UC RUSAL’s Net Profit Halves in Q1’19

15 May 2019 (09:21)

UrBC, Moscow, May 15, 2019. United Company RUSAL’s net profit (calculated in accordance with the IAS) reached $273m in the first quarter of 2019, which was 49.8% less than one year earlier, the company reports.

UC RUSAL’s revenues dropped by close to 21%, down to $2.17bn.

According to UC RUSAL’s Director-General Evgeny Nikitin, last year’s events had their full effect on the company’s performance in the first quarter of the year; among other things, this holds true for the OFAC sanctions that only got lifted on January 27, 2019. The OFAC’s policy resulted in changes in the company’s sales structure: the share of high value-added produce decreased to 29% (259,000,000 kg) in the first three months of 2019.

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