TelestackSailors SocietyTMS Awards 2020CimbriaViganPort of Vancouver USA
  • TMS Awards 2020
  • TOC Events
  • The Wolfson Centre for Bulk Solids Handling Technology
  • Sailors Society
  • China Coaltrans 2020
  • TMS Webinar Series COVID-19: A Leadership Perspective - ‘Container Terminals in the Pandemic - Rapid bounce back or slow recovery?

UC Rusal’s third quarter results

(Posted on 09/11/18)

 UC Rusal, a leading global aluminium producer, has announced its results for the three and nine months ended 30 September 2018.

Key highlights include:

  • Adverse effect of the OFAC sanctions resulted in extraordinary low sales volume reported by the Company in the second quarter of 2018. Compared to this low base level there was a one-off recovery of sales volume through the third quarter of 2018.
  • Thus, the Company reported 33.6% growth in volumes of primary aluminium and alloys sold in the third quarter of 2018 upon the extension of Company’s general licenses, after a significant reduction in the second quarter of 2018. Revenue in the third quarter of 2018 increased by 18.6% to USD2,918 million as compared to USD2,460 million in the third quarter of 2017. The result was an improvement of financial and operating indicators in the third quarter of 2018.
  • Sales of primary aluminium and alloys for the nine months of 2018 decreased by 5.4% to 2,794 thousand tonnes, as compared to 2,955 thousand tonnes sold through nine months of 2017, while sales of alumina dropped by 4.5% to 1,457 thousand tonnes for the nine months 2018, as compared to 1,526 thousand tonnes sold through nine months of 2017. Revenue for the nine months of 2018 increased by 9.6% to USD7,915 million as compared to USD7,224 million for the nine months of 2017 which reflects higher average aluminium sales price, premiums and alumina prices.
  • The third quarter of 2018 was characterized by the rising aluminum market deficit outside of China, as well as the decline in available aluminum stocks to lowest levels in 10 years. The situation has caused upside price volatility at the highest levels.
  • As a result of the above and due to the depreciation of Russian Rouble against US dollar in the third quarter of 2018, the Company profit for the third quarter of 2018 increased by 46.3% to USD597 million, as compared to USD408 million in the second quarter of the year. However the adjusted net profit (the net profit adjusted for the net effect of the Company’s investment in Norilsk Nickel, the net effect of derivative financial instruments and the net effect of non-current assets impairment) for the nine months of 2018 increased by 20.1% to USD873 million as compared to USD727 million for the nine months of 2017.
  • Production cost per tonne in aluminium segment amounted to USD 1,658 and increased by 12.3% in the nine months of 2018 as compared to the same period of 2017 as a result of significant increase in electricity, key raw materials prices and railway transportation tariffs.
  • Whilst the Company continuously monitors the impact of the OFAC Sanctions on the Group, the Company's current assessment remains the same, that it is highly likely that the impact may be materially adverse to the business of the Group. The Company's primary focus remains on the maintenance of its operations and the protection of the interests of all of its creditors, investors and shareholders.

Latest News

Rio Tinto learns to live with Covid-19

(Posted on 18/10/20)

Rio Tinto has released its third quarter production results.Chief Executive J-S Jacques said “... Read more


WCA supports IEA call for inclusivity

(Posted on 16/10/20)

Michelle Manook, Chief Executive, World Coal Association (WCA) has issued a statement on the World Energy... Read more


New Argentine frac sand plant selects Superior

(Posted on 12/10/20)

Superior Industries, Inc., a global manufacturer and supplier of bulk material processing and handling... Read more


Rusal smelter to switch to eco-friendly pitch

(Posted on 12/10/20)

As part of its environmental modernization program, by 2024 RUSAL, a leading global aluminium producer... Read more


Latest grain movement record for CN

(Posted on 07/10/20)

As the North American economy continues its recovery, CN is pleased to announce that its people moved... Read more


FLSmidth to acquire KnowledgeScape

(Posted on 07/10/20)

FLSmidth has confirmed the signing of a definitive agreement for the acquisition of KnowledgeScape,... Read more


BHP Australian apprenticeship pledge

(Posted on 02/10/20)

BHP CEO Mike Henry has announced BHP’s commitment to training and funding for 3,500 new Australian... Read more


U.S. agriculture urges Trump to remain in WTO

(Posted on 28/09/20)

The National Grain and Feed Association (NGFA) in the USA and 61 other U.S. agriculture stakeholders... Read more


Rusal completes domiciliation process

(Posted on 27/09/20)

RUSAL, a leading global aluminium producer, has announced that it has been registered as a new resident... Read more


WCA welcomes IEA report

(Posted on 21/09/20)

The World Coal Association (WCA) Chief Executive, Michelle Manook has welcomed the IEA Energy Technology... Read more


China Coaltrans 2020Port of StocktonCoaltrans Virtual World Coal Leaders Network 2020Bühler GmbHThe Wolfson Centre for Bulk Solids Handling Technology Port of South Louisiana
  • Vigan
  • Bühler GmbH
  • Coaltrans Virtual World Coal Leaders Network 2020

Subscribe to our newsletter

Keep up to date with the latest global news in bulk cargo handling and shipping