Segezha Group completed the additional ministry for 113 billion rubles
The largest scorer of the Russian forest -industrial complex Segezha Group completed the placement of additional shares. The group attracted 113 billion rubles from the key shareholder of the AFK System, a number of creditors-creditors and external investors. Instead of the planned 101 billion rubles, which will go to pay off loans. This will allow Segezha Group to reduce the debt three times, to 60 billion rubles. Experts consider the preservation of the company’s performance a good sign for the industry, noting that the further indicators of the group will depend on the situation in the export markets.
The forest industry holding Segezha Group attracted 113 billion rubles. During an additional issue of shares approved by the board of directors in November 2024 (See “Kommersant” of November 21, 2024). Papers were sold according to a closed subscription of 1.8 rubles. apiece up to 62.76 billion shares. Prior to the additional ministry, the authorized capital of Segezha consisted of 15.69 billion shares. AFK « System » belonged to 62.2%, 4%-top managers, 24.25% of the papers were in free circulation.
“The additional ministry has been completed in full – all shares provided by the decision -making decision are successfully placed among investors,” said Segezha Group. The borrowed money, added there, will completely go to pay off the group loans and accumulated interest. The clean debt of the holding as of December 31, 2024 amounted to 147.9 billion rubles. The ratio of pure debt to OIBDA over the past 12 months has been at the level of 14.8x. As a result of the additional mining, the holding debt (including repaid accumulated interest) will be reduced three times, to 60 billion rubles. “Thus, the company will significantly reduce interest payments, will be able to focus on development and will subsequently go to operating profit,” said Segezha Group.
Segezha Group is engaged in logging and processing wood. The total area of the leased forest fund is 15.2 million hectares.
In 2024, the group increased the workpiece of round forest by 18%, to 8.6 million cubic meters, paper production – by 12%, up to 360 thousand tons, lumber – by 10%, up to 2.3 million cubic meters, birch plywood – by 6%, up to 183 thousand cubic meters. Last year, the revenue of the holding increased by 15%, to 102 billion rubles, OIBDA – by 8%, up to 10 billion rubles, the net loss amounted to 22.3 billion rubles.
Segezha Group reported that the Dopamse was attended by AFK System, which retained the control package in capital, as well as a number of external investors, including key lenders. The Kommersant source explains that not all banks participated in the purchase of shares. The main lenders of Segezha Group are Sberbank, VTB, Alfa-Bank and ICD. In April, the head of the Ministry of Industry and Trade, Anton Alikhanov reported at a meeting of President Vladimir Putin with government members that the SEGEZHA Group debt loading scheme has been agreed with the owners, creditors and Central Bank banks.
Initially, during the placement, it was planned to attract up to 101 billion rubles, but in the process, the dopemission parameters made it possible to increase this amount to 113 billion.
Based on the needs of the company to repay the debt and demand from investors, the additional ministry was selected in full, the Sistema reported. They emphasized that the transaction will allow the company to continue “moving forward” and Segezha Group will have all the prerequisites for achieving high and stable operational results.
Igor Novoselov, consultant of the Forestry Analyst of Whatwood, notes that the preservation of the surgery of Segezha Group helps to maintain “at least some stability” in the timber industry complex. However, the expert emphasizes, in the medium term, the company’s stability will largely depend on foreign economic conditions, including the balance of supply and demand, price conditions, the level of transportation costs, as well as the general dynamics of the world economy. Alfa-Bank analysts previously called the domain “positive moment” for the company, but it was indicated that, with a large amount of placement, the share of minority shareholders will be significantly blown up.
