Nordgold says IFRS net profit triples to $578.2 mln in 2020

MOSCOW, Mar 19 (PRIME) -- The net profit of Russian gold mining company Nordgold, controlled by businessman Alexei Mordashov, soared to U.S. $578.2 million in 2020 from $166.9 million in 2019, as calculated under International Financial Reporting Standards (IFRS), the company said in a statement on Friday.

Revenue increased by 28.5% to $1.861 billion, while adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) grew by 52.4% to $1.02 billion.

Free cash flow amounted to $551.9 million in the period.

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