OREANDA-NEWS. Chelyabinsk Zinc Plant, Russia's largest producer of zinc and zinc alloys, is pleased to announce its consolidated financial results for the nine months ended September 30, 2015 based on consistent accounting policy.

9M 2015 consolidated revenue increased by 65% to RUB 18,291 mln as compared to 9M 2014.

The average LME zinc price in 9M 2015 decreased by 5% as compared to the relevant period of the previous year and amounted to US$ 2,035/tonne. The average LME lead quotes decreased by 14.6% to US$ 1,818 /tonne. Positive effect on revenue was made by the growth of exchange rates (US Dollar, Pound Sterling, Kazakhstan Tenge) against the Russian Rouble.

In 9M 2015, revenue of CZP increased by 61% as compared to 9M 2014 and amounted to RUB 13,521 mln (9M 2014: RUB 8,417 mln). The growth of revenue was due to 67.5% increase of US dollar/Russian Rouble exchange rate (9M 2015: RUB 59.3; 9M 2014: RUB 35.4), increase of sales on the domestic market and export by 37% (9M 2015: 93.2 thousand tonnes; 9M 2014: 68.1 thousand tonnes) and sales of precious metals (in 9M 2014 there were no sales).

Revenue of The Brock Metal Company Limited for 9M 2015 amounted to RUB 4,340 mln, 87% higher than in 9M 2014 (RUB 2,325 mln). This increase was due to 54% growth of Pound Sterling/Russian Rouble exchange rate (9M 2015: RUB 91.4; 9M 2014: RUB 59.2) and 19% growth of zinc alloys sales (9M 2015: 28.7 thousand tonnes; 9M 2014: 24.2 thousand tonnes).

Revenue of Nova Zinc for 9M 2015 increased by 34% compared to 9M 2014 and amounted to RUB 430 mln (9M 2014: RUB 322 mln). The increase was due to 53% growth of Kazakhstan Tenge/Russian Ruble exchange rate (9M 2015: RUB 0.305; 9M 2014: RUB 0.2).

Net profit for 9M 2015 totalled RUB 4,120 mln compared to RUB 1,637 mln for 9M 2014. The main factors of net income growth were the Russian Rouble devaluation, growth of zinc and zinc alloys domestic and export sales, sales of precious metals and also thereversal of previously accrued impairment loss of LLP "Nova Zinc" property, plant and equipment.