Russia’s largest zinc producer, Chelyabinsk Zinc Plant, saw first quarter net profit fall 42 percent year-on-year to 271 million rubles ($8.32 million) to IFRS, the firm said in a statement on Friday.
The company’s first quarter EBITDA decreased 31 percent to 531 million rubles with revenue grew five percent to 3.256 billion rubles.
“The average LME zinc price in the first quarter of 2012 decreased by 15 percent as compared to the relevant period of the previous year and amounted to $2,025/ton. The negative effect of the LME prices falldown was slightly compensated by the 3.4 percent growth of Russian Ruble/US Dollar average exchange rate,” the company said.
The company’s common shares are listed on the MICEX-RTS stock exchange in Russia, as well as on the London Stock Exchange as Global Depositary Receipts.