AK Alrosa PAO : ALROSA reports Q1 2016 IFRS results

Moscow, May 31st, 2016 - PJSC ALROSA, the global leader in rough diamond production, reports Q1 2016 IFRS results.

ALROSA's Q1 2016 revenue totaled RUB 102.3 bn, which is an increase of 37% y-o-y. This growth was associated with a favorable diamond market environment that contributed to an increase in diamond sales by 34% in Q1 2016 vs Q1 2015.

EBITDA grew by 38% vs Q1 2015 and totaled RUB 59.3 bn, with EBITDA margin going up to 58%.

Net income totaled RUB 49.9 bn, which is 2.2 times higher than in Q1 2015. Free cash flow reached RUB 59.9 bn due to a significant increase in Q1 2016 diamond sales volumes.

Andrey Zharkov, CEO of PJSC ALROSA, commented: 'In Q1 2016 we were able to increase our sales volumes which led to a reduction in our inventories, accumulated in H2 2015. Taking into account the improved market conditions, ALROSA's financial results in Q1 2016 indicate the Company's strong position on the market'.

This page was last updated on 31 May 2016 at 09.03