ALROSA Q1 21e Earnings Preview - Sound FCF on the WC release and growing sales yoy
-Diamond sales volume up by 65% yoy in Q1 2021e, with more demand for smaller stones-As a result, the average price index down by 22% yoy in Q1 2021e, driven by the sales mix
-A steep hike in USD/RUB rate yoy in Q1 2021e suppressed costs and supported EBITDA/ct
-Solid NOCF and FCF on the shrinking inventory and advances from customers in Q1 2021e
AK Alrosa PAO. AK Alrosa PAO (Aktsionernaya kompaniya ALROSA PAO or ALROSA Company PJSC), formerly AK Alrosa OAO, is a Russia-based company which is principally engaged in the exploration, mining, manufacture and sales of diamonds. Its operations include five Integrated Mining and Processing Complexes: Mirny, Udachny, Aikhal, Anabar and Nyurba located in the Sakha Republic; sorting divisions and diamond cutting and polishing division. The Company is a member of variable diamonds associations. It operates through several representative offices, branches and subsidiaries, including Alrosa-Nyurba OAO, Almazy Anabara OAO and Severalmaz OAO.
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