Rusal in the first quarter of 2013 lost almost half of the net profit

The largest aluminum manufacturer in the world, the Russian company Rusal, completed the first quarter of 2013 with a profit of $ 52 million, which is 44.7 percent less than in January -last year. This was reported by the press center of Rusal.

Rusal gross profit in the first quarter of 2013 amounted to $ 432 million compared to $ 425 million in the same period last year, while the gross margin amounted to 16.1 percent and 14.7 percent in the first quarter of 2013 and 2012, respectively.

"The production of aluminum in the first quarter of 2013 decreased by 4 percent, or by 42 thousand tons - to 1 million 7 thousand tons compared to the first quarter of 2012 and by 3 percent, or by 31 thousand tons, compared with the fourth quarter of 2012 in connection with the start of the implementation of the program to reduce capacities. The decrease in production occurred mainly at some of the least effective plants of the company located. The European part of Russia and the Urals, ”the company said.

In the first quarter of 2013, Rusal recorded profit before taxation and mandatory payments to EBITDA $ 246 million, which is 11.3 percent more than in the previous quarter. At the same time, revenue increased by 2.2 percent to 2 billion 682 million dollars.

The fall in the profit was due to the fact that for the first quarter of 2013, payments to Rusal creditors were made in the amount of $ 483 million.

"Despite the continuing weakening of world -classes for aluminum and adverse trends in the market, in the first quarter of 2013, Rusal managed to improve his financial results," said Rusala director oleg Deripaska.