Russian TMK’s sales revenue surge by 21% in 2011
TMK, the largest steel pipe producer for energy sector in Russia announced that its sales revenue in 2011 amounted to US$6.75 billion, surging by 21% year on year.
Among them, 58% of the total sales revenue was generated by the sales of seamless steel pipes. Also, over 70% of its revenues were from the oil and gas pipe end-users.
In addition, the company posted the gross profits of US$1.45 billion for 2011, rising by 12% in comparison of that in a year earlier, with 74% of the total came from seamless steel pipes.
Meanwhile, the company adjusted EBITDA soared by 11% to US$1.05 billion in 2011 from US$942 million in 2010.
In 2011, TMK sold 4.2 million tons of steel pipes, rising by 6% year on year, boosted by the sales of seamless and welded line pipes.
News Date 19 Mar 2012 14:03:06 reported by Nann Cheng