During the quarter, the miner generated 43% increase in revenues to RUB56.3bn ($1.65bn) driven by rough diamond sales volume and the weakening of Russian currency. Diamond sales increased 23% to 12.7 million carats.
EBITDA increased 1.6 times compared with Q1 2013 and reached RUB26.1bn ($768.5m) driven by an increase in gross profit from diamond sales; EBITDA margin increased to 46%.
Alrosa CEO Fyodor Andreev said: "Positive market dynamics in Q1 2014 allowed ALROSA to deliver record-high financial results, that have enabled ALROSA capitalization growth of 20% since the SPO on MICEX in 2013."
Belgium accounted for more than half of diamond sales during the quarter, the Russian Federation with about 19%. Approximately 15% sales were from India and about 10% from Israel-based companies.
As of 24 June, the company has increased its bank loans and public debts to $4.2bn, to support the $500m Eurobond repayment in the fourth quarter of 2014, reported Reuters.
