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Segezha Group

December 9, 2022

Segezha Group announces operating and financial results for 9M 2022

Moscow, December 9, 2022 Segezha Group (MOEX: SGZH, a PJSFC Sistema company), a leading vertically integrated holding company in the timber industry performing a full cycle of operations from logging to advanced wood processing, announces its unaudited consolidated financial and operating results for 9M 2022.

          Revenue was up 28% year-on-year (yoy) to RUB 87.4 bn, driven mostly by the consolidation of the assets of the Novoeniseisk Wood-Chemical Complex (NLHK) and Inter Forest Rus (IFR), which became part of the Group in Q3 and Q4 2021, respectively;

         OIBDA totalled RUB 20.3 bn, down 7% yoy on the back of price inflation for a number of production components and a considerable increase in logistics costs;

         OIBDA margin came in at 23%;

         Net profit was RUB 7.0 bn, down 37% yoy following a reduction in operating profit;

         Net debt as of September 30, 2022 totalled RUB 97.4 bn, almost flat vs June 30, 2022;

         CAPEX declined by 30% yoy to RUB 9.0 bn after the investment programme was adjusted to reflect high levels of macroeconomic uncertainty.

Financial performance,

RUB mln

9 2022

9 2021

yoy

Revenue

87,379

68,280

28%

OIBDA

20,268

21,712[1]

(7%)

margin, %

23%

32%

(9 pp)

Net profit

7,024

11,129

(37%)

Capital expenditure

8,997

12,878

(30%)

M&A

18,390

5,040

3.7

Free cash flow

(24,225)

(11,957)

2.0x

Net debt[2]

97,406

95,153

2%

Net debt2/12 OIBDA,

3.5

2.8

-




[1] OIBDA for 9M 2021 was previously recognised in the amount of RUB 23,693 mln, reflecting adjustments for management remuneration expenses for a total of RUB 1,981 mln for a liquidity event, namely the Groups IPO.

CONFERENCE CALL AND WEBCAST

A conference call and webcast to discuss the financial results will take place on December 9, 2022, at 12:00 pm Moscow time (9:00 am London time).

To participate in the webcast, go to https://us06web.zoom.us/webinar/register/WN_-FoNTe9JQW2h6aVLbD314w   

[2] Net debt as of 30 September 2022 and 30 June 2022.

CONTACTS

For investors:

For media:

Elena Romanova

+7 (499) 962-82-00

Ev.romanova@segezha-group.com

Tatiana Gorokhova

+7 (499) 962-82-00

Gorokhova_TN@segezha-group.com






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