RusAl posts $868 mln in net losses for H1, net profit for 2009 forecast at no less than $434 mln
MOSCOW. Dec 31 (Interfax) - UC RusAl posted $868 million in net losses for the first half of 2009 compared to $1.4 billion in net profit for the same period fo 2008, the aluminum company said in the prospectus of its recently announced IPO on Thursday.
For 2009, the company hopes to post profit coming to no less than $434 million.
RusAl's sales revenue for the first half fell to $3.75 billion from $8.35 billion posted in the same period of 2008.
The company's cash flow from operations in January-June was negative at minus $232 million compared to $1.878 billion in the same period of 2008. RusAl's EBITDA came to minus $144 million against plus $2.585 billion for the same period of 2008. The company's EBITDA margin stood at minus 3.8% against 30.9% a year ago.
RusAl's net debt as of June 30, 2009 came to $13.42 billion, practically unchanged from $13.02 billion posted on the same date in 2008.