The fall of the ruble helped “Rusal” to make a profit – BBC Russian

• 13 May 2015

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company “RUSAL” businessman Oleg Deripaska controls

Russian company “Rusal”, the world’s largest aluminum producer, has finished the first quarter of 2015 with a profit. Same period last year was loss-making.

Profit “Rusal” from January to March amounted to 572 million dollars compared with a loss of 325 million dollars for the same period in 2014. The price of aluminum from the beginning of the year fell by 20%.

This, in particular, contributed to the company adopted measures to improve production efficiency, as well as a significant weakening of the Russian ruble and the Ukrainian hryvnia.

As a result, the cost per ton of aluminum segment the first quarter decreased by 17,5%.

The cost of metal, widely used in the aviation and automotive industries, declined in the wake of concerns about the possibility of saturation of the market at the expense of imports from China.

In April the “Rusal” reported that due to low aluminum prices the company can preserve up to 200 ths. tons of aluminum production capacity.

In 2013, the company has already reduced its metal production at 647 thousand. tonnes.

Correction Market

On Wednesday, the company of businessman Oleg Deripaska has suggested that the price of aluminum is a stable rate of 2 thousand. dollars per tonne and above.

“The fundamental premise of the industry in the long term remain strong, and therefore we expect a market correction and the continuation of strong growth in metal consumption,” – said in a statement CEO Vladislav Soloviev.

Now the market value Metal is 1897 dollars per ton.

The company’s revenue for the first quarter increased by 16.7% compared to the 2014 year, to 2.447 billion dollars.

Despite the increase in profit after the announcement the financial results of the company’s shares on the Hong Kong Stock Exchange fell in price by 0,2%.