Polyus' profit increased by 12% in 2023%

AK&M 29 February 2024 15:31

Polyus' profit for 2023 increased by 12% to $1.73 billion from $1.55 billion a year earlier. Adjusted net income increased by 59% to $2.4 billion. This is stated in the company's message.

Revenue increased by 28% to $5.4 billion from $4.26 billion, operating profit increased by 67% to $3.17 billion from $1.9 billion, adjusted EBITDA increased by 51% to $3.89 billion from $2.58 billion.

Polyus is a gold mining company. The company's main production facilities are located in Siberia and the Far East: on the territory of the Krasnoyarsk Territory, Irkutsk and Magadan regions, as well as the Republic of Sakha (Yakutia).

Polyus' profit for the first half of 2023 amounted to $558 million, compared with $1.37 billion a year earlier. Revenue increased by 29%, reaching $2.38 billion. Adjusted EBITDA was $1,687 million (+37%). The total volume of gold sales reached 1,261 thousand ounces, an increase of 24% year-on-year. This is stated in the company's materials.