UC Rusal’s Q1 net profits slumps by 69% q-o-q
Reportedly, UC Rusal, the world’s largest aluminum producer announced that its net profits in the first quarter of this year amounted to US$112 million, slumping by 69% from a quarter earlier.
The Q1 net profits was defined as adjusted net profits along with its effective share in Norilsk Nickel and it was above a forecast of US$106.6 million made by RIA Novosti.
However, the company’s sales revenue increased by 2.7% quarter on quarter to US$2.882 billion in the first quarter of this year.
Meanwhile, the EBITDA dropped by 38% year on year to US$237 million in the first quarter of this year. Its adjusted EBITDA margin decreased to 8.2% from 13.6%, caused by poor aluminum prices.
News Date 17 May 2012 16:33:38 reported by Frio Chou