MOSCOW, August 27 (RIA Novosti) - Russian aluminum giant RUSAL expects the second half of 2014 to see its EBITDA in excess of $600 million at current aluminum price levels, with the company’s annual EBITDA totaling more than $990 million, according to the company’s first half results.
The RUSAL management expects further improvement of margins and profits in the second half of the year at current aluminum prices. The capex in 2014 is estimated to be $500-600 million. Aluminum production is expected at 1.8 million tons.
Half of the planned new capacity measures were commissioned during the first half of the year, and a significantly slower growth is predicted for the second half of 2014.
The company notes that its market outlook remains largely unchanged, apart from slight improvements in the second half of the year due to seasonal fluctuations of demand.
The Adjusted EBITDA of RUSAL decreased by 6.4 percent to $393 million in the first half of 2014, compared to $420 million for the corresponding period in 2013. Adjusted EBITDA margin improved to 9 percent in 2014 from 8.1 percent in 2013. The gross profit for the first six months of 2014 stood at $728 million.
