The Net Profit Of Alrosa Rose By 16.3 Times
The giant Russian diamond company ” Al Rosa ” said that its net profit rose, in accordance with International Financial Reporting Standards (IFRS), by the end of the first half of 2021 by 16.3 times compared to the same period last year.
The company stated, in its statement, that its profits during this period amounted to 54.2 billion rubles, approximately 850 million dollars.
Alrosa’s earnings, before interest, taxes, depreciation and amortization (EBITDA) during the reporting period, increased by 2.6 times – to 79 billion rubles.
Revenue increased by 2.5 times and amounted to 184.4 billion rubles. The company’s free cash flow in the January-June period amounted to 64.7 billion rubles.
And in the second quarter it was equal to 12 billion rubles. The company’s net profit in the second quarter increased by 26% compared to the previous quarter, and by 115 times compared to the same period last year and amounted to 30.2 billion rubles.
Earnings before interest, taxes, depreciation and amortization grew 389 times in annual terms – and amounted to 45.5 billion rubles.
This company, one of the three largest diamond mining companies in the world, accounts for 25% of global production. The company produces in the Republic of Sakha (Yakutia) and the Arkhangelsk region. The shareholders of the company are the Russian state represented by the Federal Property Management Agency (33.02%), the Republic of Yakutia – 25%, as well as the regions of this republic – 8%, and almost 34% of the shares are in free circulation.
