VSMPO-Avisma says IFRS net profit drops to $91.678 mln in 2020

MOSCOW, Mar 15 (PRIME) -- The net profit of Russian titanium giant VSMPO-Avisma dropped to U.S. $91.678 million in 2020 from $321 million in 2019, as calculated under International Financial Reporting Standards (IFRS), the company said in a report on Monday.

Revenue decreased by 23.2% to $1.251 billion. Earnings before interest, taxes, depreciation and amortization (EBITDA) decreased by 17.9% to $461.78 million.

The cost of sales fell by 22% to $808.43 million, while operating profit went down by 30.4% to $235.002 million.

The net debt fell 54.6% to $459.817 million.

End