In Q4 2021, NLMK Group (LSE: NLMK, MOEX: NLMK) increased sales by 8%
qoq to 4.5 m t as output grew by 16% qoq to 4.5 m t.
Q4 2021 highlights:
increased by 16% qoq to 4.5 m t (+16% yoy) as capacity utilization
at NLMK Lipetsk grew after repair works in the steelmaking
operations oxygen supply infrastructure in August 2021.
Sales grew by 8%
qoq to 4.5 m t (+6% yoy) following output growth. Finished product
sales grew by 12% qoq to 3.1 m t as capacity utilization at NLMK
Lipetsk recovered. Year-on-year, finished product sales grew by 18%
due to higher sales of galvanized and hot-rolled steel (in Q4 2020,
repairs of corresponding equipment were performed). Group sales
growth was slower than output growth as shipments of semi-products
to third parties went down by 26% qoq (-16% yoy), due to higher
intragroup slab shipments (+2.0õ qoq) and lower square billet
supplies amid negative profitability in the context of export
duties (-86% qoq).
Sales in NLMK’s
“home” markets grew by 14% qoq to 3.2 m t (+20% yoy).
12M 2021 highlights:
grew by 10% yoy to 17.4 m t following equipment ramp-up after
upgrades of BF and BOF operations at NLMK Lipetsk and output growth
in the Russia Long Products and NLMK USA segments.
Sales stood at
16.8 m t (-4% yoy) amid recovery of intragroup slab supplies from
NLMK Lipetsk to NLMK USA to 1.3 m t and lower commercial pig iron
sales as steel output grew, which was partially offset by higher
shipments of finished products to third parties.
Sales in NLMK’s
“home” markets grew by 6% yoy to 11.4 m t due to higher
supplies to the US (+27% yoy) and Russian markets (+9% yoy).
went down by 22% yoy to 5.2 m t due to the high baseline of 2020,
when supplies were redistributed to external markets due to weak
demand in Russia and the US amid strict quarantine measures.
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