TMK Makes First Shipment of Vacuum Insulated Tubing to Gazprom
TMK Announces Fourth Quarter and Full-Year 2011 Production Results and Trading Update
Key Consolidated Financial Highlights
Year ended 31 December
2009
2008
2007
2006
2005
2004
2003
Net Sales, US$ mln
3,461
5,690
4,178
3,402
2,952
1,984
1,369
Sales Growth, % (1)
(39.2%)
36.2%
22.8%
15.2%
48.8%
45.0%
n/a
Gross Profit, US$ mln
556
1,438
1,288
1,048
756
387
152
Gross Profit Margin, % (2)
16%
25%
31%
26 %
20 %
11 %
Adjusted EBITDA, US$ mln (3)
328
1,047
908
787
548
321
72
Adjusted EBITDA Margin, % (2)
10%
18%
22%
24 %
19 %
16 %
5 %
Key Financial Highlights by Segments
Russia
Americas*
Europe
Volumes – Pipes, kt
2,296
2,574
358
488
115
165
2,639
4,195
655
1,203
167
292
Gross Profit (Loss), US$ mln
538
1,032
-13
346
31
60
Margin (%)
20.4%
24.6%
neg
28.8%
18.6%
20.6%
Adjusted EBITDA, US$ mln
326
677
-5
349
7
21
12.4%
16.1%
29.0%
4.2%
7.2%
Average Net Sales / Tonne (US$)
1,149
1,63
1,83
2,465
1,452
1,77
Average Gross Profit / Tonne (US$)
234
401
709
270
364
Average Adjusted EBITDA / Tonne (US$)
142
263
715
61
127
* Sales volumes for 2008 are for the period from the date of TMK IPSCO acquisition in June 12, 2008 to December 31, 2008
(1) Sales growth % represents Y-o-Y percentage change.
(2) Margins are calculated as a percentage of net sales.
(3) Adjusted EBITDA is a non-IFRS measure, EBITDA represents profit before interest (financing cost and financing income), taxes, depreciation and amortization.
