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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

9Ì 2022

9Ì 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

3.7õ

Free cash flow

(24,225)

(11,957)

2.0x

Net debt[2]

97,406

95,153

2%

Net debt2/12Ì OIBDA, õ

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 Group’s 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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