March 7, 2019 / 12:24 AM / 4 months ago

Rusal says Q4 adjusted net loss at $17 mln vs profit in Q3

HONG KONG/MOSCOW, March 7 (Reuters) - Russia’s Rusal , the world’s largest aluminium producer outside China, posted a fourth-quarter adjusted net loss of $17 million on Thursday, compared with a $338 million profit in the previous quarter.

It posted a $350 million profit in Q4 in 2017.

The company said its fourth-quarter adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) fell 38.1 percent from the year ago period to $363 million, while revenue was down 13.8 percent year on year to $2.37 billion.

A lot has changed for the Hong Kong-listed company since the three months represented in these results, however. In January, the U.S. Treasury lifted sanctions that have been imposed on Rusal since April 2018.

Writing by Polina Ivanova; editing by Richard Pullin

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