In November, the total sales of pipe products in Interpipe decreased by 6.8%, having rolled back approximately to the level of the previous year. In annual terms, the rate of decline in sales for 11 months of 2020 compared to 10 months of 2020 remained unchanged - minus 21.7% and minus 22.0%, respectively, in annual comparison. In total, in January-November 2020, Interpipe sold 425.8 thousand tons of pipe metal products.
Viktor Pinchuk's company managed to offset losses from the rise in hot rolled steel prices, which rose, according to its estimates, by $ 118 per tonne, by increasing pipe sales to European customers, who faced an abnormal shortage and an equally unusual price increase.
Earlier it was reported that the company's pre-tax profit for 9 months of 2010 according to IFRS amounted to $ 178.13 million against a pre-tax loss of $ 40.6 million in the same period in 2019. Net profit of Interpipe in January-September amounted to $ 162.46 million against a loss in the same period last year of $ 60.71 million.
Interpipe is a Ukrainian industrial company, manufacturer of seamless pipes and railway wheels. The company's products are supplied to more than 80 countries of the world through a network of sales offices located in key markets of the CIS, the Middle East, North America and Europe. In 2019, Interpipe sold 823 thousand tons of finished products, including 202 thousand tons of railway products. Railway products are sold under the KLW brand.
The company has five industrial assets: "Interpipe Nizhnedneprovsky Pipe-Rolling Plant (NTZ) ", "Interpipe Novomoskovsk Pipe Plant (NMPP) ", "Interpipe Niko-Tube ", "Dnepropetrovsk Vtormet " and electric steelmaking complex "Dneprostal " under the brand "Interpipe Steel ".
The ultimate owner of Interpipe Limited is Ukrainian businessman Victor Pinchuk and his family members.