Wednesday, July 4 2018 15:45

ArmInfo.The company "RusAl Armenal" increased its revenue by 31.5% in 2017 to 49.7 billion AMD. The cost price increased by 27.8% to 43.7 billion AMD. As a result,  the gross profit of the company increased by 67.5% to 6.031 billion  AMD. According to the published annual financial report of CJSC RusAl  Armenal, the balance (pre-tax) profit increased by 54.3% to 2.3  billion in 2017, which after deduction of profit tax provided net  profit of 1.5 billion AMD with an annual growth of 33, 4%.

Assets of "RusAl Armenal" increased by 2.6% in 2006 to 46.7 billion  AMD, in particular, current assets - by 5.4% to 17.9 billion, and not  current assets - by 1.1% to 28.8 billion. In the structure of current  assets, inventories increased by 7.9% to 13.6 billion, while the main  item in non-current assets - fixed assets underwent a meager growth -  by 0.7% to 27.3 billion.

The total liabilities of "RusAl Armenal" decreased by 1.1% to AMD  36.5 billion in 2017 due to the recession of non-current liabilities  by 17.1% to AMD 4.031 billion, while the current liabilities grew by  1.5% to 32.5 billion. In the structure of current liabilities, loans  and other borrowings increased by 7.8% to 15.999 billion AMD.

Accounts payable of the company decreased by 12.1% to 16.7bln AMD for  the period of 2017, and accounts receivable - by 2.3% to 4.3bln AMD.

Own capital of "RusAl Armenal" increased in the reporting year by  18.6% to 10.2 billion drams. In its structure, the share capital did  not change - 36.7 billion drams, and the accumulated loss reduced by  2.6% to 55.2 billion drams. (The calculated exchange rate of the dram  to the dollar as of December 31, 2017 was 484.10 AMD/USD1).

Audit of the annual financial report of "RusAl Armenal" CJSC was  conducted by KPMG Armenia. The auditor in his conclusion draws  attention to the impact of US sanctions against the owner of the  company (Oleg Deripaska - ed.). Recall that the US expanded its  anti-Russian sanctions on April 6 this year. Then the Ministry of  Finance of the country presented a list, which included 24  businessmen and officials, as well as 14 companies. Among them were  Oleg Deripaska and RUSAL. Later, the US postponed the imposition of  sanctions against RUSAL after the requests of US companies, said in  May this year. president of the American Chamber of Commerce in  Russia (AmCham) Alexis Rodzianko. The decision to postpone the  sanctions against RUSAL was probably taken after Washington's talks  with representatives of the business of the United States, said A.  Rodzianko. According to him, the restrictive measures against the  Russian aluminum producer are causing greater damage to the US  economy than to Oleg Deripaska, the head of the company, who was on  the Sanctions list of the White House.

The Yerevan Foil Rolling Plant "RusAl Armenal" was created by RUSAL  in May 2000 on the basis of the Kanaker Aluminum Plant. It is one of  the largest industrial enterprises in Armenia and the only producer  of aluminum foil in the Caucasus and Central Asia. Together with the  factories SAYANAL, "Ural Foil" and "Sayanskaya Foil" forms the  Packaging Division of RUSAL.