Vladimir Zboykov: New times have come for jewelers

How a personal collection of minerals was thrown on the scrap-heap, who is behind the destruction of gemstone consumption culture in Russia and why jewelers will soon have to choose between business and prison – all this was told to Rough & Polished...

Yesterday

Changing preconceptions in the diamond and financial markets

Eli Avidar is a man on the move…literally. In April, the former Israeli diplomat stepped away from the CEO’s office at the Israel Diamond Exchange, a position he had held for more than two years, and from the Israel Diamond Institute, where he had been...

13 august 2018

Chasing a dream…

Elina Chan, MD of Shenzhen Shi Qing Yu Zhubao Ltd completed her higher education from Xiamen University and Master’s degree from Hong Kong University. To achieve her dream to start a business, Elina gave up numerous job opportunities in Hong Kong and...

06 august 2018

Pangolin Diamonds using termites to find kimberlite indicators in Botswana

It is not a secret that the rate of kimberlite discovery in Botswana has dropped considerably and research has shown that termites can help diamond explorers have an understanding of the transport mechanism of kimberlite indicator minerals from the kimberlite...

30 july 2018

In another fifty years, we’ll have a different scale of valuation, and all those items of natural origin – including diamonds – will sharply increase in price

Within the framework of the Qatar-Russia 2018 Year of Culture, the World Diamond Museum hosts an exhibition of the Qatar Museums at the State Historical Museum in Moscow – "Pearls: Treasures of the Seas and the Rivers," that opened on 11 July...

24 july 2018

ALROSA posts Q1 2018 financial results under IFRS

16 may 2018
alrosa_logo.jpgPJSC ALROSA, the global leader in rough diamond production, announces its IFRS financial results for Q1 2018.
In Q1 2018, the Company's rough diamond sales grew by 43% qoq to 13.4 million carats amid a production decrease of 26% qoq. The growth was due to sales of around 6 million carats from company’s stocks.
ALROSA’s Q1 2018 revenue rose by 58% qoq to RUB 96 bn, driven by an improved product mix and higher average selling prices.
Q1 2018 EBITDA grew by 78% qoq to RUB 48 bn mainly driven by an upward trend in revenue and cost control initiatives.
The Company’s Q1 2018 net profit amounted to RUB 33.2 bn, up 2 times qoq.
Free cash flow rose 3.5 times qoq, reaching RUB 41.1 bn in Q1 2018. ALROSA’s net debt for the quarter fell 4.6 times to RUB 18.6 bn on the back of stronger free cash flow and proceeds from the sale of its gas assets.
“ALROSA's excellent financial performance in Q1 2018 is largely due to improved market conditions, which we were able to fully benefit from, and stringent cost control,” – said Sergey Ivanov, CEO and Chairman of the Executive Committee at ALROSA.