Russia: TMK Q4 2018 IFRS EBITDA up

Earnings before interest, taxes, depreciation and amortization (EBITDA) of pipe producer TMK increased by 9% QoQ, to $179 million, while revenue grew by 5%, to $1.264 billion in October-December 2018, as calculated under International Financial Reporting Standards. The gross profit rose by 1%, to $224 million, while the EBITDA margin remained unchanged at 14%, it…

Russia: MMK metal shipments to TMK up in 2018

The meeting of the coordinating council of Magnitogorsk Iron and Steel Works (MMK) and TMK was held in Magnitogorsk. The representatives of both companies reviewed their joint work in 2018 and discussed future collaboration. According to the results of 2018, 504,600 tons of MMK’s flat steel products were shipped to TMK’s pipe mill. This represents…

Russia: MMK Group spending on social programs up in 2018

In 2018, MMK Group’s financial contributions to charitable causes and new social programs increased by 11% YoY, reaching nearly 2.5 billion rubles. MMK allocated over 1.6 billion rubles to charitable and social projects. A key aspect of MMK’s and the group subsidiaries’ social programs is the encouragement of social activities aimed at improving the health…

Russia: Severstal Distribution opens warehouse in Naberezhniye Chelny

A new warehouse of Severstal Distribution has been opened in the city of Naberezhniye Chelny. Its main customers will be the machine-building and construction companies. “Last year Severstal Distribution increased sales in the Privolzhye Federal District, by 25% YoY, to 200 thousand tons. Four subsidiaries were selling metal – in Kazan, Samara, Nizhniy Novgorod and…