Russia’s Chelyabinsk Tube Rolling Plant (ChelPipe) posted a 2010 net profit of 4.7 billion rubles ($165 million) to IFRS, after a 4.4 billion ruble loss in 2009, the company said in a statement on Monday.
Revenue for the year soared 52% to 85.4 billion rubles.
EBITDA rose 260% to 17.6 billion rubles, EBITDA margin edged up to 21% from 9%, the firm said.
Chelpipe’s gross profit rose 64% to 26.3 billion rubles, and pre-tax profit amounted to 6.7 billion rubles.
The company’s net debt stood at 82.4 billion rubles in 2010 compared to 61 billion rubles in 2009.
MOSCOW, April 11 (RIA Novosti)