The international vertically integrated pipe and wheel company Interpipe in January-June of this year reduced its net profit by 33.8% compared to the same period last year – to $19.532 million from $29.431 million.
According to the company’s interim report on operating and financial results for the second quarter and as a whole for the first half of 2022, pretax profit in January-June decreased by 51%, to $24.899 million from $50.766 million for the same period in 2021.
At the same time, operating profit increased by 6%, to $66.567 million from $62.847 million.
Interpipe in the first half of this year received $50.429 million EBITDA, which is 54.7% lower than in the same period last year ($111.209 million). The company’s revenue for this period decreased by 9.9%, to $595.638 million from $661.055 million.
In addition, Interpipe reduced free cash from $206.008 million at the beginning of this year to $156.767 million by the middle of the year.
Interpipe is a Ukrainian industrial company, a manufacturer of seamless pipes and railway wheels. The company’s products are supplied to more than 80 countries through a network of sales offices located in the key markets of the CIS, the Middle East, North America and Europe. In 2021, Interpipe sold 602,000 tonnes of pipe products and 174,000 tonnes of railway products. Railway products are sold under the KLW brand.
