Rusal’s Q3 revenue rises 18.6%YoY; aluminium production stands at 2.8 million tonnes

Rusal’s aluminium production for the nine months ended 30 September of 2018 totalled 2.8 million tonnes (+1.7% YoY), with Siberian smelters representing 94% of total aluminium output. Smelters utilization remained on average at 97%.  Aluminium production in Q3 2018 stood at 940,000 tonnes while that in 2017 was at 931,000 tonnes.

Production cost per tonne for nine-month 2018 rose 12% YoY to US$ 1658 per tonne as a result of significant increase in electricity, key raw materials prices and railway transportation tariffs.

Rusal’s sales of primary aluminium and alloys for the nine months of 2018 decreased by 5.4% to 2.7 million tonnes, as compared to 2.9 million tonnes sold through nine months of 2017. Revenue from sales of primary aluminium and alloys increased by USD377 million, or by 6.2%, to USD6,438 million, as compared to USD6,061 million for the corresponding period in 2017, primarily due to 12.3% increase in the weighted-average realized aluminium price per tonne driven by an increase in the LME aluminium price , which was partially offset by a 5.4% decrease in primary aluminium and allows sales volume.

Total revenue in Q3 increased by 18.6% to USD2,918 million as compared to USD2,460 million in Q3 2017. The result was an improvement of financial and operating indicators in the third quarter of 2018. Revenue for the nine months of 2018 increased by 9.6% to USD7,915 million as compared to USD7,224 million for the nine months of 2017 which reflects higher average aluminium sales price, premiums and alumina prices.

Revenue from sales of foil and other aluminium products increased by USD42 million, or by 18.1%, to USD274 million for the nine months ended 30 September of 2018, as compared to USD232 million for the corresponding period in 2017.