Net profit AK “ALROSA” IFRS amounted at the end of the first quarter of 2020 3.1 billion rubles, which is 7.8 times less than in the same period last year, the diamond mining company.
EBITDA (earnings before interest, taxes, depreciation and amortization) decreased 4% yoy to RUB 30 billion.
the company’s Revenue decreased by 11% to 62.7 billion rubles.
Earlier it was reported that ALROSA in April 2020 were sold diamonds for $13.1 million, diamond — at $2.4 million Thus, compared to April of last year the company reduced diamond sales of nearly 96%, diamonds — 17%.
For the first 4 months of the current year, the company sold diamond products worth $919,8 million against $1,323 billion a year earlier.
in April 2020, the revenue of ALROSA from the sale of products was $15.6 million, which is almost 9.8 times lower than in March.
Recall that in late April the company suspended till the end of summer the work of their enterprises in diamond cutting due to the unfavorable market situation. As was stated by the CEO of ALROSA, Sergei Ivanov, “relative to cutting and polishing complex, almost the entire production, including the factory in Barnaul and Smolensk “the Crystal” — about 1 thousand people, we had to send in a simple and paid in accordance with the law, before the end of summer this year.”
Later, ALROSA announced that from 15 may to suspend mining at two deposits of the Aikhal MPD in Yakutia from-for crisis on key markets, due to including pandemic coronavirus infection.
we also Add that the net profit of AK ALROSA under IFRS amounted to at the end of last year 62,73 billion rubles, which is by 30.6% less than in the previous year. The revenue in 2019 decreased by 21% to 238.2 billion rubles. Gross profit fell 31% to 117,91 billion.
EBITDA decreased over last year by 31% to 107.1 billion rubles, and the EBITDA margin was 45% versus 52% a year earlier.
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