PJSC ALROSA announced earnings results for the first quarter of 2018. For the quarter, the company’s revenue rose by 58% quarter over quarter to RUB 96 billion, driven by an improved product mix and higher average selling prices. EBITDA grew by 78% quarter over quarter to RUB 48 billion mainly driven by an upward trend in revenue and cost control initiatives. The company’s net profit amounted to RUB 33.2 billion, up 2 times quarter over quarter. Free cash flow rose 3.5 times quarter over quarter, reaching RUB 41.1 billion in first quarter of 2018. ALROSA’s net debt for the quarter fell 4.6 times to RUB 18.6 billion on the back of stronger free cash flow and proceeds from the sale of its gas assets.