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
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