MOSCOW: Russian aluminium giant Rusal is expected to report a 45 percent rise in fourth-quarter core earnings, helped by higher aluminium prices, according to a Reuters survey of analysts at six banks.
Fourth-quarter earnings before interest, tax, depreciation and amortisation (EBITDA) are expected to rise to $598 million from $412 million a year earlier.
Hong-Kong listed Rusal is likely to post free cash flow of $302 million, analysts at Aton said in a note. However, they added that the effect from strong financial results could be limited by news about a power struggle at Russian mining company Norilsk Nickel, in which Rusal owns a stake.
The struggle over Nornickel resurfaced on Feb. 16 as billionaire Vladimir Potanin offered to buy Roman Abramovich’s stake in the group and Rusal tried to block the deal.
Source: Brecorder.com
