Revenues for 2016 increased by 41% compared to the same period in 2015 and amounted to 317.1 billion rubles. EBITDA increased by 49% compared to the same period in 2015 to 176.4 billion rubles, EBITDA margin was 56%.
Net profit showed a fourfold increase over the same period last year and amounted to 133.5 billion rubles. Net cash flow increased 3-fold to 111.4 billion rubles.
"2016 was a year of active recovery in the diamond market after the recession in 2015. Companies failed to demonstrate a record financial performance and to accumulate the amount of net cash flow sufficient to cover short-term and medium-term obligations and payment of dividends to shareholders ", - said Vice President - Chief Financial Officer Igor Kulichik ALROSA.
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Platinum mining company Northam Platinum sold a 20.3 percent stake in the diamond company Business Venture Investments No 1952 Proprietary company Trans Hex.
The company said in a statement that it had received a cash consideration of 81.8 million rand ($ 5.3 million). That price includes a 7.6 percent premium to the stock Trans Hex, the estimated average for the 30-day period of trading on the stock exchange.
Northam Platinum announced that proceeds from the sale of shares will be focused on the development of its own projects.
"The sale of non-core assets for cash provides additional funding for Northam, the company can pursue its strategic objectives for growth and expand the portfolio of assets of platinum production", - said General Director of Northam Paul Dunne (Paul Dunne).
Acquired by Mvelaphanda Resources in 2011, Northam also received a stake in Trans Hex.
Trans Hex company owns diamond mines Bloeddrif (Bloeddrif) and Bakey (Baken) in South Africa.
In addition, the company owns the mine Somiluana (Somiluana) in Angola. Trans Hex holds a 33 percent stake in the mine, while the state diamond company Endiama - 39% of its shares.
The remainder of the shares collectively owned by three local companies.
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