Nov 21, 2016

ALROSA Reports Strong Growth for 9M 2016; Revenue Up 48% Y-o-Y

The Group’s net income and free cash flow both increased threefold y-o-y to reach RUB 116.9 billion and RUB 104.1 billion, respectively, the Company reported.

Andrey Zharkov, CEO of PJSC ALROSA, commented: “The recovering demand for diamonds has driven up sales volumes and reduced the remaining diamond inventories. Cost control measures have allowed to keep production costs growth rate at the minimum level. The threefold growth in the net cash flow and net profit of the Company creates enough liquidity to increase dividend payments to the shareholders and early debt repayment”.

The world’s largest producer of rough diamonds in carats  ALROSA  produced 38.3 million carats of rough diamonds in 2015; and its  revenue  for that year was RUB 224.5 billion.