ALROSA, the world’s leader in diamond mining, announces its IFRS financial results for 2019.
Its revenue over the year declined by 21% to RUR 238 bln ($3.7 bln) on the back of reduced sales (down 12%). This decline is attributable to weaker demand in the rough and polished diamonds market, lower average like-for-like diamond price index (down 6%), and a higher share of small-size diamonds in the sales mix. EBITDA amounted to RUR 107 bln (down 31%), free cash flow decreased by 48% to RUR 48 bln, net profit declined by 31% to $1 bln while the total debt for 2019 increased by 23% to $1.9 bln.