Пао тмк

— 4Q Revenue up by 17% quarter-on-quarter at RUB 137.4 billion, supported by stable sales volumes and increased selling prices.

ESG / Sustainable development

PAO TMK (“TMK” or “the Group”), a global leader in steel pipe production and one of the world’s leading suppliers of tubular products for the oil and gas and other sectors, today announces its audited consolidated IFRS financial results for the year ended December 31, 2021.

FY Revenue almost doubled compared to FY 2020 and stood at RUB 429.0 billion, due to a gradual recovery of business activity in the Group’s key markets and segments, as well as the contribution of ChelPipe Group’s enterprises to the overall result.

— In December 2021, TMK became a leader in sustainable development among steel companies in the rating of Expert magazine. Within one year, the Company rose from 7 th to 1 st place, as it demonstrated strong performance in environmental, social and economic aspects. In December, TMK was named one of the 104 «golden» employers in Russia by Forbes magazine. In 2021, the Forbes rating was compiled with a focus on the ESG agenda, and the assessment metrics were combined into the three groups: «Environment» (E), «Employees and Society» (S) and «Corporate Governance» (G).

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Financial

— In December 2021, the ACRA rating agency assigned an ESG-rating to TMK for the first time at the level of ESG-5, category ESG-C, which indicated a high assessment rating for environment, social responsibility and governance factors at TMK Group.

Forward-looking statements: The following contains forward-looking statements concerning future events. These statements are based on current information and assumptions of TMK management concerning known and unknown risks and uncertainties.

— 4Q Adjusted EBITDA up by 37% quarter-on-quarter at RUB 22.9 billion. Adjusted EBITDA margin improved by 2.4 p.p. quarter-on-quarter to 16.7%.

— In January 2022, TMK released its Sustainability Policy approved by TMK’s Board of Directors. This is the key public document that defines and formalises the Company’s approach to ESG matters, and confirms TMK’s commitment to the concept of sustainable development.

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FY Adjusted EBITDA up by 47% year-on-year at RUB 62.4 billion, due to the consolidation of the results from ChelPipe Group’s enterprises. At the same time, during the year EBITDA was under the pressure from a noticeable increase in raw material prices.

— In December 2021, PNTZ, part of TMK, launched a project to upgrade air purification equipment at its production sites. Three types of modern gas and dust collecting machines with a filtration coefficient ranging from 85% to 99% were put into operation at three workshops of PNTZ. Fully automated equipment cleans the air from particulate pollutants generated during the production cycle, deposits them on filter walls, places them in sealed receiving bins, and then returns purified air back into a working room. The dust collected is placed at a special site in compliance with environmental regulations.

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— Net debt was at RUB 2 billion as at December 31, 2021.

“TMK delivered a strong performance in 2021, doubling revenue from the previous year and posting a significant increase in EBITDA, due to the improved economic situation in TMK’s key markets, as well as synergies unlocked from the acquisition of the ChelPipe business. That acquisition has become an important step for the implementation of TMK’s long-term strategy aimed at expanding production facilities and sales markets, diversifying its production portfolio, developing R&D and innovative competences, as well as increasing the operational efficiency of our business. During the year, our debt metrics fluctuated as a result of the acquisition of new assets, however, by the end of the year we managed to deliver a decline in leverage and to confirm our commitment to further debt reduction.

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— Net debt / adjusted EBITDA ratio at 3.66x as at December 31, 2021.

Igor Korytko, CEO of TMK, said:

While analysing these financial statements, it is important to note that the audited consolidated income statement of TMK Group includes the financial results of ChelPipe Group’s enterprises acquired as part of the transaction to purchase the shares of PJSC ChelPipe in March 2021, from the date of acquisition to December 31, 2021. The financial indebtedness of TMK Group is therefore presented with the financial indebtedness of ChelPipe Group’s enterprises acquired as part of the transaction.

Major developments in 4Q 2021 and after the reporting period

In 2021, TMK strengthened its focus on the ESG agenda. The competences of the Strategy Committee of the Group’s Board of Directors were expanded to include sustainable development questions, and the Committee itself was renamed the Strategy and Sustainable Development Committee. In late 2021, the Board of Directors approved the Company’s Sustainable Development Policy, which formalises our approaches in this area. We continue to improve our non-financial disclosure and in mid-2022 we plan to release our first sustainability report prepared in accordance with the international reporting standards.

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FY 2021 Highlights

As the spread of COVID-19 continued in 2021, TMK adhered to strict measures to ensure the safety of its employees and supported local communities where it operates. The measures taken helped us to maintain uninterrupted production and to implement our investment programme, which is aimed at developing and modernising the Group’s assets. Investments made during the year enable us to further expand our range of innovative products, which are in high demand from customers, and reduce negative impact on the environment.

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High-tech products and Business development

Group Summary 4Q and FY 2021 Results

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4Q 2021

The current geopolitical situation creates uncertainty for 2022 business forecasts. We closely monitor the market situation, communicate with our customers and suppliers on a regular basis, and try to assess potential risks for our business. TMK Group has a solid market position as a supplier of pipe products and solutions for various industries, a strong financial position, a balanced portfolio of orders and the ability to quickly respond to changes in consumer demand by redirecting its production capacities. We confirm our focus on the Russian market, which accounts for a significant portion of our revenue, as well as our intention to continue to develop high-tech and innovative products to satisfy the needs of our clients.”

— In February 2022, ETERNO, part of TMK, supplied Ural steel plant with a customized heavy engineering line product – roller segments of a continuous casting machine. ETERNO was also first in Russia to master the production of a mobile mixer for liquid iron, which was supplied to the EVRAZ United West Siberian Iron and Steel Works.

— In December 2021, ETERNO, part of TMK, manufactured and supplied to TMK-YMZ, part of TMK, a customized product from a new heavy engineering line – a steel-pouring ladle for steel production. The purchase and modernization of ladles is being carried out to increase the performance of an electric arc furnace (EAF) installed at TMK-YMZ. The replacement of a transformer will increase the EAF performance by 5% and new larger ladles will allow to increase the weight of a cast. TMK is implementing an investment program at TMK-YMZ, which is targeted at modernising, reconstructing and re-equipping the existing production facilities, as well as replacing worn-out equipment and improving the cybersecurity system.

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Group sales volumes

3Q 2021

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Источники:

https://report2020.tmk-group.ru/ru/company-portrait/company-profile&rut=dca00a1913f4fb232ef2013b00ef1124fee9c2c84e18efd6765e605dd205b6ba
https://www.tmk-group.ru/about&rut=89691a7d414f40d9f1b9b07aa4b995c58f3f6583f8c7fc16e95ad47ca2740fc6
https://en.wikipedia.org/wiki/OAO_TMK&rut=d8454795de4087be6c07d1cddaba9f3510a4e077b64c2d7c3e8b2585c458a900
https://report2020.tmk-group.ru/ru&rut=3f4ef930b9c8ae4c436f08f61016377e790e0b4f88f4c82cbdd56e7d05fc8100
https://www.tmk-group.ru/ir&rut=655d605fda7e31f86e0067da6fa82949acc4a89b52b3956944f0b6967cb8b678
https://www.emis.com/php/company-profile/RU/TMK_PAO__%D0%A2%D0%9C%D0%9A_%D0%9F%D0%90%D0%9E__en_2111471.html&rut=dd6b81699b9a8790b03dd0a1fa24b1cf6a2924652edc6bdf9d82a27f6e3f7090
https://www.tmk-group.com/about&rut=3c5fd877b492b6a8df525a7d37c13c67c36ba9b92686dd37ff80cfdd33c274c8
https://www.tmkup.ru/ru&rut=a43bd73f4639d459db2b986708991efd1c7abe558be929646a3d060e18dbd320
https://www.tmk-group.com/PressReleases/4078&rut=09d957b4bf55a2953170d331c9fefef72b1619895a3abb7a2f6b99137abee38c