Segezha Plywood improves EBITDA margin to 30.5 %

10.04.2018 − 

The adjusted EBITDA of the “Plywood and Wood Boards” division of the Russian Segezha Group in 2017 was 72.4% higher than a year earlier at 1.8bn RUB. The business report published by the superordinate Sistema on 3 April shows that Plywood and Wood Boards generated sales revenue of 5.9bn RUB last year, 14.3 % more than a year earlier. As such, the EBITDA margin was roughly ten percentage points higher at 30.5 %. The division succeeded in boosting the volume of birch plywood sales by 3.1 % to 95,000 m³.

Although the “Wood Processing” division generated 15.4 % more sales revenue than a year earlier at 13.4bn RUB, EBITDA fell by 3.2 % to 1.6bn RUB. The EBITDA margin was correspondingly reduced by roughly two percentage points to 11.9 %. The volume of timber sales fell 2.0 % short of the previous year’s figure at 894,000 m³.

The forest enterprises increased the volume of felled logs by 2.9 % last year to 3.9m m³. This enabled to group to cover 62 % of its companies’ needs; 38 % of the required logs had to be purchased from external sources.

Segezha Group as a whole generated sales revenue of 43.7bn RUB; this equates to an increase of 1.6 %. Adjusted EBITDA slumped by almost one fifth to 7.1bn RUB and the EBITDA margin fell by four percentage points to 16.2 %. The adjusted net profit of 100m RUB only amounted to 5 % of the figure for a year earlier.

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