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 consolidated audited IFRS financial results
and operating results for the 12 months of 2021 (FY 2021).
·
Revenue totalled RUB 92 bn, a 34% increase year-on-year (yoy), amid a
recovery in global demand and higher average selling prices for the
Group’s products.
· OIBDA
reached RUB 29 bn, a 68% increase yoy, driven by the company’s
integrated business model, revenue growth, and cost optimization by
management.
· The OIBDA
margin increased to 32% (+7 pp yoy).
· Net profit
totalled RUB 15 bn, compared to a net loss of RUB 1.3 bn in the
previous year, due to high operating efficiency, growth of revenue
and business margins, and FX gains.
Financial performance
RUB mln
|
FY 2021
|
FY 2020
|
yoy
|
Revenue
|
92,442
|
68,987
|
34%
|
OIBDA
|
29,252
|
17,459
|
68%
|
margin, %
|
32%
|
25%
|
+7 pp
|
Net profit
|
15,237
|
(1,348)
|
n/a
|
Capital expenditure
|
23,116
|
11,839
|
95%
|
M&A
|
20,186
|
902
|
22õ
|
Free cash flow
|
(30,210)
|
1,993
|
n/a
|
Net debt
|
61,093
|
49,582
|
23%
|
Net debt/FY OIBDA, õ
|
2.1
|
2.8
|
n/a
|
Rovshan Aliev, Segezha Group’s Vice President
for Finance and Investment, said:
”Segezha Group’s strong results in 2021
are testament to the consistent implementation of our business
strategy and favourable market conditions. We achieved a lot during
the year – we successfully completed an IPO, significantly
strengthened our position in the Russian market, and made
strategically important investments. The company’s revenue grew by
34% year-on-year, OIBDA increased by 68%, and the OIBDA margin
strengthened by 7 pp to 32%. As of the end of 2021, Segezha Group’s
debt burden stood at a comfortable 2.1õ net debt/OIBDA. We are
committed to furthering our progress in this direction, building on
our strong results over the past six years.”
|
