-boosting program. The Group managed to raise both its EBITDA and EBITDA margin. We expect our vertical integration program in the weld-less pipe segment and our focus on expanding our range of niche, high profit-margin products to result in the Group remaining financially stable,’ says Director-General at ChelPipe Group Boris Kovalenkov.

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