RUSAL's net profit for 2022 fell by 44.4%

AK&M 17 March 2023 11:17

RUSAL's net profit for 2022 fell by 44.4% to $1.78 billion compared to a year earlier. Adjusted EBITDA decreased by 29.9% to $2.03 billion from $2.89 billion. Revenue was $13.97 billion versus $11.99 billion. This is stated in the company's message.

It is noted that in 2022 RUSAL faced unprecedented pressure and restrictions due to the ban of the Australian government on the export of alumina and aluminum ores to Russia, as well as the shutdown of alumina production at the Nikolaev Alumina plant. The company had to quickly find new suppliers and build new logistics chains.

RUSAL was able to quickly rebuild the supply of raw materials and logistics chains, as well as successfully diversify sales channels and redirect the flow of finished products to the domestic and Asian markets. Aluminum sales remained virtually unchanged and amounted to 3.89 million tons (3.9 million tons in 2021).

RUSAL is a Russian aluminum company. RUSAL is present in 20 countries on five continents. RUSAL's ordinary shares are traded on the Hong Kong Stock Exchange (trading code 486). RUSAL's ordinary shares are traded on the Moscow Stock Exchange (trading code RUAL).

RUSAL's revenue in the first half of 2022 increased by 31.3% to $7.15 billion from $5.45 billion a year earlier, net profit – by 11.3% to $2 billion from $1.8 billion. Adjusted EBITDA increased by 37.4% to $1.8 billion from $1.3 billion.