Segezha Group IFRS net profit falls by 60% to 6 bln rbl in 2022

MOSCOW, Mar 31 (PRIME) -- The net profit of Russian timber holding company Segezha Group, part of multi-industry holding company Sistema, fell by 60% on the year to 6.052 billion rubles in 2022, as calculated under International Financial Reporting Standards (IFRS), the company said on Friday.

Revenue increased by 15% on the year to 106.766 billion rubles.

Operating income before depreciation and amortization (OIBDA) decreased by 16% to 24.7 billion rubles. The OIBDA margin amounted to 23%.

CEO Mikhail Shamolin said that the company sold its European affiliate Segezha Packaging uniting seven packaging plants in several states.

For further details, see the company’s statement on its official website:

https://segezha-group.com/upload/iblock/775/a1n805rzqhwgwaxklxqd9ptfljhevbp6.pdf

(77.0863 rubles – U.S. $1)

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