The revenue of the Russian aluminum giant UC RUSAL rose by 19.5% YoY, to $2.744 billion in January-March, the company said on May 11.
Adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) grew by 20.4%, to $572 million.
RUSAL also said that its previous forecasts for its operations were already irrelevant due to the U.S. sanctions.
“In present circumstances any forecast or outlook made or previously made should be deemed unreliable and may become irrelevant due to ongoing developments on the market at this period of time,” the company noted.
The company continues to believe that the impact of the sanctions could be materially adverse to the business. “The company’s primary focus remains on the maintenance of its operations and the protection of the interests of all of its creditors, investors and shareholders.” (Prime/Ukrainian metal)