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Norilsk Nickel may earn less profit in 2013

According to the statement of Vladimir Potanin, the General Director of OJSC MMC «Norilsk nickel», his company has every chance of under-collection of about one billion dollars in revenue in the current year in view to falling metal prices.

Vladimir Potanin said that in the process of drawing up the company's budget for 2013 year prices were taken conservatively, based on the situation last year, which does not correspond to the average market data in the industry today. So, when planning for the current year, the average price for nickel was adopted at the level of 18.8 thousand. Dollars per ton. However, the LME is now a resource cost fluctuates at a mark of 14 thousand. Dollars per ton. «Today, only on nickel quotations dropped from the projected 20%; also significantly dropped the price, and other metals sold Corporation. All this can not affect the financial results of MMC «Norilsk Nickel» in 2013 «- describes the situation head of the enterprise.

Vladimir Potanin said that the decrease in revenue corporations, first of all, will have a negative impact on its shareholders to receive a much smaller amount of the dividends than expected. In earlier versions of management plans it appeared, that payments for 2012−2014, were to exceed nine billion dollars (in this case only in 2013 was planned to pay about three billion.).

Recall that in 2012 for MMC «Norilsk Nickel» is also not distinguished by positive dynamics in sales figures: for this period, the company reduced its revenue from last year's figures by 14.6% (up to 12.065 billion dollars in absolute terms.).

Low commodity prices — is not the only concern problem. General director of the company mentioned that, among other things, on the speed indicators corporations affect the decrease in production volumes steel plant in Norilsk. According to the MMC, slowing the release of metal here occurs because of problems with the supply of electricity. Vladimir Potanin, in an interview said that in 2013 the region's rivers, where the plant was observed critically low water level due to the small amount of winter snow and small floods. As a result — the plant is experiencing some shortage of electric power. «We developed measures to combat this problem. Working Group creates a list of measures to ensure uninterrupted supply, and the city, and factory electricity, but the losses and disruptions in production plans are inevitable, «- says CEO of» Norilsk Nickel «.

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