Today in Moscow, the Pipe Metallurgical Company (TMK), one of the leading global producers of pipes for the oil and gas industry, held another Investor Day.
The event was attended by TMK CEO Alexander Shiryaev, Deputy CEO for Strategy and Development Vladimir Shmatovich, Marketing Director Sergei Alekseev, Head of TMK European Division Adrian Popescu, managers of the company's financial and investment divisions.
The TMK management informed the representatives of the investment community about the results of the company's activities over the past year, told about the implementation of the Company's Strategy presented in November 2017, and shared plans for TMK's development for the near future. Particular attention was paid to the financial stability of the company and measures to further reduce the net debt /EBITDA ratio.
“2018 was the first year of TMK's new strategy. Throughout the year, the company maintained its position as a leading supplier in the global OCTG market and a dominant supplier of tubular products for the Russian oil and gas industry. We continued to develop relationships with customers by expanding the offer of high-tech products and services, as well as further implementing strategic partnerships with major oil and gas companies in the joint development of breakthrough technologies and services, ”said Alexander Shiryaev.
Last year, TMK demonstrated strong results and achieved further business growth. At the end of 2018, the group's revenue and adjusted EBITDA increased by 16% amid improved performance in all three divisions of the company. In addition, the continued decrease in debt burden contributed to the further strengthening of TMK's financial position. In 2018, the ratio of net debt to EBITDA decreased to 3.48 times, and by the end of 2019 the group intends to reach the target indicator by 3.0 times.
TMK presented the results of the first year of implementation of the Company's Strategy at Investor Day
