In its first quarter of 2015, mining giant Alrosa recorded a revenue increase of 31 percent on y-o-y basis. Revenues valued RUB 74.6 billion. EBITDA grew by 65 percent on y-o-y basis and reached RUB 42.9 billion with EBITDA margin grew up to 57 percent.

Net profit in Q1 2015 grew 3.7 times on y-o-y basis to RUB 22.2 billion. Andrey Zharkov, OJSC ALROSA CEO, commented: “Q1 2015 results were mainly driven by a favorable FX market environment. Diamond market in Q1 2015 was less active compared with Q1 2014 due to a lower demand for rough diamonds from Indian cutters and polishers. The fundamental factors remain positive in terms of demand for diamond jewelry.”

Free cash flow in Q1 2015 increased by 58 percent and amounted to RUB 31.8 billion due to higher operating profit. Cash and cash equivalents in Q1 2015 grew 2.5 times (y-o-y) and amounted to RUB 54.2 billion after liquidity was generated for bond redemption and dividend payment in 2015.