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”.