9M 2015 ALROSA revenue increased by 17% y-o-y and amounted to RUB 172.5 bn. Despite 20% y-o-y sales volume decline, FX market environment contributed to strong 9M 2015 financial results. EBITDA grew by 36% and reached RUB 89.8 bn. Net income rose 2.5 times to RUB 32.2 bn. Free cash flow increased by 59% and amounted to RUB 35.8 bn.
The Company’s Q3 2015 revenue decreased by 29% q-o-q amid the diamond market slowdown and amounted to RUB 40.6 bn, expenses fell by 30%, whereby margin remained flat at 48%.
Q3 2015 loss was driven by ruble depreciation against the US dollar and revaluation of USD-denominated loans and borrowings.