Segezha Group received a loss of 15.98 billion rubles. – Kommersant

The net loss of the timber industry holding Segezha Group according to IFRS for 2023 amounted to 15.98 billion rubles. against 6 billion profit a year earlier. The holding’s OIBDA decreased by 2.5 times – to 9.28 billion rubles, revenue – by 9%, to 88.5 billion rubles. About it it says in the company’s reporting.

According to the results of the last quarter of last year, the net loss amounted to 5.55 billion rubles. against a loss for the same period in 2022 at the level of 1 billion rubles. The OIBDA indicator fell during the quarter in annual terms by 1.9 times – to 2.28 billion rubles. from 4.35 billion rubles. Revenue increased by 45%, to 24.78 billion rubles. against 17.1 billion rubles. a year earlier due to an increase in prices and sales volumes of the company’s finished products.

The company’s debt level in 2023 exceeded 13x in terms of net debt/EBITDA. The president of the timber industry holding, Mikhail Shamolin, said that he plans to carry out additional capitalization this year to reduce the debt burden. A meeting of the board of directors on the issue of dividends will be held in April. The holding’s dividend policy involves annual payments of RUB 3 billion or more. up to 5.5 billion rubles. up to 2023 inclusive, from 2024 to 2026 – 75-100% of adjusted free cash flow.

About the situation in the timber industry – in the material “The forest is hard to straighten”.

Anastasia Larina