Page 205 - RusRPTApr23

gas chemicals production rate in 2022 by 9%.
Sibur plans to supply about 500,000 metric tonnes of polymers to each of
China and Turkey, Lyakhovich added. "Five hundred thousand metric tonnes to Turkey, approximately the same quantity to China. This is because we essentially redirect volumes from Europe to these markets," the top manager noted. "Our supplies to Turkey [totaled] 300,000 metric tonnes last year, to China in the last year - slightly above 300,000 metric tonnes," Lyakhovich said at a press conference. Deliveries of polymers to both destinations can grow by about 67% in 2023.
Segezha Group, a Russian timber holding company and part of multi-industry holding company Sistema, has reported a 60% decrease in net profit to RUB6.052bn in 2022 as calculated under International Financial Reporting Standards (IFRS). However, revenue increased by 15% to RUB106.766bn, Prime reported on March 31. Operating income before depreciation and amortization (OIBDA) decreased by 16% to RUB24.7bn. The OIBDA margin amounted to 23%. CEO Mikhail Shamolin said that the company sold its European affiliate Segezha Packaging uniting seven packaging plants in several states.
Segezha Group has sold its assets in Europe due to sanctions restrictions and the inability to support their activities. The company's CEO Mikhail Shamolin said that the financial side of the transaction and information about who the assets were sold to will be disclosed later. According to him, due to sanctions restrictions, it became impossible to supply European enterprises with paper. "On the other hand, they could not buy paper on the European market, because paper manufacturers refused to supply it to them. And customers refused to buy products due to the fact that the owner of European assets is a Russian company," he explained. The company owned the enterprises through its European subsidiary that united seven factories for making paper packaging in Germany, Denmark, Italy, the Netherlands, Romania, Turkey, and the Czech Republic. The enterprises became part of the company in 2014.
205 RUSSIA Country Report Russia April 2023 www.intellinews.com