ALROSA (ALRS) Q2 2024 earnings summary

Executive summary

• Interim financial statements for the six months ended 30 June 2024 were reviewed, with no material misstatements identified by the auditor.

• The statements are prepared to avoid disclosure of sensitive information that could harm the group or its counterparties.

• The group’s core business is diamond exploration, extraction, and sales, with state ownership exceeding 50%.

Financial highlights

• Revenue for H1 2024 was RR 179,468 million, down from RR 188,164 million year-over-year.

• Net profit for H1 2024 was RR 36,626 million, compared to RR 55,569 million in H1 2023.

• Basic and diluted EPS for H1 2024 was RR 5.06, down from RR 7.71 in H1 2023.

• Cash and cash equivalents at 30 June 2024 were RR 26,108 million, down from RR 36,437 million at year-end 2023.

• Total assets stood at RR 599,448 million as of 30 June 2024.

Outlook and guidance

• Management considers liquidity sufficient for sustainable operation despite ongoing sanctions and market volatility.

• No significant uncertainty regarding going concern for at least 12 months post-reporting date.