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11 March 2019

SIA Severstal Distribution is inside the Top 10 of the most valuable enterprises of Latvia

According to the independent experts’ evaluation, the value of SIA Severstal Distribution increased by 70% in 2018 compared to 2017 to exceed 370 million euros. Thus, the enterprise was ranked 9th in the top list of the most valuable companies of Latvia drawn up by Lursoft.

In 2018, SIA Severstal Distribution sales volume increased by 60% compared to the previous year and exceeded 1 million t of steel products. The turnover of the enterprise grew by 73% last year vs 2017 and attained USD 800 million / EUR 700 million (according to unaudited data).

«Outstripping growth of financial indicators was achieved due to both price increase in the European market by 4% in 2018 compared to 2017, and the increase of the share of higher value added products in the company’s sales portfolio. Thus, last year we increased the sales volume of processed products and doubled the volume of rolled products with zinc coating», the Head of Severstal Russian Steel Division distribution network Timur Yudichev said.

Last year, SIA Severstal Distribution service steel center located in Riga achieved a record production volume: 230 thousand t of finished products were released: sheets, skelps and welded pipes. At the same time, a new type of products was mastered: steel pipe suitable for water and gas which had earlier been manufactured in the company’s facility in Poland.

SIA Severstal Distribution supplies steel products manufactured by PAO Severstal enterprises to the markets of the Baltic states, Finland, Sweden, Germany, Poland, Czech Republic and Slovakia. In order to ensure the servicing of steel products delivery to the customers in Europe, including for small batch shipments, and for performing deliveries in accordance with customer schedule, the company uses its own hub in Riga and a network of warehousing sites in Latvia, Estonia, Finland and Poland.

The top list of the most valuable enterprises of Latvia has been drawn up by an independent company Lursoft in collaboration with SE Capitalia based on financial data of the enterprises and taking into account the historical data of the enterprises’ and their respective industries’ turnover as well as the business growth dynamics and profitability index. In the assessment, no enterprise future development forecasts or any other specific factors which could have an impact on the market value of the enterprises are taken into account. The top list published at the beginning of 2019 was drawn up on the basis of financial statements of Latvian enterprises for 2017.

*Value dynamics SDE (К = as per consolidated statements LV+PL):

Year of value Type Value
2018 К 371 122 800 EUR
2017 К 219 616 500 EUR
2016 К 74 072 900 EUR
2015 К 44 585 700 EUR
2014 К 54 187 300 EUR
2013 К 41 823 100 EUR