RUSAL announces 2020 interim results

Time:Mon, 17 Aug 2020 07:50:26 +0800

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RUSAL announced its results for the six months ended 30 June 2020. Rusal CEO Evgenii Nikitin said “Despite the industry slowly starting to recover from the unprecedented blow caused by the pandemic, we are proud to say that RUSAL’s resilience was down to the robust business model long before COVID-19. Solid ties with our clients, uninterrupted production cycle, self-sufficiency in proper raw materials, investments in environmental and efficient technology, continuous expansion of the product portfolio, the development of proper technological applications and a long-term focus on sustainability – all these assets have placed our business among the leaders of the industry. Unfortunately, challenges caused by the pandemic are not the only ones that the world is facing today. The importance of protecting the environment and impact of climate change requires businesses be more receptive and subsequently, the investment community and market needs the corporate sector to respond in accordance with the current threats facing us. In the post-pandemic times the urgency and need for lowering carbon emissions is likely to remain a priority.”

Key highlights

(000 tonnes)	H1'20	H1'19	YoY
Primary aluminium	1,867	1,867	-
Alumina	4,022	3,850	4.5%
Bauxite (wet)	7,469	8,073	-7.5%
Sales of primary aluminium and alloys	1,890	1,978	-4.4%

(USD million)	H1'20	H1'19	YoY
Revenue	4,015	4,736	-15.2%
Cost of sales	-3,520	-3,931	-10.5%
Gross profit	495	805	-38.5%
Adjusted EBITDA	219	528	-58.5%