MOSCOW, August 11. /TASS/. Rusal in January-June 2023 increased aluminum production by 1.2% year-on-year to 1.91 mln metric tons, according to the company’s statement.
The company’s aluminum sales increased in annual terms by 9.8% to 1.94 mln metric tons. According to the report, the increase in production was due to the launch of the Taishet aluminum smelter.
Meanwhile, Rusal's adjusted net profit under IFRS in January - June 2023 decreased by 54.3% year-on-year and amounted to $315 mln. Adjusted EBITDA in the reporting period fell by almost 84% to $290 mln. At the same time, adjusted EBITDA margin decreased to 4.9% against 25.3% a year earlier.
Rusal raised its share of Asia sales revenues to 33% in the first half of the year, up from 23% the previous year. At the same time, the percentage of sales in the US decreased from 7% to 2%, while Europe's part fell from 40% to 31%. The CIS countries contributed for 33%, up from 29% the previous year.
Rusal is the largest aluminum producer outside of China and the only primary aluminum producer in Russia. The largest shareholder of Rusal with a share of 56.88% is En+ Group, founded by Oleg Deripaska. Sual Partners owns 25.52% of the shares.