ChelPipe Group has announced IFRS Financial Results for H1 2016.

According to its press release, the gross profit went up by 2% to 21,94 million rubles, with EBIDTA growing by 2,5 million rubles. The EBITDA margin rose by 5.7% to 24.7% as a result of the improved shipments structure, in particular, increased OCTG share and the company’s improved performance through cutting down its permanent expenditure.

In January-June ChelPipe Group generated a profit amounting to 5,81 million rubles (in H1 2015 profit was 4,21 million rubles) and a positive operating cash flow of 7,61 million rubles (10,28 million rubles). The net profit margin grew up to 8.5%.

In the first half-year 2016, ChelPipe Group reduced its joint debt on loans and borrowings by 6,02 million rubles to 88,08 million rubles (as of December 31, 2015, it was 94,1 million rubles).

The ChelPipe Group’s net debt went down to 79,82 million rubles (as of December 31, 2015, it was 86,06 million rubles). As of June 30, the net debt-to-adjusted EBITDA ratio went down to 2,5х versus 2,9х as of December 31, 2015. (Metalinfo/Ukrainian Metal)

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