In H1, Norilsk Nickel increased net profit by 3 times to $1.456 billion

In H1, Norilsk Nickel increased its net profit by 3 times to $1.456 billion, revenue by 0.4% to $5.708 billion, EBITDA by 8.6% to $2.496 billion. Net debt reduced by 31.7% to $3.461 billion.

The CEO of Norilsk Nickel, V. Potanin says that the company has again exceeded its target on the reduction of the circulation capital; it reduced by $900 million in H1 2014, and by 2 times within the latest 12 months. Free cash flow increased by 3 times to $2.4 billion.

Norilsk Nickel is the Russian largest diversified mining and metallurgical company. It is the world largest nickel and palladium producer, and one of the leaders in production of platinum, rhodium, copper and cobalt. Norilsk Nickel also produces many byproduct metals including gold, silver, tellurium, selenium, iridium and ruthenium. Its production departments are located in the Norilsk industrial area and at the Kola peninsula, also in Finland, the USA, Australia, Botswana and the SAR.