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M&A: ALROSA to dispose of several assets

At its absentee meeting on May 22, the Supervisory Board of OJSC ALROSA made a decision to withdraw from the authorized capital of several companies, ALROSA informed.

In particular, the company intends to sell a 84.6622% equity stake in Mirny CB MAK-bank, 100% of the authorized capital of Sitim Media Group LLC, 100% of the authorized capital of ALROSA-VGS LLC, and 3.8963% of the authorized capital of OJSC Sakha Diamond at a price based on an independent expert appraisal, at least equal to the market price.

OJSC ALROSA (tax number: 1433000147) is one of the largest diamond-mining companies of the world accounting for 97% of all diamonds of the Russian Federation and about 25% of the global diamond production. The company includes the unified marketing company United Selling Organization ALROSA, Brillianty ALROSA, Aikhal Mining and Processing Division, Mirny Mining and Processing Division, Udachny Mining and Processing Division and Nyurba Mining and Processing Division.

IFRS net profit of ALROSA for 2013 dropped by 5% to RUB 31.837 billion from RUB 33.634 billion the year before. Revenue increased by 12% to RUB 168.505 billion from RUB 150.88 billion, EBITDA by 12% to RUB 69.1 billion. Cash and equivalents at the end of the year totaled RUB 9.27 billion (+49% year-on-year). In 2013, the company increased production of diamonds by 7% to 36.9 million carats.

According to the DataCapital information retrieval system, RAS net profit of ALROSA for Q1 2014 grew by 9.88% to RUB 6.114 billion from RUB 5.564 billion the year before. Revenue increased by 24.51% to RUB 41.504 billion from RUB 33.334 billion, sales profit by 32.77% to RUB 17.34 billion from RUB 13.06 billion, pre-tax profit by 13.68% to RUB 8.196 billion from RUB 7.21 billion.

"AK&M", 27.05.2014


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