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Alrosa's revenue exceeded 220 billion rubles in 2020
The proceeds of the diamond mining company Alrosa for the last year amounted to 221,5 billion rubles. The decrease was 7%.
According to financial results ALROSA Group under IFRS, the company's revenue for the fourth quarter of 2020 doubled compared to the same period last year - up to 98,6 billion rubles. This is due to the recovery in demand for diamonds.
Alrosa's net profit in 2020 fell by 49% compared to a year earlier and amounted to 32,2 billion rubles. Profit for the fourth quarter increased to RUB 21,3 billion, driven by an increase in revenue.
EBITDA for the reporting period decreased by 18% - to 87,6 billion rubles. Free cash flow in 2020 amounted to 79,5 billion rubles, and in the fourth quarter it was equal to 65,2 billion rubles. Alrosa's net debt at the end of last year amounted to 31,2 billion rubles.
According to Aleksey Filippovsky, deputy general director of Alrosa, sales in kind at the end of last year amounted to 17 million carats, which is more than double the figures for the same period in 2019. The recovery in sales made it possible to start active work to reduce the debt burden.