GOLDNET.MARKET - “We want and are working to provide business with the opportunity to develop a lot of activity areas”

Today, almost all jewellery companies have their own wholesale websites, online stores, and social media pages. But a year ago, GOLDNET.MARKET, the first jewellery wholesale marketplace appeared in Russia, a new effective tool for the jewellery market...

20 september 2021

Platinum’s rare nature gives it additional value and appeal

Huw Daniel is the CEO of Platinum Guild International, overseeing market development activities in China, Japan, India and the USA, on behalf of the platinum producers of South Africa. Before taking up this role in 2015, Huw ran PGI USA for 12 years...

13 september 2021

Marco Carniello: We want to continue to be the engine boosting the jewellery industry

Italian Exhibition Group (IEG) is a leader in Italy in the organisation of trade fairs and one of the main operators in the trade fair and conference sector at European level, with structures in Rimini and Vicenza, as well as further sites in...

06 september 2021

There is a significant need for smart and technological financial solutions in the diamond industry

MDPS, the Israeli start-up Fintech company from the Mazalit Group is gearing up to enter the diamond industry soon. Zeev Maimon, the CEO of MDPS is also the Founder / CEO of MAZALIT, a B2B payment platform designed and dedicated to the global diamond...

30 august 2021

The future for synthetics lies in that it has become possible to grow a stone you want and make what you want out of it

Alex Popov, President of the Moscow Diamond Exchange and head of the Âme jewelry brand, which uses lab-grown diamonds to produce jewelry, sat for an interview with Rough&Polished sharing his views on the coexistence of natural and man-made diamonds in...

23 august 2021

ALROSA IFRS net profit in 2019 fell by 31%

10 march 2020

alrosa_logo.jpgALROSA announced its IFRS financial results for 2019. The company's net profit for 12 months of 2019 amounted to 63 billion rubles, a decrease of 31% compared with the previous year.
Revenue for the 12 months of 2019 decreased by 21%, to 238 billion rubles due to a decline in sales volumes by 12% amid falling demand in the diamond market, lower average like-for-like diamond price index (down 6%), and a higher share of small-size diamonds in the sales mix. EBITDA amounted to 107 billion rubles, down -31% year-on-year due to lower revenues, while EBITDA margin was down to 45% against 52% in 2018. 
Free cash flow for 2019 decreased by 48%, to 48 billion rubles, which was due to lower profitability as top line declined, along with a working capital build-up in 2019, which was partly offset by downscaled capex from initially planned RUB 29 bn to RUB 20 bn. The company's production plan for 2020 remained unchanged at 34.2 million carats.
Capital expenditures stand at 22 billion rubles.
In the fourth quarter, ALROSA's net profit amounted to 12 billion rubles, which is 14% lower compared to the previous quarter.
Over the period under review, the company's revenue increased by 41%, to 65 billion rubles, compared with the 3rd quarter of 2019 due to the growth in sales and prices. EBITDA increased by 40%, to 30 billion rubles, compared with the previous quarter. At the same time, free cash flow rose to 17 billion rubles against the background of growth in operating cash flow.
At the end of 2019, net debt / EBITDA for 12 months rose to 0.7x (2018 - 0.4x). The company's total debt grew by 23% to $ 1.9 billion, according to a statement by Alexey Filippovsky, ALROSA’S CFO.
ALROSA is the world leader in diamond production.

Victoria Quiri, Correspondent of the European Bureau, Rough&Polished, Strasbourg