Interpipe increased pipe sales by 35.4% y/y in H1 2024

Sales of railway products increased by 28.9% y/y

In January-June 2024, Ukrainian industrial company Interpipe increased sales of tubular products by 35.4% compared to the same period in 2023, to 264 thousand tons. This is stated in the company’s report.

The bulk of the pipes were shipped to Europe – 112 thousand tons (+37.4% y/y), and USA – 38 thousand tons (+45.4% y/y). 45 thousand tons of pipes were shipped to the domestic market, which is 2.2% less compared to January-June 2023.

Sales of railway products in the first half of the year increased by 28.9% y/y – to 58 thousand tons. The company sold 40 thousand tons (+37.9% y/y) to the European market and 9 thousand tons (-10% y/y) – to the Ukrainian market.

In the second quarter, the company increased sales of pipes by 16.4% quarter-on-quarter – to 142 thousand tons, and railway products – by 19.2% q/q, to 31 thousand tons.

Steel production in January-June 2024 increased by 24.4% compared to the same period in 2023 to 428 thousand tons. Pipe production increased by 23.4% y/y – to 258 thousand tons. The largest share was accounted for by line pipes – 180 thousand tons (+34.4% y/y), and OCTG pipes – 68 thousand tons (+7.9% y/y). Production of railway products increased by 19.1% y/y – to 56 thousand tons, including 42 thousand tons of railway wheels (+20% y/y).

In the second quarter, Interpipe produced 246 thousand tons of steel (+35.2% q/q), 140 thousand tons of pipes (+18.6% q/q), and 29 thousand tons of railway products (+3.6% q/q). Steel production increased by 35.2% q/q – to 246 thousand tons.

As GMK Center reported earlier, in the first half of 2024, Interpipe increased its net profit by 5.1% compared to the same period in 2023 – to $128.74 million. Revenue from sales increased by 3.3% y/y – to $535.77 million. EBITDA decreased by 26.7% y/y – to $130.27 million.

Interpipe is an international vertically integrated pipe and wheel company that ranks among the world’s top 10 seamless pipe producers and top 3 producers of all-rolled railway wheels.