The diamond business is yet bright and has a good future in the coming days

Hitesh Patel, Managing Director of Dharmanandan Diamonds Pvt. Ltd., joined the family business in 1997 to help his father Laljibhai Patel, the founder of Dharmanandan Diamonds Pvt. Ltd. Egged on by its success, Hitesh set up the overseas presence of...

Yesterday

The talk around LGDs is all hype

As a teenager, Luca Luterbacher began to design and manufacture single pieces and individual items for wealthy private family friends from Switzerland and Lichtenstein. In 2017, he finally invested in his own luxury trademark "Luterbacher."...

12 august 2019

Correct adjustment of advertising is the major challenge

At the recent Amberforum held in the Baltic city of Svetlogorsk, Andrey Yanchevsky, Head of the trade representation of the LA VIVION jewelery company shared his opinion with the correspondent of Rough&Polished on the state and prospects of the jewellery...

05 august 2019

Small-scale diamond mining is the future in Botswana – Leon Daniels

Pangolin Diamonds, which is currently the most active diamond exploration company in Botswana, has called upon authorities in the southern African country to include diamonds into the minerals permit for small scale mining operations. Pangolin chief...

29 july 2019

“There has been a strict policy in Israel against LGDs; have been forbidden on IDE trading floor for years.”: Aviel Elia, Managing Director- IDI

Aviel Elia, an attorney by profession, has served as Legal Adviser and Company Secretary of IDI since 2013. As a key member of the Israel Diamond Institute (IDI) management team, he has been involved in developing company strategy and negotiating...

22 july 2019

ALROSA Q1 2019 IFRS results are down on a y-o-y basis

17 may 2019

alrosa_logo.jpgALROSA, the world’s leader in diamond mining, announces its IFRS financial results for Q1 2019.
Revenue declined by 27% on a year-on-year basis to RUB 70 bn owing to a higher share of small-size rough gem diamonds in sales and lower sales in carats (down 21% y‑o‑y).
However, compared to the previous quarter the revenue increased by 15% due to the 18% increase in sales volumes. The sales exceeded production by 35% due to increased sales of smaller-size diamond from inventories as polishers’ restocked early in 2019.
On a y‑o‑y basis, EBITDA decreased by 34% as revenue declined.
Free cash flow went down by 37% to RUB 26 bn, mainly due to a 35% y-o-y decrease in operating cash flow, despite capex going down by 20% y-o-y due to launch of Verkhne-Munskoye deposit.
Compared to the Q4 2018 it went up by 81% to due to a 40% higher operating cash flow q-o-q and a reduction in capex (down 45% q-o-q). Net profit amounted to RUB 24 bn, a 27% on a yearly basis due to lower revenue. It showed growth compared to the previous quarter because of, among other things, the low base of the Q4 2018 net profit (due to one-off factors, including impairment) and the growth in EBITDA. EBITDA margin remained flat q-o-q at 44% (down 5 pp y-o-y).