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07/12/2017
15:59
ALROSA sold products worth $334.2 million in November

In November 2017, ALROSA Group sold $334.2 million worth of rough and polished diamonds. Rough diamond sales by value amounted to $325.8 million, polished diamond sales $8.4 million, ALROSA informed.

In January-November 2017, ALROSA's rough and polished diamond sales amounted to $4.029 billion. Rough diamonds were sold for $3.942 billion, polished diamonds ? for $87.4 million.

"Sales in November were consistent with our expectations. The core sales markets displayed strong demand for rough diamonds. The significant sales growth in monetary terms against last November (+36%) is due, in part, to the low base effect. As a result of the currency reform in India late last year, the demand for rough diamonds from small and middle-sized cutting and polishing companies in this country was temporarily reduced," ALROSA Vice President Yury Okoemov said commenting on the sales in November.

PJSC ALROSA (tax number: 1433000147) is one of the largest diamond-mining companies of the world accounting for 97% of all diamonds of the Russian Federation and about 25% of the global diamond production. The company includes the unified marketing company United Selling Organization ALROSA, Brillianty ALROSA, Aikhal Mining and Processing Division, Mirny Mining and Processing Division, Udachny Mining and Processing Division and Nyurba Mining and Processing Division. The company's largest shareholders are Russia's Federal Agency for State Property Management and the Sakha Republic / Yakutia.

IFRS net profit of ALROSA for H1 2017 decreased by 46% to RUB 48.9 billion from RUB 90.4 billion the year before. Revenue was RUB 155.6 billion against RUB 186.7 billion the year before. EBITDA reached RUB 72.8 billion, net cash flow was RUB 50.3 billion.

"AK&M", 07.12.2017 13:05

 

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