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ALROSA approved L/C contract.

At the absentee sitting Jan. 23 ALROSA supervisory council approved the L/C contract with VTB Bank, the company informed.

The irrevocable L/C was opened in the volume of $107.97mln Nov. 1, 2013.

Besides, the banking guarantee contract on $100mln with VTB Bank in favor of AK ALROSA was approved. BOD decided to stop participation in ALROSA-Gaz through the sale of the share (99.9995%) for 19.9% of the share capital.

ALROSA (TIN 1433000147) is one of the leading diamond producers in the world. It covers 97% of the total amount of the diamonds produced in Russia and about 25% in the world. The Company includes ECO ALROSA, ALROSA Diamonds, Aikhalsky, Mirninsky, Udachninsky and Nyurbinsky GOKs. The 2010-sales reached $3.483bn.

The Russian government holds 50.9%; Sakha Republic (Yakutia) government 40%. The share capital is equal to 3.682bn rub. split in 272726 common stocks of 13502.5 rub. par.

The IH 2013 net profit at ALROSA declined (IAS) 9.73% to 14.616bn rub. from 16.191bn rub. prior year. The revenues rose 7.45% to 82.229bn rub. from 76.529bn rub.; pretax profit dropped 10.52% to 19.793bn rub. from 22.121bn rub.; EBITDA - 0.51% to 35.245bn rub. from 35.525bn rub.; EBITDA margin - to 43% from 46.

The 9-month 2013 net profit moved up (RAS) 2.81% to reach 22.833bn rub. from 22.209bn rub. prior year period. The revenues added 10.39% to come to 100.231bn rub from 90.795bn rub.; profit from sales - 4.93% to 40.125bn rub from 38.241bn rub.; pretax profit moved down 0.48% to 28.965bn rub from 29.104bn rub.

"AK&M", 13:54, 28.01.2014 1251 AKM,COR,BNK


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