RUSAL IFRS net profit falls 16.7% to $1.68 bln in Jan–Jun

MOSCOW, Aug 12 (PRIME) -- The net profit of Russian aluminum giant UC RUSAL decreased by 16.7% on the year to U.S. $1.680 billion in January–June, as calculated under International Financial Reporting Standards (IFRS), the company said in a statement on Friday.

The adjusted net profit increased to $689 million from $679 million, and adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) gained 37.4% to $1.807 billion. Revenue grew by 31.3% to $7.513 billion.

According to the statement, RUSAL’s aluminum output rose by 1.2% on the year to 1.891 million tonnes in the period, while sales of aluminum decreased by 11.8% to 1.763 million tonnes. Alumina production shrank by 19.6% to 3.300 million tonnes, and the output of bauxites decreased by 11.7% to 6.740 million tonnes.

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

https://rusal.ru/upload/iblock/9b3/8jcb9eqcgyaoxkkku4uxxu35gn9pc48y.pdf

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