Interpipe in the first half of 2022 reduced net sales by 34% y/y

Revenue from sales of the company's products for January-June 2022 increased by 0.2% year-on-year

In the first half of 2022, the company Interpipe reduced its net revenue by 33.7% compared to the same period in 2021 – to $19.53 million. This is evidenced by the consolidated report, published on the company’s website.

Revenue from sales of the company’s products in January-June 2022 increased by 0.2% y/y – up to $461.44 million. Interpipe’s EBITDA for this period decreased by 54.7% – to $50.4 million.

Interpipe’s capital investments in the six months of 2022 amounted to $9.02 million, which is 71% lower than in 2021. The company’s net debt increased by 4.8 times during this period – to $2.42 million.

As GMK Center reported earlier, in 2021, Interpipe reduced its net sales by 53.2% compared to 2020, to $91.32 million. Capital investments reached $62.7 million (+42.3% y/y), and net debt increased by 96.8% y/y – up to $23.63 million.

In 2021, Interpipe increased production of steel by 28.1% compared to 2020 – up to 971 thousand tons. The output of railway products decreased by 9.7% year-on-year – to 172.1 thousand tons, and pipes output increased by 32.5% – up to 614.8 thousand tons.

Sales of railway products in 2021 decreased by 9.6% compared to 2020 – to 174,000 tons. Pipe sales increased by 28.1% y/y – up to 602.2 thousand tons.

Interpipe is an international vertically integrated pipe and wheel company, one of the top 10 global manufacturers of seamless pipes and one of the top 3 manufacturers of wrought wheels.