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In H1 2014, ALROSA posted highest diamond sales in its entire history

28 august 2014
( – ALROSA’s (ALRS + 2,38%) diamond sales in the first half of 2014 exceeded the previous year level by almost 10 per cent and turned to be a record in the history of the company, reaching $ 2.8 billion. This was announced by Yury Okoyomov, Vice President of ALROSA, in the interview he gave to the ALROSA Magazine, a corporate publication.
Sales of gem-quality and industrial rough surpassed 21 million carats. The parent company, ALROSA remains the sales leader both in terms of value and volume. In the first six months of this year, the miner sold more than 13.388 million carats worth nearly $ 2 billion.
The second place is traditionally occupied by ALROSA Nyurba, whose sales in the first half amounted to 4.79 million carats worth $ 443.2 million.
According to Yury Okoyomov, there was a marked sales increase in the segment of industrial rough in the first half of 2014 - to $ 65.5 million, up 63 percent. "This was due to the general trends in the market and the fact that our units have been expending earnest efforts over the last two years to improve the effectiveness of sales in this segment," the Vice President said.
However, gem-quality diamond sales still account for the major part of ALROSA’s income having increased to $ 2.684 billion, or by 11 percent, in January-June of this year. However, proceeds from the sale of polished diamonds went up insignificantly. In the first six months of 2013, their sales reached $ 74.8 million, while in the same period of 2014 polished sales yielded $ 75 million.
ALROSA observed growth in demand and prices since the start of 2014, Yury Okoyomov said. “Accordingly, ALROSA also raised its prices. The last price increase occurred in July. Prices rose by 7.4 percent against the start of this year,” he said. However, the nature of price changes is comparable to the first half of 2011, 2012 and 2013, when there was also a marked improvement in demand. However, these periods ended in lower demand in the second half, which consequently brought about price adjustments,” Yury Okoyomov said.
The sales geography of ALROSA has not fundamentally changed. Belgium still accounts for the larger share of the miner’s sales. Antwerp is the world’s largest hub for trading rough and polished diamonds. Up to 80 percent of diamonds produced worldwide flow through this trade center. Russia is the second-largest market for the company in terms of sales, followed by India and Israel. China is increasing demand for diamonds. In particular, ALROSA is currently collaborating with Chow Thai Fook, the largest jewelry retailer in China and in the world. “There are buyers from the United States. American firms are busy taking part in auctions for diamonds of special sizes, +10.8. Their participation brings good results for our sales,” Yury Okoyomov concluded.
ALROSA is engaged in the exploration, mining, production and sale of diamonds. The company is operating in the territory of the Republic of Sakha (Yakutia) and in the Arkhangelsk Region. ALROSA produced 36.9 million carats of diamonds in 2013 and expects to drive its output to 36 million carats in 2014. The largest shareholders of ALROSA are the Russian Federation - 44 percent - and the Republic of Sakha (Yakutia) - 25 percent. The company is currently maintaining its free float at 23 percent of its stock.