Norilsk Nickel Harjavalta Oy

Type: Company
Name: Norilsk Nickel Harjavalta Oy
First reported Apr 07 2014 - Updated Apr 08 2014 - 1 reports


MMC NORILSK NICKEL REPORTS FULL YEAR 2013 AUDITED CONSOLIDATED IFRS FINANCIAL RESULTSMoscow, April 7, 2014 - OJSC MMC Norilsk Nickel ("Norilsk Nickel", the "Company" or the "Group"), the largest nickel and palladium producer in the world, today reports ... [Published Investegate - Apr 07 2014]


Vladimir Potanin, Chief Executive Officer of Norilsk Nickel, commented: "Last year was a challenging and volatile year in commodity markets with prices for the majority of metals in Norilsk Nickel portfolio declining that had a clear impact on our top-line performance. Despite this environment, the Company managed to sustain world-class profitability with a full-year EBITDA margin of 37%. Two cornerstones of our new strategy are capital efficiency and focus on free cash flow generation; both of these played a key role in delivering a strong result for our shareholders. Restructuring of working capitalcapital management allowed us to reduce net working capital by USD 1.1 billion. We also stayed firmly on target with our USD 2 billion capex guidance through considerably tighter investment controls and spent USD 724 million less than in 2012. These two factors resulted in an almost five-fold year-on-year increase in free cash flow generation to USD 2.4 billion."

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MMC Norilsk Nickel : MMC NORILSK NICKEL REPORTS... [Published Investegate - Apr 07 2014]
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