Norilsk Nickel IFRS net profit rises by 18% to $5.1 bln in Jan–Jun

MOSCOW, Aug 2 (PRIME) -- The net profit of Russian metals giant Norilsk Nickel increased by 18% on the year to U.S. $5.1 billion in January–June, as calculated under International Financial Reporting Standards (IFRS), the company said in a statement on Tuesday.

Consolidated revenue remained flat on the year at $9 billion in the period, while earnings before interest, taxes, depreciation, and amortization (EBITDA) fell by 16% to $4.8 billion as high labor expenses and mineral extraction tax (MET) affected operating costs.

The EBITDA margin amounted to 53%.

For further details, see the company’s statement on its official website:

https://www.nornickel.com/news-and-media/press-releases-and-news/nornickel-reports-first-half-2022-interim-consolidated-ifrs-financial-results/

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