ALROSA reports Q2 and H1 IFRS results

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Q2 2013 revenue increased by 9% compared to Q2 2012 and amounted to RUB42.8 bn as the result of increased diamond sales volumes. EBITDA grew by 1% to Q2 2012 and amounted to RUB19.4 bn with a margin of 45%. In Q2 2013, ALROSA’s net profit amounted to RUB8.4 bn, which was a 2.4x increase vs Q2 2012 mainly due to the recognition of gain on disposal of 51% stake in “Timir” and lower FX losses.

H1 2013 revenue grew by 7% vs H1 2012 and reached RUB82.3 bn driven by increased sales volumes and improved demand for diamonds in Q2 2013. EBITDA decreased by 1% and amounted to RUB35.2 bn, net profit decreased by 10% and amounted to RUB14.6 bn due to growth of FX losses and higher interest expenses.

ALROSA notes positive dynamics in the diamond markets in H1 2013, which resulted in a 7% growth of rough diamond prices since the beginning of 2013.

This page was last updated on 16 September 2013 at 16.26