Operating expenses increased 1,000%, to 533.2 mln rubles ($19.7 mln), while pre-tax profit rose 800%, to 6.7 bln rubles ($248 mln).
Established in 2001, TMK accounts for about 44% of Russia's pipe output. The company produced 2.86 million metric tons of pipes in 2005, of which exports totaled 750,000 metric tons.
TMK supplies products to more than 60 countries, with clients including oil majors Royal Dutch Shell and Total, and Spanish energy company Repsol. Domestically, the company produces pipes for energy giant Gazprom, crude producers Rosneft, TNK-BP, LUKoil, Gazprom Neft, and others. In addition to the oil and gas industries, TMK supplies pipes to the chemical and petrochemical, machine-building, power and construction sectors.
