The company said its estimated earnings rose 50% and totaled more than $3 billion in the reporting period.
The steelmaker increased its share on the Russian pipe market from 22.1% to 35.6% in 2006, OMK said in a statement.
The company also said it will spend $800 million on investment programs in 2007, 21% more than last year, and plans to increase pipe production output to 1.8 million tons.
Founded in 1992, OMK Group is one of Russia's leading producers of steel pipes for the oil and gas industry, railroads, metallurgical coke and other steel products. OMK comprises six large metallurgical plants.
The company said it had expanded its production of large-diameter pipes intended for the construction of large trunk pipelines, such as the Nord Stream pipeline and the Eastern Siberia-Pacific oil pipeline.
