United Company RUSAL Plc reported unaudited consolidated earnings and operating results for the first quarter ended March 31, 2013. Revenue in the first quarter of 2013 increased to USD 2,682 million (by 2.2%) as compared to USD 2,624 million for the fourth quarter of 2012 due to historically high premiums over LME aluminium price of USD 264 per tonne and improvement of the product mix offsetting a 1.7% decrease in physical aluminium sales while the metal price on LME was almost flat as compared with the last quarter of the preceding year and USD 2,882 million in the first quarter 2012. The company recorded a net profit of USD 19 million for the quarter ended March 31, 2013, as compared to USD 56 million for the same period of 2012. Adjusted EBITDA comprised USD 246 million for the first quarter of 2013 demonstrating an increase of 11.3% as compared to the fourth quarter of 2012 in line with the industry best producers reflecting stronger revenue and lower operating expenses despite negative effect from appreciating local currency and USD 237 million in the first quarter 2012. Net cash flows generated from operating activities were USD 84 million against USD 350 million of prior year period. Results from operating activities decreased in the first quarter of 2013 by 13.5% to USD 64 million, as compared to USD 74 million for the corresponding period of 2012, representing operating margins of 2.4% and 2.6%, respectively. Adjusted net loss was USD 47 million against USD 90 million of prior year period. Total capital expenditure was USD 110 million against USD 126 million of prior year period. Recurring net profit was USD 52 million against USD 94 million of prior year period. Primary aluminium production in the first quarter of 2013 decreased by 4.0% or by 42,000 tonnes to 1,007,000 tonnes compared to the first quarter of 2012 or by 3.0% or by 31,000 tonnes compared to the fourth quarter of 2012 reflecting the launch of capacity curtailments program and was mostly attributable to the decreased production at certain less efficient smelters located in European part of Russia and Urals. Alumina produced was 1,811,000 tonnes versus 2,034,000 tonnes of prior year period demonstrating a decrease of 11.0%. The reduction was predominantly attributable to Friguia Alumina Refinery (Guinea) with operations interrupted in April 2012. Sales of primary aluminium and alloys were 994,000 tonnes versus 1,095,000 tonnes. Alumina price per tonne was USD 340 versus USD 316. Bauxite production for the quarter ended March 31, 2013 was 2,809,000 tonnes as compared to 3,622,000 tonnes for the first quarter of 2012, demonstrating a 22.4% reduction. The main factor of this decrease over the reported periods was reduced mining operations at Friguia Alumina Refinery (Guinea).

United Company RUSAL Plc, Q1 2013 Earnings Call, May 14, 2013

United Company RUSAL Plc announced audited consolidated earnings results for the full year ended December 31, 2012. For the year, the company's net loss attributable to shareholders of the company was $337 million or $0.022 basic and diluted loss per share against net profit attributable to shareholders of the company of $237 million or $0.016 basic and diluted earnings per share a year ago. Revenue was $10,891 million against $12,291 million last year. Results from operating activities were $60 million against $1,749 million last year. Loss before taxation was $311 million against profit before taxation of $610 million a year ago. Net cash generated from operating activities was $1,092 million against $1,781 million a year ago. Acquisition of property, plant and equipment was $486 million against $608 million a year ago. EBIT was $60 million against $1,749 million a year ago. Adjusted EBITDA was $915 million against $2,512 a year ago. Adjusted net loss for the period was $498 million compared to adjusted net profit of $987 million for the last year. Recurring net loss was $8 million against recurring net profit of $1,829 million a year ago. Net Debt as on December 31, 2012 was $10,829 million against $11,049 million as on December 31, 2011.