Segezha Group announces its unaudited consolidated financial and operating results for Q2 2023

Revenue was up 13% QoQ to RUB 21.1 billion, driven by the increased sales volumes of the Group’s finished products. The weakening of the rouble against major foreign currencies also had a positive impact. OIBDA increased 2.7 times QoQ to RUB 2.9 billion, following revenue growth for the period and a decrease in commercial and administrative expenses. OIBDA margin came in at 14% (+8 p.p. QoQ). Net loss grew by 3% QoQ, reaching RUB 3.9 billion. As of 30 June, 2023, debt remained virtually unchanged compared to 31 March, 2023, at RUB 123.5 billion. Net debt stood at RUB 114.0 billion. CAPEX fell by 2% QoQ, to RUB 1.6 billion.

In 1H 2023, Segezha Group’s revenue decreased by 31% YoY to RUB 39.8 billion; OIBDA decreased by 76% YoY to RUB 4.0 billion; net loss was RUB 7.7 billion.