Alrosa posts 41-percent jump in revenue to $5.4 billion in 2016

Albert Robinson

Alrosa reported a 41-percent jump in revenue to 317.1 billion rubles ($5.4 billion) for 2016 IFRS (International Financial Reporting Standards) results. Meanwhile, net income surged fourfold on the year to 133.5 billion rubles ($2.25 billion) and free cash flow increased threefold to 111.4 billion rubles ($1.9 billion).

Igor Kulichik, Alrosa’s Vice President – Chief Financial Officer, said 2016 wasa year of active recovery in the diamond market following the decline of 2015.

The company managed to deliver record-high financial performance and generate net cash flow sufficient to repay short-term and medium-term liabilities and pay out dividends to shareholders.

Source Rapaport