PhosAgroPHOR6942,00 PBuy
Magnitogorsk Iron and Steel WorksMAGN39,51 RBuy
SeverstalCHMF1003,40 RBuy
NLMKNLMK150,00 RBuy
ALROSAALRS76,72 РBuy
Сбер БанкSBER120,39
Some Russian companies will not release a report for the first quarter of 2022. Official reason: taking care of the holders of depositary receipts, who can't do anything with their papers.
Phosagro (PHOR)
18 April "PhosAgro" said, what will not publish the report for the first quarter of 2022. She explained her decision as follows.: the company reports simultaneously to the holders of shares and receipts, but the latter are not currently being traded. According to PhosAgro, it's unfair to some investors.
Probably, the company talks about investors, who bought her receipts on the London Stock Exchange. This platform suspended trading in Russian securities in early March.
16 On April, the President signed amendments to the law "On Joint Stock Companies", which oblige Russian companies to delist receipts from foreign exchanges.
In March, the United States eased restrictions on the export of chemical products from Russia and equated fertilizers with essential goods.. At the same time, the export earnings of companies like PhosAgro may still fall.. According to Interfax, in the first quarter, fertilizer exports decreased by 17% year to year due to problems with the transportation of goods from Russia.
MMC (MAGN)
14 In April, MMK decided not to issue a report for 1 quarter of 2022, because "a significant part of investors" does not have the opportunity to trade the company's securities. The decision on the payment of dividends will be made at the meeting of shareholders at the end of May.
Earlier, Interfax wrote, that "MMK considers it inappropriate to pay final dividends due to problems with payments". The company called this news speculative..
In mid-March, the European Union banned the import of some steel products from Russia. According to analysts, Severstal and NLMK will suffer the most from sanctions: they export a significant part of their products to Europe.
Share of exports from sales in 2021
| European Union | Total | |
|---|---|---|
| NLMK | 17,5% | 59,0% |
| Severstal | 34,2% | 47,0% |
| MMC | 7,0% | 26,0% |
Severstal (CHMF)
11 In April, Severstal decided not to report on 1 quarter of 2022, because "a significant portion of its shareholders are unable to make investment decisions".
Even the company's managers recommend not to pay dividends for 4 quarter of 2021 and 1 quarter of 2022.
In early March, Interfax reported, that Severstal has completely stopped the shipment of metal to all European customers. The company itself declined to comment and noted, that it is considering reorienting exports to Asia, South America and the Middle East.
NLMK (NLMK)
1 April NLMK decided not to publish reports for 1 quarter "due to the inability of a significant part of the investment community to carry out transactions with the company's securities". Instead, NLMK plans to report immediately for 6 months of 2022.
NLMK managers also recommend that the Board of Directors not pay dividends for 4 quarter of 2021 and 1 quarter of 2022.
30 NLMK Chief Financial Officer Shamil Kurmashov said in March, that the company supplies products to Europe and the USA in the same mode. Later, NLMK's press service clarified: Kurmashov spoke only about the first quarter, and the company no longer gives long-term forecasts.
Alrosa (ALRS)
10 In March, Alrosa suspended the publication of monthly data on sales of diamonds and polished diamonds. The company said, that it is forced to adapt to changing working conditions.
In March, the United States banned Alrosa from raising capital through new bonds. And in April, the country expanded sanctions.: blocked the company's assets and obliged American individuals and legal entities to stop financial transactions with Alrosa. For this reason, the company cannot pay the coupon on Eurobonds.
Sberbank (SBER)
By decision of the Bank of Russia, with 6 Banks should not publish financial statements according to Russian standards. At the same time, they are still obliged to send reports to the regulator..
Sberbank was one of the first to refuse to report publicly.. 5 March company said, that will not publish RAS financial statements for February 2022.
What to look at for an investor
Company reports would help to understand, how the new sanctions affected their financial results. But the benefits of such reports would be negligible.: most of the restrictions were introduced in March, that is, at the very end of the first quarter.
At the same time, investors and analysts will still be able to indirectly assess the results of companies., albeit with a large margin of error. For example, according to the reports of other companies from the same industry. So, Akron report will help to partially assess the impact of sanctions on PhosAgro. Quite possibly, that the reports of individual companies will affect the quotes of the entire sector as a whole.
Share prices for 12 hours 19 April and year-to-date dynamics
| Phosagro (PHOR) | 6873 R (+17%) |
| MMC (MAGN) | 39 R (−44%) |
| Severstal (CHMF) | 983 R (−39%) |
| NLMK (NLMK) | 148 R (−32%) |
| Alrosa (ALRS) | 75 R (−38%) |
| Sberbank (SBER) | 121 R (−59%) |
6873 R (+17%)
