In January-March of this year, Interpipe, an international vertically integrated pipe and wheel company (TKC), reduced its capital investments by 46.2% compared to the same period last year, from $13 million to $7 million.
According to the company’s interim report, capital investments in the pipe segment amounted to $3 million during this period, compared to $9 million in Q1 2024.
In addition, investments in the railway products segment during the reporting period also amounted to $3 million ($3 million), and in the steel and other segments – $1 million ($1 million).
It is also noted that as of March 31, 2025, consolidated total debt amounted to $268 million and consisted of $258 million in 2026 bonds and two bank credit lines (denominated in euros) totaling $10 million.
Cash and cash equivalents amounted to $312 million thanks to stable financial results and the gradual redemption of 2026 bonds. Consolidated total net debt was negative at $45 million at the end of March 2025.
The consolidated net leverage ratio (total net debt to EBITDA) as of March 31, 2025, was also negative at -0.2x.
It should be noted that since 2025, the company has reduced the amount of outstanding 2026 bonds to approximately $236 million through a public offering and a series of market buybacks.
Interpipe is a Ukrainian industrial company that manufactures steel pipes and railway products. The company’s products are supplied to more than 50 countries worldwide through a network of sales offices located in key markets in the Middle East, North America, and Europe. In 2024, the company transferred UAH 5.5 billion to budgets of all levels.
The company’s structure includes five industrial assets: Interpipe Nizhnedneprovsky Pipe Rolling Plant (NTZ), Interpipe Novomoskovsky Pipe Plant (NMTZ), Interpipe Niko-Tube, Dnipropetrovsk Vtormet, and the Dniprostal electric steel rolling complex under the Interpipe Steel brand.
The company employs approximately 9,500 people.
The ultimate owner of Interpipe Limited is Ukrainian businessman and philanthropist Viktor Pinchuk and members of his family.
