Report
Alexey Kirichok ...
  • Irina Lapshina

НЛМК - EBITDA по МСФО за 4К18 на уровне ожиданий, свободный денежный поток высокий

НЛМК представил финансовые результаты за 4К18. EBITDA за квартал оказалась лишь чуть ниже наших ожиданий и консенсус-оценки, однако свободный денежный поток после уплаты процентов оказался на высоком уровне - $502 млн (при доходности 3,4%), получив поддержку в виде высвобождения оборотного капитала. НЛМК сделает объявление о дивидендных выплатах за 4К18 в конце февраля. Мы ожидаем, что они будут близки к 100% от свободного денежного потока за 4К18. "День инвестора" запланирован на 4 марта.
Underlyings
NLMK (GDR)

Novolipetsk Steel

Novolipetsk Steel is a vertically integrated steel manufacturing and production group based in Russia. Co. specializes in the manufacturing of high-quality hot and cold rolled steel in a variety of grades and sizes. Co. is also engaged in production and sales of flat steel products including slabs, hot rolled and cold rolled sheet, electrical steel, galvanized steel, cold rolled sheet with polymeric coatings. In addition, Co.'s areas of manufacturing include sintering, coke production, blast furnace production, steel-making, hot and cold-rolled flat steel production, galvanized and prepainted steel production. Co. exports its products to 70 countries around the world.

Provider
Sberbank
Sberbank

​Sberbank CIB Investment Research is a research firm offering equity, fixed income, economics, and strategy research. It covers analysis on all aspects of Russia’s capital markets, issues and industries. The firm analyzes trends in Russia and combines local knowledge with a global perspective. It processes macroeconomic data, market and company-specific news, stock quotes and other information for providing research reports. The firm provides details and latest prices on the most traded names and most traded paper on all segments Russian market. In strategy research, it provides thematic research, tips and descriptions of the methodology used to evaluate companies.

Analysts
Alexey Kirichok

Irina Lapshina

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