Alrosa, the global leader in rough diamond production announced its Q1 2016 financial results. The company noted that revenues totaled RUB 102.3 bn, rising 37 percent on y-o-y basis. This growth was associated with a favorable diamond market environment that contributed to an increase in diamond sales by 34 percent in Q1 2016 vs Q1 2015.

EBITDA grew by 38 percent vs Q1 2015 and totaled RUB 59.3 bn, with EBITDA margin going up to 58 percent.

The compnay’s net income totaled RUB 49.9 bn, which is 2.2 times higher than in Q1 2015. Free cash flow reached RUB 59.9 bn due to a significant increase in Q1 2016 diamond sales volumes. Andrey Zharkov, CEO of PJSC ALROSA, commented: “In Q1 2016 we were able to increase our sales volumes which led to a reduction in our inventories, accumulated in H2 2015. Taking into account the improved market conditions, ALROSA’s financial results in Q1 2016 indicate the company’s strong position on the market”.