Mining giant Alrosa announced its financial results for the year 2015. Its revenues during this period valued RUB 224.5 billion, with a rise of 8 percent on y-o-y basis. The financial results beat the low volumes in sales. The said sales volume dipped 24 percent but the favorable FX market environment contributed to the strong 2015 financial results.

EBITDA grew by 26 percent and totalled RUB 118.5 billion, with EBITDA margin rising up 53 percent. Net income totalled RUB 32.2 billion as compared to net losses of RUB 16.8 billion in 2014.

Andrey Zharkov, CEO of PJSC ALROSA, commented: “After a decline in rough diamond market activity in 2H 2015, we note signs of recovering market demand for the company’s main products. Alrosa’s strong FY 2015 financial results were supported by both sales favorable FX market environment and the Company’s cost control initiatives.”