2010 Was a Great Year for Alrosa, Looking Ahead to an IPO

Diamond sorting at Alrosa. Production, sales and revenues are up

(IDEX Online News) – Alrosa's 2010 revenues increased 45% to 113.39 billion rubles ($4 billion) the company said on Tuesday. The growth in sales, which include rough and polished goods, reflects rising prices and volumes as global demand for diamonds is rising.

Net profits soared 240% to 11.79 billion rubles ($416.3 million), while operating profit of 27.138 billion rubles ($958.2 million) grew by 16%.

Alrosa’s production was up 5% to 34.3 million carats. Selling some of the stock it accumulated during the crisis, diamond sales outpaced production, 39.5 million carats, a 50.8% increase.

On its way to an IPO, Alrosa is tearing off some of the secrecy shrouding the company. Its reserves are estimated at 1.3 billion carats, with the ore’s contents estimated at 0.81 carats per tonne.