Interpipe NTRP plant EBITDA jumped 3.9x qoq in 2Q21

EBITDA at Interpipe NTRP, a subsidiary of Ukraine’s
largest pipe and railway wheel producer Interpipe (INTHOL), jumped 3.9x qoq to
USD 5.9 mln in 2Q21, according to the plant’s standalone financial report
published on July 30. The plant’s revenue lost 13.7% qoq to USD 69.6 mln in
2Q21.

The prices for railway wheels, which Interpipe
produces only at its NTRP plant, were 1,285 USD/t in 2Q21, a 4% qoq rise.

Dmytro Khoroshun: NTRP’s
EBITDA for 1H21 is 89% down yoy, and the EBITDA of Interpipe’s railway product
segment will drop substantially yoy, possibly by as much as 40-50%, we expect.

The reasons are the 33% drop in prices during 2020
and the possible loss of up to 15-30% in sales volumes due to Russia’s ban on imports from
Ukraine.