Profit of Rusal highly increased in Q3 2011
The largest aluminum producer in the world - Russian company Rusal, today announced better than expected results in the third quarter. This happens despite the deteriorating prospects for the global economy, pushing down the price of aluminum. In the third quarter of 2011 Rusal profit amounted to 432 million dollars after the same period of last year's positive result was much more modest - 29 million USD. Net profit adjusted for the share in Norilsk Nickel capital increases from 143 to 290 million USD. A positive result before interest, taxes, depreciation and amortization increased by 25% yoy to 705 million dollars in preliminary expectations of analysts for 661 million USD.
"The global automotive market remains a key driver for the increase in demand for aluminum. The construction sector remained weak in the leading economies, except China, and manufacturing of aluminum products in Europe is slowing", explains in communique the business managements of Rusal. The company predicts that by 2011 demand for aluminum will increase by 13% over the previous year and will reach 46 million metric tons. The current price of aluminum is about 2160 dollars per metric ton. This is a decrease of about 25 per cent peak this year, reached in May.
Daimler with 4.5 billion EUR profit for 2010
The German carmaker Daimler announced a profit of 1.05 billion for the fourth quarter of 2010, the AP transmits. For the same period last year, the company had a loss of EUR 348 billion. With a major contribution to improvements result was revenue growth, which increased by 24 per cent yoy to 24.6 billion. Aid for better sales had market in China, which is a key driver of the increase. From Daimler stated that for the whole year 2010 has achieved a profit of 4.5 billion. This is much better than loss of EUR 2.64 billion recorded for 2009. The company plans this year to distribute dividends after last year's dividend payments have been canceled. Management of the company predicted that 2011 earnings will rise by more "moderate pace", while profit before accounting for taxes would "significantly exceed" levels by 2010. With great contribution to improving the German company is the China's market, which is highly developing market and offers good abilities for all the sellers.
3М with positive financial report
The season records in the U.S. continues in full swing, and today many of the leading companies on Wall Street to announce its results for the last three months of 2010. Among them is the company 3M, part of the index of blue chips in the U.S. Dow Jones Industrial Average. The results of 3M hyssop successive contradictory data, revenue and profit of the company proved to be higher than expectations, but profits are weaker than last year. Moreover, executives of the company announced a higher forecast performance during the fiscal year. In the fourth quarter of 2010 profit by 3M estimated at 928 million dollars or 1.28 dollars per share. This is a decline of 1 percent annually, after the same period of 2009, profit was 935 million dollars, or 1.3 dollars per share. The company's sales have increased by 10 percent to 6.71 billion dollars. The peliminary estimates of analysts was for profit of 1.27 dollars per share, based on profits from 6.62 billion dollars. The company announced a new forecast for fiscal 2011, which is to win within the 5.95 to 6.20 dollars per share. 3M have known quite well in the field of electronics, where sales growth of 20 per cent. Increase of 10 percent is in the automotive and aerospace manufacturing activities.
Rosneft increased with 19% the net profit for the quarter
The Russian Rosneft state oil company, which is the largest in Russia in the industry, increased its net profit for the first quarter on an annual basis by 19.4 percent to nearly 2.45 billion dollars, said in a statement. Estimates are under U.S. accounting standard. Rosneft is one of three Russian companies, which generally have 51 percent share of the project pipeline Burgas-Alexandroupolis. Gross profit of Rosneft (before payment of income tax, depreciation and interest on loans) for January to March compared to the same period last year almost doubled to over 4.44 billion dollars. The big difference in the growth rate of gross and net profit of Rosneft explained mainly by exchange rate changes and increases in taxes and transit fees to transport oil. The company at the same time explain that they are able to optimize costs. For the first quarter Rosneft increased its average daily oil production by 8.4% yoy to about 2.29 million barrels. Production of petroleum products has increased by 4%, January-March 2010 it was 12.1 million tonnes.
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