ALROSA Q3 and 9M 2021 IFRS results

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MDA Q3&9M 2021 Release
MDA Q3&9M 2021 Presentation
IFRS Q3&9M 2021 Consolidated statement
IFRS Q3&9M 2021 Consolidated statement_EXCEL

Moscow, 11 November 2021 – ALROSA, a global leader in diamond mining, announces its Q3 and 9M 2021 IFRS results

RUB bn

Q3
2021

Q2
2021

qoq

Q3
2020

yoy


2021


2020

yoy

Diamond sales, m ct, incl.

9.2

11.4

(20%)

5.0

83%

36.1

15.1

2.4x

gem-quality

6.5

7.5

(13%)

4.1

58%

23.7

11.5

2.1x

industrial

2.6

4.0

(34%)

0.9

3x

12.4

3.5

3.5x

Revenue

76.9

93.5

(18%)

49.7

55%

261.3

122.9

2.1x

EBITDA

34.6

45.5

(24%)

25.7

35%

113.7

55.8

2x

EBITDA margin

45%

49%

(4%)

52%

(7%)

44%

45%

(2%)

Net profit

25.0

30.2

(17%)

7.6

3.3x

79.2

10.9

7.3x

Free cash flow1

24.5

12.0

2x

22.6

8%

89.2

14.3

6.3x

Net debt2

8.9

(29.9)

-

107.0

(92%)

8.9

107.0

(92%)

Net debt / LTM EBITDA

 0.1x

(0.2x)

-

1.3x

-

 0.1x

1.3x

-

Alexey Philippovskiy, ALROSA’s CFO:

“In Q3’21, the demand for diamond jewelry continued to grow in double digits. In the USA, jewelry sales surpassed the 2018–2019 highs by over 50%, while in China demand for jewelry exceeded pre-crisis levels by 10%.

The strong end demand for jewelry and the corresponding demand for polished diamonds since the beginning of the year was initially met thanks to the rough diamond stocks accumulated by producers in 2019–2020. However, by the start of Q3’21, producers had run out of their stocks and began supplying “freshly” produced diamonds. In the coming years, the global diamond production will remain 20–25% below the pre-pandemic levels. On the back of the strong demand and limited supply, polished and rough diamond prices rebounded by 9% and 12%, respectively, versus the early 2019 levels.

These market trends had a significant impact on ALROSA’s performance in Q3:



1FCF (free cash flow) is the operating cash flow calculated in accordance with the International Financial Reporting Standards (IFRS), net of capital expenditure (posted as Purchase of Property, Plant and Equipment on the consolidated IFRS statement of cash flows).

2Net debt is the amount of debt less cash and cash equivalents and bank deposits at each reporting date in accordance with the IFRS.

This page was last updated on 11 November 2021 at 10.34