Russian timber business Segezha reports 38% Q3 revenue growth

The revenue of Russian timber products manufacturer Segezha Group showed a year-on-year increase of 38% as of the end of September 2020, according to the company, which is part of Russian conglomerate Sistema.

Segezha had a revenue of 19bn roubles ($256m) for 3Q 2020, which was 38% up on the same period in 2019, the company said in a statement in citing unaudited accounts based on international financial reporting standards.

Its operating income before depreciation and amortisation (OIBDA) for 3Q 2020 was 5.1bn roubles ($68.7m), which was more than twice as high as the amount for the same three months of last year.

For the period from January to September 2020, Segezha had a revenue of 50.2bn roubles ($719m) and an OIBDA of 11.3bn roubles ($161.8m), which marked year-on-year increases of 14.7 and 11% respectively, according to the statement.

Segezha does business in several Western European countries and has solid positions in emerging markets, exporting some of its products to regions including Central and Eastern Europe, the Middle East, Latin America, Southeast Asia and North Africa.