Alrosa increased its net profit under IAS by 2.1 times in H1
Edited by Rhod Mackenzie / 2015-08-28 12:23:25
ALROSA Finance Metals and mining Russia Russia mineral extraction Financial results Russia Metals and Mining Diamonds
In H1 2015 Alrosa increased its net profit under IAS by 2.1 times against H1 2014 to 47.398 bln roubles.
The growth was due to the increase of EBITDA and reduction of the loss from the exchange rate. Analysts expected the net profit significantly lower – at 40.945 bln roubles.
In H1 2015 EBITDA rose by 49% to 70.473 bln roubles. Profitability by EBITDA rose to 53% from 45% in 2014. Analysts expected EBITDA at 70.587 bln roubles.
The revenue for this period rose by 26% to 131.868 bln roubles having turned out to be slightly lower than analysts expected – 132.188 bln roubles. The growth is mainly explained by the growth of revenue from the sale of diamonds. The prime cost of sales rose by 9% to 54.880 bln roubles.
