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RUSAL has IFRS loss of $55 mln in 2012

March 04, 2013, 15:53 UTC+3
UC RUSAL in 2012 accounted for approximately 9 percent of global production of aluminium and 8 percent of alumina
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MOSCOW, March 4 (Itar-Tass) – UC RUSAL, the world’s largest aluminium producer, in 2012 has a net loss under International Financial Reporting Standards (IFRS) worth 55 million US dollars, compared to 237 million US dollars in net profit for 2011, the company said in a release.

UC RUSAL in 2012 accounted for approximately 9 percent of global production of aluminium and 8 percent of alumina. UC RUSAL employs about 72,000 people in 19 countries, across 5 continents. UC RUSAL markets and sells its products primarily in the European, Japanese, Korean, Chinese, South East Asian and North American markets. UC RUSAL’s ordinary shares are listed on The Stock Exchange of Hong Kong Limited, global depositary shares representing UC RUSAL’s ordinary shares are listed on the professional compartment of Euronext Paris (RUSAL for Reg S GDSs and RUAL for Rule 144A GDSs), and Russian depositary receipts that are issued on common shares of the company are listed on Moscow Exchange (RUALR/RUALRS)

The company revenues decreased by 11.4 percent to 10.891 billion US dollars, EBITDA - fell by 63.6 percent to 915 million US dollars. Adjusted EBITDA margin was 8.4 percent against 29.4 percent at the end of 2011. Thus, the financial performance of UC RUSAL was higher than the consensus forecast of analysts interviewed by Itar-Tass on Sunday. Analysts predicted on the results of 2012 net loss of UC RUSAL under IFRS of 103 million US dollars, revenues - at 10.88 billion US dollars, EBITDA - in the amount of 882 million US dollars.

At the same time, the company’s normalised net profit in 2012 fell by 85 percent to 274 million US dollars.

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