Segezha Group improved financial performance in the II quarter
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Timber holding Segezha Group in the II quarter of 2023 increased revenue by 13% compared to the first quarter of this year to 21.1 billion rubles, and OIBDA (operating income before depreciation) increased by 2.7 times to 2.9 billion rubles This was reported in the company’s financial statements under IFRS, published on August 29.
The increase in revenue was due to an increase in sales volumes, as well as due to the weakening of the ruble, explained in a press release from the group. Segezha Group’s main products are paper, packaging materials, lumber, plywood, fuel pellets and house kits.
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