Segezha Group (MOEX: SGZH, a PJSFC Sistema company), a leading vertically integrated holding company in the timber industry performing a full cycle of operations from logging to advanced wood processing, announces its consolidated audited IFRS financial results and operating results for the 12 months of 2021 (FY 2021).

 ·       Revenue totalled RUB 92 bn, a 34% increase year-on-year (yoy), amid a recovery in global demand and higher average selling prices for the Group’s products.

·       OIBDA reached RUB 29 bn, a 68% increase yoy, driven by the company’s integrated business model, revenue growth, and cost optimization by management.

·       The OIBDA margin increased to 32% (+7 pp yoy).

·       Net profit totalled RUB 15 bn, compared to a net loss of RUB 1.3 bn in the previous year, due to high operating efficiency, growth of revenue and business margins, and FX gains.

Rovshan Aliev, Segezha Group’s Vice President for Finance and Investment, said:

 ”Segezha Group’s strong results in 2021 are testament to the consistent implementation of our business strategy and favourable market conditions. We achieved a lot during the year – we successfully completed an IPO, significantly strengthened our position in the Russian market, and made strategically important investments. The company’s revenue grew by 34% year-on-year, OIBDA increased by 68%, and the OIBDA margin strengthened by 7 pp to 32%. As of the end of 2021, Segezha Group’s debt burden stood at a comfortable 2.1ő net debt/OIBDA. We are committed to furthering our progress in this direction, building on our strong results over the past six years.”