United Company RUSAL Plc (00486) said revenue in the nine months of 2019 dropped by 8.8% to USD7,222 million as compared to USD7,915 million for the same period of 2018 following the decrease in the LME aluminium price by 16.4% to USD1,804 per tonne as compared with USD2,158 per tonne for the comparable period, which was partially offset by a 9.8% increase in primary aluminium sales volume.
EBITDA in the third quarter of 2019 decreased to USD237 million representing a decline of 64.9% from USD676 million for the corresponding period of 2018. This decrease was driven by negative macroeconomic factors that were partially offset by improvement in cash cost by 3.7% to USD1,612 per tonne in the third quarter of 2019 from USD1,674 per tonne in the previous quarter of the year resulting from decrease in electricity and other raw material prices.
The company recorded a profit of USD819 million for the nine months ended 30 September of 2019, a year-on-year decrease of 47.1%.
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