Page 55 - UKRRptAug21

Ukraine's share of Interpipe’s pipe sales in 1H21 dropped to 17%, or 5pp less than in 2020. At the same time, the share of sales in the Americas rose 4pp to 15%, MENA's share added 2pp to 26%, and the share of CIS countries was flat at 11%. Europe's share in pipe sales dropped 1pp to 28%.
The share of Interpipe’s railway product sales in Ukraine in 1H21 dropped 5pp from 2020 to 9%, while the share of sales to Europe retreated 3pp to 32%. At the same time, the share of sales to CIS countries rose 2pp to 45%, and the share of sales in the Americas added 3pp to 6%.
Regarding production volumes, which might be indicative of sales volumes in the coming months, Interpipe’s pipe production added 11.3% m/m to 57.1 kt in June, while railway product output rose 8.9% m/m to 14.2 kt. Steel production gained 5.9% m/m in June to 90.5 kt.
● DTEK
Ukraine’s leading coal and power holding DTEK Energy (DTEKUA) produced 8.40 mmt of ROM coal in 1H21, Concorde Capital calculated based on sector-wide data provided by Energy Ministry. This is a 3.7% decline y/y but 17% above the ministry’s plan. On a like-to-like basis (adjusting for the mine that DTEK discontinued operating), the holding’s mining increased 5.3% y/y in 1H21. Recall, in January, DTEK Energy terminated a long-term lease agreement regarding Dobropillia Coal and transferred all its assets under government control. In June alone, DTEK Energy mined 1.43 mmt of coal, which is 1.2% less y/y (and 1.2% less y/y on a like-to-like basis), but 16.9% more than in May (on a daily average basis). Total ROM coal output in Ukraine increased 16.5% y/y in 1H21 to 15.33 mmt. State mines surged their output by 133% y/y to 3.10 mmt.
55 UKRAINE Country Report August 2021 www.intellinews.com