Diamonds across time

Not so long ago, the global library of professional publications on precious stones was replenished with a unique book about rare diamonds and diamond jewelry published by the World Diamond Museum. Alex Popov, the founder and director of the museum told...

Today

Academician Pokhilenko: The situation with rough diamonds in the Russian Federation will start changing for the worse as early as 2025

Nikolai Petrovich Pokhilenko, Academician of the Russian Academy of Sciences (RAS), Deputy Chairman of the Siberian Branch (SB) of the RAS, Scientific Director of the Institute of Geology and Mineralogy of the SB of the RAS, is a prominent...

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Botswana Diamonds keen to mine KX36 kimberlite if found commercial

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28 december 2020

‘We expect to completely open the Bourse for business by Q1 of the Year 2022,’ assures Vallabhbhai Patel, Chairman, SDB

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21 december 2020

ALROSA's net profit for the first quarter fell 87% y-o-y

05 june 2020

alrosa_logo.jpgALROSA’s net profit for the 1st quarter of 2020 under IFRS amounted to 3 billion rubles, which is a 74% drop from 11.7 billion rubles compared to the previous quarter and fall of 87% compared to last year due to non-cash factors (foreign exchange loss of RUB 21 bn resulting from the revaluation of foreign currency debt).
Revenue in Q1 was RUB 63 bn (-3% q-o-q) amid a 14% decline in the average realised price, and decrease in other revenue and income from grants.
On a y-o-y basis, revenue decreased by 11% as a result of lower sales volumes (down 11% y-o-y) caused by COVID-19 and price index reduction.
EBITDA increased to RUB 30 bn (up 2% q-o-q) mainly due to seasonal reduction in social and SG&A expenses. A 4% y-o-y reduction resulted primarily from lower sales volumes (down 11%).
EBITDA margin expanded to 48% (up 2 pp q-o-q and up 4 pp y-o-y) on the backdrop of lower costs.
Free cash flow (FCF) in Q1 went up by 30% q-o-q to RUB 22 bn amid a stronger operating cash flow (up RUB 0.7 bn) and a seasonal reduction in CAPEX (down RUB 4.3 bn).
A 16% y-o-y decline was mostly driven by a RUB 5.2 bn decrease in the operating cash flow partially offset by a RUB 1.2 bn reduction in CAPEX.
ALROSA also released a revised production plan, which was reduced to 28-31 million carats (previously 34 million carats).
In addition, the company cut CAPEX from RUB 22 bn to RUB 20 bn.

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