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TMK reported the results of I quarter

4 May 2015

During this period, supply TMK customers hit 995 000 tons of steel pipes. This result is lower than 3% APPG. Compared to the 4 th quarter of 2014 rates decreased by 18%. The main factor in the decline in productivity, low levels of steel American division.

Sales of seamless pipes reached 619,000 tons. Indicators below APPG results by 1%. The results of the 4th quarter of 2014 were 11% better than the present.

Decreased and the number of shipped welded pipes — by 5% compared to the 1 st quarter of the previous year, which amounted to 376 000 tonnes. In the last quarter of last year, the result was higher by 28%. The decline observed in the industrial products and OCTG segments. TMK representatives are confident that the profit decline in performance in these sectors will not be affected because the products relates to the low-margin.

Premium threaded connections shipped in 1 st quarter of this year reached 190,000 units. In the 1 st quarter 2014 figure was 193,000 units in 4 th quarter of 2014 — 243 000 shares, which is 22% above the current result.

Oil and gas pipe market of the Russian Federation, despite the economic downturn could maintain stability in the industry. For three months in 2015 the Russian division of shipments reached 724,000 tons. Compared with the APPG growth was 6%. However, the figures are below the results of the last quarter by 14%, but the margin is not generally affected. The segment of industrial welded products considered low-income.

The number of US rigs decreased by 28% compared to the previous quarter, amounting to 1380, due to lower cost of oil. Accordingly, there has been lower demand for OCTG. For the three months American division shipped 230,000 tons, up 23% compared with the APPG. When compared with the previous quarter, productivity fell by 32%.

European Division is experiencing great difficulties, given the high influx of foreign supplies at lower prices. Reducing consumption in the OCTG sector makes the leading manufacturers to focus on the issue of industrial pipes. Nevertheless, in January-March, consumers received 42,000 tons, which is 1% higher than the results of the 1st quarter of 2014. Compared to Q4 performance has improved by 6%.

In the premium segment also experience slow performance. In January-March, Russia and North America produced 190,000 pieces of threaded connections TMK UP. In the 1st quarter 2014 figures were up 1% in the 4th quarter — 22%.

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