Rusolovo

Performance indicators

2023: Revenue growth by 5% to RUB 6.28 billion

In 2023, the revenue of PJSC Rusolovo, Russia's largest tin producer, amounted to approximately 6.28 billion rubles. This is 5% more compared to the previous year, when 6 billion rubles were received. Such data are given in the financial report released in mid-April 2024.

Sales growth was primarily due to an increase in the quantitative indicators of concentrate sales - from 9.94 thousand tons in 2022 to 11.97 thousand tons in 2023. A total of 6.37 thousand tons of tin, 5.35 thousand tons of copper and 0.25 thousand tons of tungsten concentrates were shipped. The total growth was recorded at around 20%.

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The report says that the sale of tin concentrate in 2023 brought 5.47 billion rubles in revenue against 5.5 billion rubles a year earlier. Sales of copper concentrate on an annualized basis increased from 443.07 million rubles to 648.66 million rubles, tungsten concentrate - from 50.77 million rubles to 159.27 million rubles. The sale of products was carried out in Russia and for export. At the same time, the volume of export revenue amounted to 45% in 2023 against 43% in 2022.

The value of tin concentrate in 2023 was determined on the basis of official quotes of metal tin on the London Metal Exchange: the sale price decreased by 7% on an annualized basis. Average sales prices for tungsten concentrate and copper-containing concentrate increased by 30% and 6%, respectively.

At the end of 2023, the company recorded a net loss of 1.63 billion rubles against losses of 667.35 million rubles a year earlier. On January 25, 2023, PJSC Rusolovo completed the procedure for splitting ordinary shares. As a result, the authorized capital of the company consists of ordinary registered shares in the amount of 30 001 000 000 pieces with a par value of 0.1 rubles each.^[1]

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