in January-September 2022, the international vertically integrated steel and pipe company Interpipe cut its capital investments by three times as against the similar period of the last year – to $15 mn from $45 mn.
According to a presentation of the company’s operations for the nine months of last year, capital investments in the period under review amounted to $7mn ($6mn in 9M2021), $8mn in steelmaking and $31mn in pipe production, while there were no investments in railroad operations ($8mn).
We would like to note that the figures for 9M-2022 are unaudited.
As we informed, in January-September 2022, Interpipe earned $185.952 mln, while during the same period last year it amounted to $32.338 mln (5.75 times more). The company made $199.975 mln of profit after tax, compared to $56.505 mln for the first nine months of 2021 (a 3.5 times increase). At the same time, revenues decreased by 9.3% to $686.634 mln. The company increased its free cash flow to $126.476 mln as of September 30, 2022, from $103.007 mln at the end of September 2021.
EBITDA at the end of September 2022 was $123.023 million ($51.508 million for the pipe segment, “minus” $3.287 million for the rail segment, $74.222 million for the steel segment, $580 thousand for other operations), compared to $150.876 million (“minus” $36.040 million, “plus” $15.351 million, $169.483 million and $2.082 million respectively at the end of 2021).
“Interpipe is a Ukrainian industrial company producing seamless pipes and railroad wheels. The company supplies its products to over 80 countries all over the world via a network of commercial offices located in the key markets of the CIS, the Middle East, North America, and Europe. In 2021, the company sold 602 thnd mt of tubes and 174 thnd mt of railroad products. The company sells its railroad products under the KLW brand.
There are about 10 thsd. employees in Interpipe.
The company consists of five industrial assets: “Interpipe Nizhnedneprovsky Tube Rolling Plant (NTZ)”, “Interpipe Novomoskovsk Tube Plant (NMTZ)”, “Interpipe Niko Tube”, “Interpipe Vtormet” and the electric steelmaking complex “Dneprosteel” under the brand name “Interpipe Steel”.
The ultimate owner of Interpipe Limited is Ukrainian businessman Viktor Pinchuk and his family members.
