Aluminum producer RUSAL’s revenue for the year that ended December 31, 2019, decreased by 5.5% to $9.71 billion as compared to $10.28 billion for 2018.
The company said the decrease in the price for aluminum in the last year was partially offset by the 13.8% increase in sales of primary aluminum and alloys in 2019 as compared with 2018.
“It is no understatement to say that during the last year, both RUSAL and the whole industry witnessed a variety of challenging conditions that included the average LME aluminum price slumping by more than 15%, which contributed to our annual revenue decrease, as compared with the 2018 results,” CEO of RUSAL Evgenii Nikitin said. “The situation was aggravated by the missed mating season that was the result of the OFAC sanctions.”
