The company reported that its operational and financial performance came under pressure as domestic lending conditions tightened and the rouble strengthened by nearly 23 per cent, driving up profit tax expenses. A 2.4-fold increase in interest expenses also weighed on results.
The impact of these factors was partially offset by a slight increase in global aluminium demand and generally positive price trends. H1 2025 revenue rose by USD 1,825 million, or 32 per cent year-on-year, to USD 7,520 million from USD 5,695 million in H1 2024, driven by a 21.7 per cent increase in primary aluminium and alloy sales through inventory drawdowns, and a 6.7 per cent rise in the weighted average selling price per tonne to USD 2,610 from USD 2,447 in H1 2024.
Costs and premiums under pressure
Total cost of sales in H1 2025 jumped by USD 1,725 million, or 39.3 per cent year-on-year, to USD 6,110 million, up from USD 4,385 million a year earlier, driven by higher alumina and other material costs, as well as increased power and transportation tariffs.
