WOOD Flash – NLMK: 2Q19 trading update – in line with expectations
NLMK announced its 2Q19 trading update this morning (15 July). Group steel sales fell 7.5% qoq and 2.6% yoy, due to previously announced blast furnace and converter overhauls. The sales mix improved, with finished steel sales down only 3% qoq (due mainly to lower HRC sales) and +0.5% yoy (semi-finished steel sales fell 14.5% qoq and 7.9% yoy) as 2Q is typically a seasonally strong period in the Russian market, where NLMK sells most of its finished products. Overall, the share of high value added products rose 2ppts qoq, to 30%. Aside from some deviation in individual divisional performance, the sales and production numbers were broadly in line with our expectations.
WOOD & Company is the leading investment bank in Emerging Europe. Founded in 1991 and head-quartered in Prague, our footprint spans the region and touches investors around the globe.
A pioneer in Emerging Europe, WOOD executed many of the first CEE equity trades and landmark investment banking transactions. Our electronic trading platform was the first in the region, and remains the best. We are continually expanding our relevance and reach in these ever-evolving markets.
Our equity market share reflects our stature: 7% in Warsaw, 20% in Bucharest, 16% in Hungary, 40% in Prague and 5% in Vienna. Our distribution is unparalleled, with the largest salesforce in the region, servicing a uniquely diverse investor base.
We couple local expertise with a truly international perspective. With offices on the ground in the region, and in key financial hubs such as London and Milano, we are never far from our clients and we remain at the forefront of what’s afoot in the CEE emerging and frontier landscape.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.