Segezha Group is actively managing its significant debt burden, with AFC Sistema standing by to provide support if required, Interfax reports. Dmitry Korovkin, executive director for corporate finance and IR at AFC Sistema, emphasized the group's commitment to Segezha amid financial struggles.
"We are prepared to assist in resolving the situation," Korovkin remarked, referencing the strategic short-term loans extended by Sistema Finance totaling 7.7 billion rubles (about $95 million) for debt refinancing purposes. Segezha Group's revenue declined 9% in 2023, leading to a net loss of 15.98 billion rubles (about $197 million).
