Investor Presentaiton
U.S.$ mln
9M 2013 Adjusted EBITDA by Division
9M 2013 Adjusted EBITDA
9M 2013 Adjusted EBITDA Margin
+3%
600
500
400
20%
17%
17%
16%
15%
16%
12%
000
300
588
571
10%
8%
-51%
8%
200
-51%
4%
100
195
95
21
43
0
Russia
Americas
■ 9m2012
■9m2013
0%
Russia
Americas
Europe
Europe
■ 9m2012
■9m2013
TMK
Russian division Adjusted EBITDA increased, mainly driven by
lower SG&A.
■ American division Adjusted EBITDA decreased primarily due to
significantly weaker pricing of welded and seamless pipe, not
fully offset by lower raw materials prices.
European division Adjusted EBITDA declined as falling average
selling prices of pipe products outpaced falling scrap prices.
Russian division Adjusted EBITDA margin improved largely
due to lower SG&A as a percentage of revenue.
■ American division Adjusted EBITDA margin fell mainly due
to weaker pricing across all product lines.
European division Adjusted EBITDA margin declined due
to low average selling prices.
Source: TMK Consolidated IFRS Financial Statements, TMK data
NNote:
CCertain monetary amountsppercentages and other figures included in this presentation are subject to rounding adjustments. Totals therefore do not always add up to exact arithmetic sums.
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