August 29, 2013 / 10:11 AM / 4 years ago

Russia's Norilsk H1 net profit falls due to write-offs

MOSCOW, Aug 29 (Reuters) - Russia’s Norilsk Nickel , the world’s top nickel and palladium miner, said on Thursday first-half net profit fell 63 percent, year-on-year, due to write-offs mainly related to its investment in energy group InterRao.

Norilsk’s six-month earnings fell to $545 million, impacted by $636 million of non-cash write-offs. Profit excluding the write-offs amounted to $1.2 billion, in line with analyst forecasts.

First-half revenue fell 6 percent to $5.6 billion, while earnings before interest, taxation, depreciation and amortisation (EBITDA) were down 8 percent at $2.3 billion, Norilsk said in a statement. (Reporting by Polina Devitt, Alessandra Prentice; Editing by Maria Kiselyova; Editing by Douglas Busvine)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below