The international vertically integrated pipe and wheel company Interpipe in January-March of this year increased its net profit 2.6 times compared to the same period last year, to $57.142 million from $21.779 million.

According to the company's interim report on operating and financial results for the first three months of 2023, pre-tax profit was $74.448 million compared to $29.202 million in the first quarter of 2022.

At the same time, Interpipe in January-March 2023 increased free cash and equivalents from $153.777 million as of January 1, 2023 to $207.824 million as of March 31, 2023 (respectively, as of January 1, 2022 it was $109.627 million, as of March 31, 2022 $165.561 million).

EBITDA in Q1 2023 reached $79.427 million, while in Q1 2022 it was $15.139 million.

At the same time, the company reduced its sales revenue by 4% to $229.291 million from $239.185 million.

Interpipe is a Ukrainian industrial company, a manufacturer of seamless pipes and railway wheels. The company's products are supplied to more than 80 countries through a network of sales offices located in key markets of the Middle East, North America and Europe. In 2022, Interpipe sold 384,000 tonnes of pipe products and 87,000 tonnes of railway products. Railway products are sold under the KLW brand.

The ultimate owner of Interpipe Limited is Ukrainian businessman Victor Pinchuk and members of his family.