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RUSAL announced financial results for three months and nine months ended 30 September 2019


RUSAL, the leading global aluminium producer registered in Cyprus and headquartered in Russia, published its financial results for the third quarter and nine months ended 30 September 2019.

For Q3 2019, due to the record low aluminium price on the London Stock Exchange, and the decrease in the realised premiums over the LME aluminium price revenue of the company for the period decreased by 14.8 per cent and made US$2,486mln as compared to US$2,918mln for the third quarter of 2018. In the nine months period, the company’s revenue decreased by 8.8 per cent, from US$7,915mln for Q3 2018 to US$7,222mln for Q3 2019. This was partially offset by a 9.8 per cent decrease in primary aluminium sales volume. In the third quarter of 2019, EBITDA decreased to US$237mln which is a decline of 64.9% from US$676mln for the same period of 2018.

In the reported three months, RUSAL continued optimization of the cost and structure of its debt portfolio through successful placement of two tranches of local bonds, each with the record low rate of 8.25 per cent and 7.45 per cent, respectively. The first tranche of the Rouble bonds was swapped into USD with effective interest rate of 3.835 per cent.

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