VSMPO-AVISMA Reports Slight Increase in Net Profit for First Half of 2024

VSMPO-AVISMA, a leading titanium producer, has reported a 0.4% increase in net profit for the first half of 2024, reaching 12.39 billion rubles ($133 million). This modest growth comes despite significant increases in revenue across its operations, as detailed in the company's financial statements.

The company's total revenue grew by 9.6%, reaching 59.61 billion rubles ($641 million). Specifically, revenue from the sale of goods rose by 9.9% to 53.21 billion rubles ($572 million), while revenue from services increased by 14.8% to 1.1 billion rubles ($11.8 million).

VSMPO-AVISMA also reported a significant uptick in its investment activities. As of June 30, the company had signed contracts for the purchase of machinery and equipment totaling 6.49 billion rubles ($70 million), representing a 33.4% increase compared to the whole of 2023.

On the liabilities side, the company's short-term obligations rose by 3.3% to 128.99 billion rubles ($1.39 billion), while total liabilities decreased by 4.8% to 206.37 billion rubles ($2.22 billion).