The IFRS net profits of ALROSA for the first half of 2016 grew by 90 percent to RUB90.4 billion (USD1.40 billion) from RUB47.4 billion (USD730 million) the year before, the company reported.

ALROSA’s revenues increased by 42 percent year-on-year to RUB186.7 billion (USD2.88 billion). The EBITDA increased by 58 percent to RUB111.3 billion (USD1.72 billion), while the EBITDA margin increased to 60 percent. The net cash flow increased two times year-on-year to RUB78.7 billion (USD1.22 billion).

“The company’s six-month financial performance resulted from a moderately steady diamond market and the rouble’s depreciation against the U.S. dollar when compared to the first half of 2015. ALROSA maintains a conservative outlook on the diamond market and adheres to permanent cost-control practices,” the CEO of ALROSA Andrey Zharkov said in a statement.

ALROSA is one of the largest diamond-mining companies in the world, accounting for 97 percent of all diamonds in Russia and about 25 percent of global diamond production. The company includes the marketing company United Selling Organization ALROSA, Brillianty ALROSA, the Aikhal Mining and Processing Division, the Mirny Mining and Processing Division, the Udachny Mining and Processing Division, and the Nyurba Mining and Processing Division. ALROSA’s major shareholders are Russia’s Federal Agency for State Property Management, which owns 43.9256 percent of the company, and the Sakha republic (Yakutia) that has a 25-percent stake. 23.0739 percent of ALROSA’s shares of stock are in free-float.

The IFRS net profits of ALROSA for 2015 was RUB32.192 billion (USD500 million), against a loss of RUB16.832 billion (USD260 billion) in 2014. Revenues increased by 8.38 percent to RUB224.524 billion (USD3.47 billion) from RUB207.159 billion (USD3.20 billion); gross profits rose by 22 percent to RUB130.075 billion (USD2.01 billion) from RUB106.616 billion (USD1.65 billion); and the EBITDA went up by 26 percent to RUB118.5 billion (USD1.83 billion). The EBITDA margin was 53 percent.

According to AK&M Information Agency’s DataCapital information retrieval system, the RAS net profit of ALROSA for the first half of 2016 increased 2.2 times to RUB82.751 billion (USD1.28 billion) from RUB37.583 billion (USD580 million) the year before. Revenues went up 31.75 percent to RUB146.935 billion (USD2.27 billion) from RUB111.524 billion (USD1.72 billion); sales profits surged 53.06 percent to RUB86.132 billion (USD1.33 billion) from RUB56.274 billion (USD870 million); and pre-tax profits increased 2.2 times to RUB103.229 billion (USD1.59 billion) from RUB47.004 billion (USD730 million).