ALROSA, the world's leading diamond miner in volume terms, has revised downwards its guidance for 2018 sales to 37 million-38 million carats due to weaker demand for small-size rough diamonds in the second half of this year.
The key highlights for the first nine months of this year are:
Revenue increased by 11% on the back of higher price index and average diamond selling prices and a better sales mix, despite a 9% drop in sales in carats
Net profit grew by 33% y-o-y
The key highlights for the third quarter were:
Revenue decreased by 3% q-o-q on the back of weaker sales in carats (down 26% q-o-q) amid rising average prices, while a 19% y-o-y growth was driven by a higher price index and a better sales mix.
Net profit in Q3 decreased 5% q-o-q. An 87% y-o-y growth was driven by the improved market environment.
Net debt increased from 6 billion rubles to 36.6 billion rubles, mainly due to a decrease in cash following a 2017 dividend payment of 38.6 billion rubles.