PJSC ALROSA announced its Q3 and 9M 2016 IFRS results. ALROSA’s 9M 2016 revenue increased by 48% y-o-y and totaled RUB 255.6 bn. EBITDA grew by 67% y-o-y to RUB 150.0 bn, with EBITDA margin totaled 59%. Net income and free cash flow increased threefold y-o-y to RUB 116.9 bn and RUB 104.1 bn respectively.

Andrey Zharkov, CEO of PJSC ALROSA, commented: “The recovering demand for diamonds has driven up sales volumes and reduced the remaining diamond inventories. Cost control measures have allowed to keep production costs growth rate at the minimum level. The threefold growth in the net cash flow and net profit of the Company creates enough liquidity to increase dividend payments to the shareholders and early debt repayment”.

In 2015, the company produced 38.3 million carats of rough diamonds; 2015 revenue was RUB 224.5 billion.