Pavel Sokolov: Every stone has its beauty

THE ‘GEMSTONES BY SOKOLOV’ brand has been popular for over 25 years. The aim of this company is to supply any kind of gem studs to the Russian market including the unique ones except diamonds of any cut. The product range by the SOKOLOV Company is very...

Today

“We are building a new state-of-the-art tender facility,” says Ahmed Bin Sulayem, Executive Chairman, DMCC

Ahmed Bin Sulayem certainly needs no introduction being widely popular globally as one of the leaders of modern Dubai. As the Executive Chairman of DMCC, Ahmed Bin Sulayem has played and continues to play a key role in establishing and positioning DMCC...

20 may 2019

De Beers scaling up Tracr ahead of formal launch

De Beers tracked 100 high-value diamonds along the value chain during the pilot of Tracr™, its industry blockchain platform, for the first time in May last year. A De Beers spokesperson Bianca Ruakere told Rough & Polished in an exclusive interview that...

13 may 2019

The perfect couple - platinum and diamonds

The Jewelry House of Leon Megé located in New York has long been firmly established in the jewelry market as a source of magnificent jewelry, in which platinum and diamonds often sparkle being married together and attracting everyone’s eyes, but are...

06 may 2019

The technology of growing single-crystal diamonds has now become industrial in nature

It is believed that the reserves of natural diamonds will be exhausted by the middle of the century, and therefore production of synthetic diamonds is rapidly gaining relevance. According to Business Insider India’s estimates, the global synthetic diamond...

29 april 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).