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 increases rolled metal deliveries to TMK

Magnitogorsk hosted a meeting of the MMK and TMK coordination council.

The parties have discussed the results of the operation in 2018 and plans of further cooperation.

In 2018 TMK pipe enterprises received 504.6 thousand tons of MMK flat rolled metal, up by 10% YoY. (Ukrainian metal)

Russia: TMK pipes sales up in 2018

In 2018 TMK increased steel pipes sales by 6% YoY, to 4.01 million tons.

Seamless pipes accounted for 2.767 million tons, up by 3%.

The sales of welded pipes grew by 11%, to 1.243 million tons. (Ukrainian metal)

Russia: TMK pipes sales up in 2018

In 2018 TMK sold 4.01 million tons of pipes, up by 6%, mostly due to the growth of OCTG seamless pipe sales in Russia. The volume of seamless pipe sales grew by 3%, to 2.767 million tons. The sales of welded pipes increased by 11%, to 1.243 million tons, and of OCTG pipes also by…

Russia: two TMK plants get RZhD preferences

Russian Railways announce another decrease of tariffs for the transportation of ferrous metals and other goods. From January 1 till December 31, 2019 some Ural metal plants will get special tariff conditions. In particular, RZhD is introducing a 47% discount on inner transportation of ferrous rolled metals from the Polevskaya station to the Kamensk-Uralsky station.…

Russia: TMK to supply Gazprom with 21 billion rubles worth of LDP

Gazprom has ordered TMK the delivery of 255.01 thousand tons of large diameter pipes valued at around 21.5 billion rubles.

The purchase documentation says that according to the order of Gazprom, an auction is not necessary when buying goods or services from the sole supplier. (Ukrainian metal)

Russia: TMK supplies casing pipes to Gazprom

The Pipe Metallurgical Company has shipped a batch of corrosion-resistant casing pipes of 13Cr steel with TMK UP PF joints to Gazprom to be used at the Kirinskoye deposits.

The pipes have been successfully lowered to the shafts.

The first deliveries of TMK pipes to the deposits were carried out in 2015. (Ukrainian metal)

Russia: TMK not allowed to buy Technomash

The Federal Antimonopoly Service of Russia has rejected the offer of the Pipe Metallurgical Company to buy 100% of the “Tekhnologii bureniya” Company, owned by Hilong Energy (China). The FAS believes the deal will limit competition on the Russian market of drilling pipes. TMK is the largest manufacturer of drilling pipes in Russia – in…

Russia: TMK to develop innovative pipes for Gazprom

Chairman of Pipe Metallurgical Company Dmitriy Pumpyanskiy and chairman of Gazprom Alexei Miller have signed a roadmap to develop pipe products with integrated registering, processing and commuting components. TMK will produce for Gazprom innovative large diameter pipes with built-in sensors to control pressure, temperature and deformations in real-time mode. The pipes will be specially marked…

Russia: TMK revenue up in H1 2018

In Q2 TMK received $1.355 billion, up by 6% QoQ.

Revenue in H1 grew by 28% YoY, to $2.628 billion.

EBITDA in Q2 increased by 23% QoQ, to $197 million and by 30%, to $357 million in H1.

The company net debt as of June 30 totaled $2.715 billion. (Ukrainian metal)

Russia: TMK pipes sales up in Q2 2018

In April-June TMK sold 1.075 million tons of pipes, up by 10% QoQ. In H1 the combined pipe sales grew by 14% YoY, to 2.056 million tons, mostly because of the sales growth in America. TMK retains its forecast for this year unchanged and expects OCTG pipes demand in Russia to remain on the high…

Russia: TMK to pay 2.355 billion rubles of dividends

Pipe Metal Company has held an annual meeting of the shareholders.

According to the company statement, it was decided to distribute 2017 net profit as dividends of 2.28 rubles per ordinary share for the total amount of 2.355 billion rubles.

Ernst & Young was selected as the company auditor. (Ukrainian metal)

Russia: TMK to continue exporting billets to US

The Pipe Metallurgical Company will continue supplying steel billets to the USA despite the $25 import duty. According to the company deputy CEO on strategy and corporate development Vladimir Shmatovich, TMK is trying to make the US authorities exclude its products from the list of duties. “Still, the price growth on the US market and…

Russia: TMK IFRS EBITDA up in Q1 2018

Earnings before interest, taxes, depreciation and amortization (EBITDA) of the Russian pipe producer TMK increased by 13% YoY, to $160 million in January-March, as calculated under International Financial Reporting Standards (IFRS), the company said in a statement on May 18.

Revenue grew by 35%, to $1.274 billion. (Prime/Ukrainian metal)

Russia: TMK sales up in Q1 2018

In January-March TMK sold 980 thousand tons of pipes, up by 1% QoQ and by 16% YoY. Seamless pipes sales remained almost on the level of the previous quarter, but grew by 3% YoY, to 677 thousand tons. Welded pipes sales increased by 4% QoQ and by 64% YoY, to 303 thousand tons. OCTG pipes…