RapNet


Rapaport News

 

Mining

 
Rapaport 宣传
Martin Rapaport’s Webinar on Estate Jewelry
October 30 2019

高级搜索
最新文章
视频
功能
新闻
挖掘
原石市场
抛光市场
制造
零售

Alrosa Profit Drops in Third Quarter

Earnings down 44% year on year.
Nov 10, 2019 9:32 AM   By Rapaport News
Print 打印 Facebook Facebook Twitter Twitter 共享 Share


RAPAPORT... Weak rough-diamond demand led to a decline in profit at Alrosa in the third quarter, the Russian miner reported. 

Profit slid 44% to RUB 13.5 billion ($211.6 million) for the three months ending September 30, as revenue faltered and the company’s margin fell, it said last week.

Sales decreased 37% to $611 million, as proceeds from both rough and polished diamonds declined. Rough sales slipped 37% to $601 million, while the average price for gem-quality diamonds slid 32% to $135 per carat, reflecting sales of a higher proportion of small-sized diamonds. Sales volume dropped 5% to 6.4 million carats.

“The diamond-jewelry demand was affected by increased macroeconomic uncertainty that put a damper on consumer confidence,” the company noted. “Amid the declining demand since the beginning of 2019, diamond-jewelry manufacturers and cutters have been actively reducing their stocks of end products and rough diamonds.”

Rough output grew 14% year on year to 12.1 million carats for the quarter, stemming from the launch of production at the Verkhne-Munskoye deposit, as well as higher production from the Botuobinskaya pipe.

In the first nine months of the year, the miner produced 29.7 million carats, up 12% year on year. Rough sales for the January-to-September period fell 34% to $2.39 billion.

Alrosa’s sales grew 9% year on year to $264.4 million in October, as prices and demand continued to stabilize, the miner noted. Rough-diamond sales increased 9% to $253.9 million for the month, while polished jumped 17% to $10.4 million.

However, despite the growth in October, weakness in the market affected the company’s ten-month total. In the first ten months of the year, sales fell 31% to $2.7 billion. Rough-diamond sales dropped 32% to $2.6 billion, with polished declining 43% to $47.2 million.

Image: Rough diamonds. (Alrosa)
Tags: Alrosa, Botuobinskaya pipe, Rapaport News, Verkhne-Munskoye
Similar Articles
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First



电洽: 1-702-893-9400
Member License Agreement   RapNet Trading Rules & Code of Conduct    私隐政策  
  
twitter twitter
关于 Rapaport
广告业务