13 3月 Rusal’s full year revenue increases 25% YoY on strong aluminium demand and rising LME prices
Rusal’s full year revenue increases 25% YoY on strong aluminium demand and rising LME prices
Leading global aluminium producer UC RUSAL announced all-round growth in terms of performance (production and sales) as well as income for the 12-month period ended December 31, 2017.
The Russian aluminium giant with fully-integrated aluminium value chain operations posted 24.9 per cent increase in revenue, 42.4 per cent increase in adjusted EBITDA margin, and 268.8 per cent increase in adjusted net profit from the last financial year, on the back of strong LME aluminium prices and steady demand.
Rusal’s total revenue for the year ended December 31, 2017, stood at US$9,969 million (against US$7,983 million in 2016), adjusted EBITDA was US$2,120 million (compared to US$1,489 million in 2016), and adjusted net profit margin climbed to 10.8 per cent (from 3.7 per cent last year).
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The increase in total revenue was mainly due to the growth of sales of primary aluminium and alloys, which accounted for 83.5% of Rusal’s revenue. Sales of primary aluminium and alloys for the entire financial year totalled US$8,324 million, up from US$6,614 million in 2016.
Commenting on the full year 2017 results, Vladislav Soloviev, CEO of RUSAL, said, “In 2017, strong global demand for aluminium ensured a positive market backdrop for the industry, with RUSAL’s estimates showing that global demand for the metal grew by 6% throughout the year to 64 million tonnes. The global aluminium market balance was left in a deficit of around 1 million tonnes whilst the LME price grew by 22.7% year-on-year (“YoY”).
“Alongside this positive macro backdrop, RUSAL’s fourth quarter and full year results demonstrated continued momentum.”