VSMPO-AVISMA Reports Higher Revenue But Lower Financial Results in First Half of 2024

VSMPO-AVISMA Corporation announced an 11.1% increase in revenue for the first half of 2024, totaling 51.219 billion rubles ($563.409 million) compared to the same period last year. However, the cost of sales surged by 31.7%, reaching 34.808 billion rubles ($383.348 million).

The company's total financial result for the period significantly declined, amounting to 8.144 billion rubles ($89.584 million), down 44% from 14.614 billion rubles ($160.754 million) in the first half of 2023. Other income dropped 1.8 times to 13.376 billion rubles ($147.136 million), while other expenses were halved to 9.869 billion rubles ($108.559 million).

The statements did not provide data on net profit.

Additionally, VSMPO-AVISMA's accounts payable increased from 35.31 billion rubles ($388.41 million) as of December 31, 2024, to 49.143 billion rubles ($540.573 million) as of June 30, 2024. Accounts receivable rose from 75.47 billion rubles ($829.297 million) to 81.509 billion rubles ($895.599 million) during the same period.

VSMPO-AVISMA, a leader in titanium production, operates a full technological cycle, from raw material processing to the manufacture of finished titanium products with a high degree of mechanical processing. The company has not provided updated information about its shareholders on its website.