
Leading global aluminium producer UC RUSAL announced results for the three months ended 31 March 2018. The company’s recurring net profit increased 22.4% to $531 million in Q1 2018, from $434 in the same period last year.

Revenue in the first quarter of 2018 was $2,744 million as compared to $2,297 million for the same period of 2017 following the growth in the LME aluminium prices. Adjusted EBITDA rose 20.4% to $572 million as compared to $475 million for the same period of the prior year.
Revenue from sales of primary aluminium and alloys stood at $2,245 million in the first quarter of 2018, as compared to $1,920 million in the first quarter of 2017, primarily due to 19.3% increase in the weighted-average realized aluminium price per tonne.
Revenue from sales of alumina increased 25.4% to $237 million in the first quarter of 2018 from $189 million in the same period of 2017. The increase was due to increase in the average sales price of alumina by 15.6% and an increase in the sales volume by 8.6%.
In 1Q 2018, aluminium production totalled 931 thousand tonnes with Siberian smelters representing 93% of total aluminium output. Alumina and bauxite production stood at 1,892 thousand tonnes and 2,960 thousand tonnes respectively.
“Current situation on the market is largely affected by OFAC Sanctions imposed on 6 April 2018. In present circumstances any forecast or outlook made or previously made should be deemed unreliable and may become irrelevant due to ongoing developments on the market at this period of time”, according to company press release.
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