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Home > Diamond News Center > Diamond News > Financial News

Alrosa’s Revenue Jumps 41% to $5.4 Billion in 2016 over Diamond Market Recovery

/ Financial News

Alrosa  Enlarge
207 carat diamond
The world’s largest diamond miner by volume has had a very good year: Russia miner Alrosa has announced the results for 2016 IFRS (International Financial Reporting Standards), showing a 41% jump in revenue to 317.1 billion rubles ($5.4 billion).

Meanwhile, Alrosa’s net income quadrupled to 133.5 billion rubles ($2.25 billion). The company’s free cash flow surged threefold to 111.4 billion rubles ($1.9 billion).

Alrosa’s Chief Financial Officer Igor Kulichik said: “2016 was a year of active recovery in the diamond market following the decline of 2015. The Company managed to deliver record-high financial performance and generate net cash flow sufficient to repay short-term and medium-term liabilities and pay out dividends to shareholders".

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