Rusal Posts $196 Million First-Half Profit as Aluminium Prices Rebound
Rusal swung to a $196 million first-half adjusted net profit, reversing a year-ago loss, as aluminium prices and premiums surged.
Russian aluminium producer Rusal has reported a first-half adjusted net profit of $196 million, a sharp turnaround from a loss of $194 million in the same period last year. The company, the world's largest aluminium producer outside China, credited higher aluminium prices and record premiums in several markets for the improvement.
Revenue for the six months ended June 30 rose 10.9% to $8.34 billion, while total sales costs increased 3.3% to $6.31 billion, driven largely by higher energy expenses.
Chairman Bernard Zonneveld noted that aluminium prices climbed to four-year highs within a couple of months before retreating to their starting point. He added that in many markets where Rusal is a reliable supplier, aluminium premiums reached historic levels.
The company said it views the recent increase in electricity tariffs as temporary and expects tariffs to stabilise in the medium term. However, Rusal warned that if electricity prices rise to the average levels of the first half of 2026, with other variables unchanged, it would recognise an impairment charge in its consolidated financial statements.