Earnings Report /
Russia

Nornickel: 1H21 IFRS review – EBITDA beats consensus; neutral-to-positive

  • Nornickel (MNOD: LI; O/W; TP $40.6/GDR) reported its 1H21 IFRS financials

  • Consolidated revenue almost hit a record $9 bn while increasing by 33% y/y

  • The nickel outlook is neutral in the short-term, but more positive longer-term

Boris Krasnozhenov
Boris Krasnozhenov

Head of Research (Managing Director)

Yulia Tolstykh
Yulia Tolstykh

Analyst, Metals & Mining

Alfa
5 August 2021
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