We calculate financial indicators for the 4th quarter of 2021
Revenue — $3163.3 million (3278*965)
EBITDA — $1250.2 million (3278*381.4)
Profit - $911M (1250-125)*(1-0.19)
Change in NCF - $125 decrease based on 12% of revenue (1643-3163.3*0.12*4)
FCF — $875.2 mln 92% qoq increase (EBITDA-change in PFC-CAPEX-taxes = 1250.2+125-286-214)
Dividend - 5.7 rubles. an...
Against the backdrop of strong fin. indicators of the 3rd quarter
Key factors and catalysts
Annual forward dividend approximate to 40% in H2 2021
Should significantly increase production up to 30%
Cost less than competitors in one sector on P/E and EV/EBITDA multiples
Beneficiary of commodity supercycle 2021
Most likely going to be included in the MSCI...
First step is to predict the volume of sales
Long products — 320 thousand tons
Premium products — 1400 thousand tons
Flat hot-rolled products — 1600 thousand tons
Semi-finished products — 50 thousand tons
Finished products — 3370 thousand tons
Second step is to update the change in product prices
And we leave the weighted average consolidated selling price of...
Implementation of factors that will allow to gain a foothold at 75+ rubles per share in the near future until the end of the year.
Significant decrease in debt burden due to the sale of a stake in Norilsk Nickel and strong financial results in the next six months
Renewal of dividend payments
End of temporary duties from 1st January 2022
Launch of Taishir...
2021 Guidance
-The Company affirms its guidance of total 2021 gold production of 430 - 470koz, comprising own gold production of 370 - 390koz and gold production from 3rd-party concentrate of 60 - 80koz, with H2 2021 to include production from the new Pioneer flotation plant and increased supplies of 3rd-party concentrate
Pokrovskiy Pressure Oxidation (POX) Hub
-A...
