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Rusal IFRS adjusted net profit in 1H reaches $315 mln

Rusal raised its share of Asia sales revenues to 33% in the first half of the year, up from 23% the previous year

MOSCOW, August 11. /TASS/. Rusal's adjusted net profit under IFRS in January - June 2023 decreased by 54.3% year-on-year and amounted to $315 mln, according to the company’s statement.

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.

Revenue for six months decreased by 16.9% and reached $5.95 bln. At the same time, the company's net revenue fell by 75% to $420 mln, and profit before tax amounted to $269 mln compared to $2.36 bln 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.

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