Interpipe increased its profit by 5.1% y/y in H1 2024

In January-June 2024, Ukrainian industrial company Interpipe increased its net profit by 5.1% compared to the same period in 2023 to $128.74 million. This is evidenced by the consolidated financial statements published on the company’s website.

Revenue from sales of the company’s products in January-June 2024 increased by 3.3% y/y – to $535.77 million. Interpipe’s EBITDA for the period decreased by 26.7% y/y – to $130.27 million.

In the first half of 2024, Interpipe’s capital investments amounted to $23.19 million, up 2.7 times compared to January-June 2023. The company’s net debt for the period increased to +$8.06 million compared to -$7.88 million a year earlier.

During the first half of the year, Interpipe increased its tax payments to the budgets of all levels of Ukraine and off-budget funds by 37% compared to the same period in 2023, to UAH 2.4 billion.

In 2023, Interpipe increased its net profit by 23.7% compared to 2022 to $252.89 million. The company’s revenue amounted to $988.71 million, up 0.8% y/y. EBITDA increased by 65.2% y/y – to $336.75 million.

As GMK Center reported earlier, Ukrtruboprom’s enterprises increased pipe production by 10.2% in 2023 compared to 2022, up to 495.6 thousand tons. In particular, Interpipe Nico Tube increased its output by 13.3% y/y, while Interpipe NMTZ decreased by 53.8%.

In 2023, exports of pipe products decreased by 11% compared to 2022, to 356.3 thousand tons. Revenues from pipe exports decreased by 15% y/y – to $587.1 million. The main consumers of Ukrainian pipes were Germany, the US, Romania and Poland.

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