Interpipe Cuts EBITDA By 11% To USD 204 Million, Cuts Revenues By 13% To USD 1 Billion In 2022

In 2022, compared to 2021, the Interpipe pipe and wheel holding reduced its EBITDA (earnings before taxes, interest and depreciation) by 11% to USD 204 million.

This is stated in the company's message, Ukrainian News Agency reports.

Also, in 2022, the company reduced revenue from product sales by 13% to USD 981 million.

At the same time, in 2022, compared to 2021, the company increased its profit 2.2 times to USD 204.4 million.

"In last year's extremely difficult conditions, Interpipe preserved its workforce and industrial assets. Unfortunately, we never managed to return to the pre-war level of production of finished products. At the same time, we expect to slightly improve production results in 2023, including thanks to the extension cancellation of all quotas and duties on Ukrainian goods by the U.S. and the EU. In addition, Interpipe remains a conscientious and reliable partner to its creditors and investors. The company continues to service and repay credit obligations in full since the beginning of the full-scale invasion," said the director general of the company Andrii Korotkov.

As Ukrainian News Agency earlier reported, in 2022, compared to 2021, Interpipe reduced the sale of finished products by 37% to 524,000 tons.

In 2021, compared to 2020, Interpipe reduced EBITDA by 16.3% or USD 44.6 million to USD 228.4 million.

In 2021, compared to 2020, the company reduced its profit 2.1 times or USD 103.8 million to USD 91.3 million, and increased revenue by 31% or USD 267.8 million to USD 1.133 billion.

Interpipe is the largest producer of pipes and wheels in Ukraine, controlling the Nyzhniodniprovskyi Pipe Rolling Plant, the Novomoskovsk Pipe Plant, and the Niko Tube Nikopol Seamless Pipe Plant (all in the Dnipropetrovsk Region).

In October 2012, Interpipe put into operation the steelmaking complex Interpipe Steel.

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