ACRA has confirmed the credit rating of Sibsteklo

Dear colleagues, we are publishing news about the member of the Association "StekloSouz" of Russia, "Siberian Glass" LLC (Sibsteklo):

The ACRA rating agency has confirmed the credit rating of Sibirskoye Steklo LLC (the largest glass container manufacturer in the Siberian and Far Eastern Federal Districts, an asset of RATM Holding) at the BB-(RU) level with a "developing" forecast.

When analyzing the business profile, the transfer of property involved in production activities and previously leased to Sibsteklo was taken into account. Analysts took into account the stable contract base - Sibsteklo has been interacting with its main customers for more than five years, as well as the geographic diversification of sales and business profitability. The FFO (funds from operating activities) indicator before net interest payments and taxes by the end of 2024 is expected to be at the level of 1.6 billion rubles (for comparison - 1.5 billion in 2023), in the future, experts expect this value to grow.

According to ACRA, the company's revenue will increase by 1.3% in 2024. The production model of Sibsteklo is quite flexible: changing the product range on the production lines takes several hours. The main share in the output structure is beer bottles (in various modifications) - about 90%.

From March to November, the demand for glass containers exceeds the plant's capacity; from December to February, part of the manufactured products is sent to the warehouse for future shipments. Glass complexes are located in close proximity to sales markets (the Novosibirsk Region accounts for about 30% of sales); glass products are sold in other regions and exported.

Sibsteklo's strategy is aimed at increasing internal efficiency. In 2021, the Board of Directors was formed and risk management instructions were adopted.

- The company is improving corporate governance based on ESG practices: we strive for openness and are ready to provide information to assess our work, - comments Anton Mor, General Director of Sibsteklo. – In conditions of turbulence, when the manufacturing sector becomes sensitive to changes in the macroeconomic situation and regulatory environment, the presence of a stable rating indicates the enterprise’s resistance to external factors. This is one of the key benchmarks for investors and business partners who decide on cooperation with Sibsteklom.