In Q4 2021, NLMK Group (LSE: NLMK, MOEX: NLMK) increased sales by 8%
qoq to 4.5 m t as output grew by 16% qoq to 4.5 m t.
Q4 2021 highlights:
Steel output
increased by 16% qoq to 4.5 m t (+16% yoy) as capacity utilization
at NLMK Lipetsk grew after repair works in the steelmaking
operations oxygen supply infrastructure in August 2021.
Sales grew by 8%
qoq to 4.5 m t (+6% yoy) following output growth. Finished product
sales grew by 12% qoq to 3.1 m t as capacity utilization at NLMK
Lipetsk recovered. Year-on-year, finished product sales grew by 18%
due to higher sales of galvanized and hot-rolled steel (in Q4 2020,
repairs of corresponding equipment were performed). Group sales
growth was slower than output growth as shipments of semi-products
to third parties went down by 26% qoq (-16% yoy), due to higher
intragroup slab shipments (+2.0õ qoq) and lower square billet
supplies amid negative profitability in the context of export
duties (-86% qoq).
Sales in NLMK’s
“home” markets grew by 14% qoq to 3.2 m t (+20% yoy).
12M 2021 highlights:
Steel output
grew by 10% yoy to 17.4 m t following equipment ramp-up after
upgrades of BF and BOF operations at NLMK Lipetsk and output growth
in the Russia Long Products and NLMK USA segments.
Sales stood at
16.8 m t (-4% yoy) amid recovery of intragroup slab supplies from
NLMK Lipetsk to NLMK USA to 1.3 m t and lower commercial pig iron
sales as steel output grew, which was partially offset by higher
shipments of finished products to third parties.
Sales in NLMK’s
“home” markets grew by 6% yoy to 11.4 m t due to higher
supplies to the US (+27% yoy) and Russian markets (+9% yoy).
Export sales
went down by 22% yoy to 5.2 m t due to the high baseline of 2020,
when supplies were redistributed to external markets due to weak
demand in Russia and the US amid strict quarantine measures.
Additional
Materials
Press
release https://nlmk.com/download_file.php?FILE_ID=139790&ELEMENT_ID=111685&NAME=Q4+and+12M+2021+NLMK+Group+Trading+Update&PAGE_URL=%2Fen%2Fmedia-center%2Fpress-releases%2Fq4-and-12m-2021-nlmk-group-trading-update%2F
Databook
https://nlmk.com/download_file.php?FILE_ID=139791&ELEMENT_ID=111685&NAME=Q4+and+12M+2021+NLMK+Group+Trading+Update&PAGE_URL=%2Fen%2Fmedia-center%2Fpress-releases%2Fq4-and-12m-2021-nlmk-group-trading-update%2F
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