PJSC TMK, the world's leading manufacturer of tubular products for the oil and gas industry, announces interim consolidated financial results under IFRS for the three months ended March 31, 2020. TMK CEO Igor Korytko said: “In Q1 2020, the Group showed a weaker quarter compared to the same period last year. quarterly results for Russian and European divisions, which were negatively impacted mainly by a decrease in sales volumes. The extremely challenging global macroeconomic environment caused by the COVID-19 pandemic and oil price volatility has resulted in weaker customer activity in our core markets and put severe pressure on pipe consumption in key segments. We are seeing a more challenging market situation in the second quarter, which continues to reduce demand for our products, including seamless OCTG pipes. However, we are confident that due to the improved balance
Q1 2020 Highlights
First quarter revenue decreased by 33% year-on-year and 21% year-on-year to RUB 55.3 billion, mainly due to the disposal of the American division.
QI Adjusted EBITDA at RUB8.7bn: a 24% decrease year-on-year. -year, mainly due to the divestiture of the American division, and 22% lower than the previous quarter, due to weaker performance of the Russian and European divisions.
Adjusted EBITDA margin of 16% in Q1 2020 compared to 14% in Q1 2019 and 16% in Q4 2019.
Forecast for the second quarter of 2020. In the second quarter of 2020, TMK expects overall demand for the Group's products to remain under pressure in both Russia and Europe, due to the continuing unfavorable macroeconomic environment caused by the COVID-19 pandemic and volatility in oil prices.
Subscribe to news

Metallurgy news
- Today
11:00 10:00 As part of the Fiztekh 2050 initiative, MIPT, Global University of Rybakov, Technonikol and Askona life Group launch a program for owners and top managers of industry-“Production 2050” 10:00 On the Day of Family, Love and Fidelity, we share a heartfelt video with our colleagues participating in the special project "Kinder than Steel" about the dynasties of metallurgists on July 13. 09:00 Prices for export of energy coal from Russia in the first half of 2025 fell to a minimum since 2020, the share of unprofitable companies reached 63% 08:00 Beenic thought of Belarus declared herself in the Urals 07:00 Nickel overtakes lithium as the most valuable metal for batteries for electric vehicles as prices fall 07:00 The History of Rare earths in China 07:00 Electric vehicles. Worldwide, more than a quarter of sales in 2025, and in China – more than half
Publications
03.07 02.07 How to choose furniture in the hallway: secrets of comfort and amenities at the very beginning of your home 30.06 The choice of summer rubber 01.07 Half -dimensional naivni pidlog: 01.07 Aerated concrete blocks from the company ceramic fest