Ukrainian producer of steel pipes & railway products Interpipe announced that its steel output declined by 16% YoY to 163 KT in January March 2022 quarter, pipes production went down by 12% YoY to 97 KT & railway products production shrank by 43% YoY to 23 KT. Interpipe’s overall sales also declined by 10% YoY to 140 KT but revenue grew by 19% YoY to USD 239 million & EBITDA contracted by 63% YoY to USD 15 million. Interpipe CEO Mr Andriy Korotkov said “At the end of March Interpipe carefully restarted shipments of our products, in April we gradually renewed production facilities. In May, the EAF complex Interpipe Steel started operating, and the Company began gradually ramping up production and shipments of finished products. However, unfortunately, Interpipe is currently unable to return to the pre-war production levels as the war has broken usual supply chains as Ukraine's Black Sea seaports are blocked, the country has full-scale motor fuel shortage, and transport infrastructure is constantly being destroyed by missile strikes. New supply and logistics chains are in the process of rebuilding and formation.”Interpipe said “During the first 2 months 2022 Interpipe enjoyed a generally favorable global market environment. However, after the Russian invasion of Ukraine on 24 February the Company's management decided to suspend production fully. The main task was to ensure the safety of employees and preservation of our assets and business continuity. This resulted in contraction of the overall pipe production by 12% YoY and railway product production by 43% YoY in Q1 of 2022.”Interpipe also said “Since the beginning of the full-scale war Interpipe has been steadily paying salaries to all employees, including idled ones. Moreover, the Company together with Mr Victor Pinchuk & Ms Olena Pinchuk Foundation, provided a large-scale assistance to Ukrainian Armed Forces, medics, and civilians, channeling more than USD 35 million for humanitarian aid efforts during the 126 days of the war. In addition to the assistance at the national and regional levels, Interpipe helps employees mobilized to the Armed Forces of Ukraine.”Interpipe is global producer of steel pipes and railway products based in Ukraine. The company’s products are marketed in more than 80 countries all around the world via the network of sales offices located in key markets of Ukraine, Europe, North America and the Middle East. In 2021, Interpipe supplied 602 KT of pipes and 174 T of railway products.
Ukrainian producer of steel pipes & railway products Interpipe announced that its steel output declined by 16% YoY to 163 KT in January March 2022 quarter, pipes production went down by 12% YoY to 97 KT & railway products production shrank by 43% YoY to 23 KT. Interpipe’s overall sales also declined by 10% YoY to 140 KT but revenue grew by 19% YoY to USD 239 million & EBITDA contracted by 63% YoY to USD 15 million. Interpipe CEO Mr Andriy Korotkov said “At the end of March Interpipe carefully restarted shipments of our products, in April we gradually renewed production facilities. In May, the EAF complex Interpipe Steel started operating, and the Company began gradually ramping up production and shipments of finished products. However, unfortunately, Interpipe is currently unable to return to the pre-war production levels as the war has broken usual supply chains as Ukraine's Black Sea seaports are blocked, the country has full-scale motor fuel shortage, and transport infrastructure is constantly being destroyed by missile strikes. New supply and logistics chains are in the process of rebuilding and formation.”Interpipe said “During the first 2 months 2022 Interpipe enjoyed a generally favorable global market environment. However, after the Russian invasion of Ukraine on 24 February the Company's management decided to suspend production fully. The main task was to ensure the safety of employees and preservation of our assets and business continuity. This resulted in contraction of the overall pipe production by 12% YoY and railway product production by 43% YoY in Q1 of 2022.”Interpipe also said “Since the beginning of the full-scale war Interpipe has been steadily paying salaries to all employees, including idled ones. Moreover, the Company together with Mr Victor Pinchuk & Ms Olena Pinchuk Foundation, provided a large-scale assistance to Ukrainian Armed Forces, medics, and civilians, channeling more than USD 35 million for humanitarian aid efforts during the 126 days of the war. In addition to the assistance at the national and regional levels, Interpipe helps employees mobilized to the Armed Forces of Ukraine.”Interpipe is global producer of steel pipes and railway products based in Ukraine. The company’s products are marketed in more than 80 countries all around the world via the network of sales offices located in key markets of Ukraine, Europe, North America and the Middle East. In 2021, Interpipe supplied 602 KT of pipes and 174 T of railway products.
