2013 Brings Lower Profit, Higher Revenue for ALROSA

Rapaport reported that in 2013, ALROSA’s (MCX:ALNU) profit fell 5 percent from the previous year, hitting $885.3 million. The fall came as “foreign exchange losses mounted due to a weakening ruble.”

As quoted in the market news:

Revenue from diamond sales grew 11 percent to $4.01 billion (RUB 144.2 billion). Total ‎group revenue at the Russia-based mining company, including sales from its gas, transportation, trading, social infrastructure and construction segments, rose 12 percent to $4.69 billion (RUB 168.5 billion). The growth in group revenue was a result of increased revenue from the company’s gas assets and a larger volume of diamond sales.‎

The quantity of gem diamonds sold during the year rose 15 percent to 38 million carats. Group ‎production rose 7 percent to 36.9 million carats. ALROSA’s cost of sales increased 19 percent to $2.27 billion ‎‎(RUB 81.73 billion), while group debt increase 13 percent to $3.85 billion (RUB 138.6 billion).‎

Click here to read the full Rapaport report.