Rusal increased aluminium productiuon 1% up
* Revenue increased by 18.8% to USD6,323 million in the first half of 2011, as compared to USD5,321 million for the first half of 2010, mainly due to increased prices and improved product mix.
* Adjusted EBITDA increased by 7.5% to USD1,425 million for the first half of 2011, as compared to USD1,325 million for the first half of 2010, representing Adjusted EBITDA margin of 22.5% keeping the best position in industry.
* Adjusted Net Profit[1], which is a measurement of the profitability of the Company’s core business and provides the investment community with a more relevant and fair indicator of the operational and financial performance for reported periods, increased by 24.5% to USD559 million, as compared to USD449 million for the first half of 2010.
* Net profit of USD1,085 million for the first half of 2011 decreased by 20.5% as compared to net profit of USD1,365 million for the first half of 2010, due to certain non-cash items, mainly increase in the effective interest charges on restructured debt and decrease in net share in results of Norilsk Nickel.
* Total aluminium output amounted to 2,023 thousand tonnes in the first half of 2011, representing an increase of approximately 1%, as compared to that of the first half of 2010.
* Record high share of value-added products output demonstrating 37% of total aluminium production in the first six months of 2011 in comparison with 29% for the first half of 2010.
* Alumina output totalled 4,025 thousand tonnes in the first half of 2011, representing an increase of approximately 8%, as compared to that of the first half of 2010.
* Bauxite production totalled 6,617 thousand tonnes in the first half of 2011, representing an increase of approximately 23%, as compared to that of the first half of 2010.
* In the first six months ended 30 June 2011, the Company reduced its debt under its restructuring agreements by USD1.67 billion by way of repayment out of the proceeds from the Russian Ruble denominated bonds issue in March and April 2011 and more than USD0.6 billion out of cash flow of the Company.
* Banks mandated to arrange up to USD4.75 billion finance facility, which may potentially be increased to up to USD5 billion upon agreement with the lenders providing the facility to the Company.
* The maturity of the USD4.58 billion Sberbank facility (the debt initially owed to VEB and refinanced by Sberbank) was agreed to be extended from December 2013 to August 2016. Simultaneously, the interest rate was agreed to be reduced to one-year LIBOR+4.5% and the VEB guarantee was terminated.
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