Rusal’s Q3 2017 revenue surges 19.4% on robust aluminium demand & rising LME prices

Rusal’s revenue for the three months ended September 30 was US$2,460 million, compared to US$2,060 million for the third quarter of 2016.

Vladislav Soloviev, CEO of RUSAL, said: “In 3Q2017 RUSAL set another record in sales of value added products with the latter reaching 50% in total sales for the first time. The Company remains committed to its sales and marketing strategy and is on track to increase its share of VAP in the product mix to 60% by 2021.”

For the nine months ended September 30, the company’s revenue rose to US$7,224 million from US$5,956 million in the corresponding period previous year.

The increase was driven by “recovery in the LME aluminium price in the nine months of 2017 by 22.6% to an average of USD1,924 per tonne as compared to USD1,569 per tonne in the nine months of 2016 as well as an increase in volumes of primary aluminium and alloys sold by 2.0% between the same periods.”

The Company’s EBITDA was USD549 million in 3Q2017 and  USD1,534 million in the nine months of 2017.Rusal achieved adjusted net profit and recurring net profit of USD727 million and USD1,122 million respectively for the nine months of 2017.

Rusal reduced net debt to USD7.6 billion as at 30 September 2017. “As part of commitment to continuous deleveraging, UC RUSAL has directed part of its strong 3Q17 cash flow to repayment of debt facilities and accumulated significant cash balance for further debt reduction.”