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TMK 1H EBITDA rises by 50.4% to $831.37 mln

The sales of pipe products in the first six months of 2023 totaled 2.111 million tons

MOSCOW, August 28. /TASS/. Russia’s largest pipe manufacturer TMK increased its adjusted EBITDA in the first half of 2023 under the International Financial Reporting Standards (IFRS) by 50.4% year-on-year to 79.2 bln rubles ($831.37 mln), the company said on Monday.

The company’s net profit in the reporting period was 28.3 bln rubles ($297.07 mln). The adjusted EBITDA margin was 28.4%, up from 17.5% the previous year. The company's revenue fell to 278.9 bln rubles ($2.93 bln) in January-June, down from 300.8 bln rubles ($3.15 bln) the previous year. As of June 30, 2023, the company’s total debt was 300.5 bln rubles ($3.15 bln). As of 30 June 2023, the net debt to adjusted EBITDA ratio was 1.61x.

At the same time, sales of pipe products in the first six months of 2023 totaled 2.111 million tons, of which 1.724 mln metric tons were seamless pipes and 386,000 metric tons were welded pipes.

TMK is Russia's largest pipe manufacturer and one of the top three pipe manufacturers in the world.

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Thailand receives invitation to become BRICS partner country — diplomatic source

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Russian naval aircraft hit targets by missiles in drills over Barents Sea

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FSB foils attempted terrorist attack on power station in Nizhny Tagil

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Ukraine admits to mismanagement of military personnel

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Russia says Su-35S fighter jets provide cover to bombers, attack aircraft in Kursk Region

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Ukraine offers up to 750,000 dollars to Russian pilot for hijacking helicopter — TV

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Ukrainian General Staff reports difficult situation along entire frontline

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Houthis say they attacked US aircraft carrier in Arabian Sea

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China puts army on alert in South China Sea

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Russia has written off $20 bln worth of African debts — MFA

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China-Russia relations reach highest level in history, senior official says

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Russian lower house passes third reading of bill banning child-free propaganda

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Dagestani deminer holds stronghold on his own for several weeks

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Russian Security Council secretary meets with senior Chinese official

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More countries understand reasons for conflict in Ukraine didn’t arise overnight — Lavrov

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Medvedev characterizes Great Britain as eternal adversary of Russia

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Houthis attack two US destroyers — Pentagon

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Russian forces steadily advance on Boguslav direction — Belousov

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Medvedev warns that EU behavior in struggle with Russia fraught with 'bad scenario'

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Trump to end NATO’s obsession to get on Russian territory — White House ex-strategist

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Trump appoints Florida Rep. Mike Waltz National Security Advisor

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Russia for the first time displays Su-57 jet at China show

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22 international flights canceled due to Bali volcano eruption

The eruption of Mount Lewotobi began on November 4

Breakthrough near Krasnoarmeysk could enable Russian push toward the Dnieper — expert

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African countries interested in joining work in BRICS format — Russian MFA

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Ukraine’s troops south of Kurakhovo caught in pincers — military sources

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Moldova expresses displeasure about Georgian prime minister’s comments

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Lavrov to lead Russia’s delegation to G20 summit in Brazil

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Units of Russia’s Battlegroup North have continued their offensive, defeating Ukrainian formations near several settlements in the Kursk Region

Trump may be set to change US course on global conflicts, Russian envoy believes

Alexander Lavrentyev also pointed to the potential withdrawal of US troops from Syria

Japan remains ready to sign peace treaty with Russia — top diplomat

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Musk doubles down on his opinion about 'endless war' in Ukraine

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Russia’s Rubikon unmanned technology center team destroys Ukrainian armor in Kursk area

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