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    ALRS   RU0007252813

PUBLIC JOINT STOCK COMPANY ALROSA

(ALRS)
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Public Joint Stock ALROSA : ALROSA takes steps to cater its clients demand

07/26/2021 | 07:48am EDT
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26 July 2021 - ALROSA remains committed to its strategy focused on maintaining a healthy balance in the diamond market, which faces supply shortages as jewellery demand keep recovering, while global diamond supply structurally decreased. A timely auction to sell diamonds from the Russian State Fund for Precious Metals and Stones (Gokhran) has supported the company's progress against this strategy.

Global diamond inventories dropped to their historic lows as a result of the structural decline in the global diamonds production starting from 2020. The market has been plagued by acute shortages of rough diamonds needed by cutters to complete their current polished diamonds orders, which have renewed their historical highs.

In anticipation of the next trading session scheduled for Monday, 26 July, ALROSA, acting for the benefit and on the instruction of its long-term customers, purchased some 70% of the diamonds offered by the Russian Ministry of Finance at an extra auction held on 23 July. The government decided to hold this auction to contribute to the market balance auctioning diamonds from Gokhran.

'Given a physical lack of diamonds in the market and mindful of all the pandemic-related challenges and restrictions, ALROSA elected to give comfort to members of ALROSA ALLIANCE, its long-term trusted customers, by purchasing the auctioned Gokhran diamonds as they asked. Still, even with this step we will be able to satisfy only some of the demand at the upcoming session. The government takes a very responsible approach to selling diamonds from Gokhran and only offers them against real demand. These diamonds are what the market needs right now, and they will soon move on to the cutting and polishing stage, which we believe will somewhat contribute to balance the market. I would also like to mention Gokhran's role in making this auction possible. Despite the tight schedule, they managed to do everything smoothly and without delay,' said Evgeny Agureev, Deputy CEO of ALROSA

ALROSA ALLIANCE brings together the company's long-term customers and those who are likely to become ones as they adhere to responsible business principles and have a proven track record as responsible buyers of rough diamonds. Traditionally, long-term contracts have accounted for about 70% of ALROSA's diamond sales.

Gokhran operates under the Ministry of Finance as a fund that includes precious metals and stones, as well as items made from them. As part of its activities, Gokhran buys and sells valuables, such as rough diamonds produced in Russia.

This page was last updated on 26 July 2021 at 14.38
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Disclaimer

ALROSA PJSC published this content on 26 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 July 2021 11:47:08 UTC.


ę Publicnow 2021
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Financials
Sales 2021 335 B 4 613 M 4 613 M
Net income 2021 113 B 1 557 M 1 557 M
Net Debt 2021 53 661 M 739 M 739 M
P/E ratio 2021 9,19x
Yield 2021 11,1%
Capitalization 1 010 B 13 941 M 13 923 M
EV / Sales 2021 3,18x
EV / Sales 2022 3,43x
Nbr of Employees -
Free-Float 39,9%
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Mean consensus OUTPERFORM
Number of Analysts 12
Last Close Price 140,09 RUB
Average target price 141,44 RUB
Spread / Average Target 0,96%
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Managers and Directors
Sergey Sergeevich Ivanov President, CEO & Deputy Chairman-Supervisory Board
Alexey Philippovskiy Chief Financial Officer
Anton Germanovich Siluanov Chairman-Supervisory Board
Aleksey Vasilyevich Trofimov Chief Investment Officer
Mariya Vladimirovna Gordon Senior Independent Member-Supervisory Board