Investor Presentaiton
TMK 9M 2018 vs. 9M 2017 Summary Financial Highlights
Sales were up YoY across all divisions
Revenue increased YoY, driven by improved results at all
three divisions
Thousand tonnes
7% YoY
3,000
2,400
1,800
2,798
2,987
1,200
600
0
9M2017
9M2018
US$ mln
4,000
20% YoY
3,000
2,000
3,835
3,191
1,000
0
9M2017
9M2018
Adjusted EBITDA increased YoY, driven by a stronger
performance at all three divisions. Part of the increase was
offset by a negative currency translation effect at the Russian
division
Net profit decreased YoY, due to a loss on disposal of
subsidiaries recorded in 3Q 2018
17% YoY
600
18%
14%
500
14%
15%
400
12%
սլա $ՏՈ
522
300
9%
444
200
100
0
do do do
6%
3%
0%
9M2017
9M2018
Source: TMK data
EBITDA margin, %
40
40
US$ mln
50
40
54
50
30
20
20
46
-57% YoY
10
20
0
9M2017
9M2018View entire presentation