Segezha shares reached a new historical low – 4.1 rubles – Kommersant
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Shares of the timber industry holding Segezha Group fell today, November 14, to 4.1 rubles. on Moscow Exchange, updating the historical minimum. The previous minimum was set on December 16, 2022, when Segezha stock quotes were at RUB 4.21. As of 16:44 Moscow time, the holding’s shares decreased by 4.91% and were valued at 4.2 rubles.
Yesterday Segezha Group published financial and operating results for the third quarter. According to the report, the holding’s losses under IFRS for the first nine months of 2023 amounted to 10.897 billion rubles. For the same period last year, the holding received a profit of 7.024 billion rubles.
In its reporting for the second quarter, Segezha Group estimated the decline in lumber production in the Russian Federation at the end of the first half of the year at 11%, and the decline in exports at 15%. Determining influence on supplies abroad provided low demand and prices, the closure of certain markets for Russian companies, problems with shipment by rail for sawmills in the North-West, as well as a shortage of raw materials.
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