Annual Report 2020 Annual Report 2020 20 Years Moving Forward
20 YEARS MOVING FORWARD ANNUAL REPORT 2020 ANNUAL REPORT 2020 20 YEARS MOVING FORWARD Contents Financial and Production Indicators 2 General Information on the Company 6 Chairman’s Statement 14 General Director’s Review 18 Business Overview 22 Management Discussion and Analysis 48 Profiles of the Board Members, the General 86 Director and Senior Management Report of the Board of Directors 102 Corporate Governance Report 150 Financial Statements 166 Glossary 260 Appendix A 270 Principal Terms of the Shareholders’ Agreement with the Company Appendix B 274 Principal Terms of the Shareholders’ Agreement between Major Shareholders only Appendix С 280 Report on Compliance with the Russian Corporate Governance Code Appendix D 308 Information on material transactions concluded by the Company and its significant subsidiaries in 2020 Information on the Company 314 Annual report RUSAL 2020 Leading THE INDUSTRY 01. FINANCIAL AND PRODUCTION INDICATORS 2 3 Annual report RUSAL 2020 FINANCIAL AND PRODUCTION INDICATORS USD million (unless otherwise specified) 2020 2019 2018 2017 2016 Revenue 8,566 9,711 10,280 9,969 7,983 Adjusted EBITDA 871 966 2,163 2,120 1,489 Adjusted EBITDA Margin 10.2% 9.9% 21.0% 21.3% 18.7% EBIT 279 87 1,481 1,523 1,068 Share of Profits from Associates and 976 1,669 955 620 848 Joint Ventures Pre-Tax Profit 716 1,054 1,953 1,288 1,354 Profit 759 960 1,698 1,222 1,179 Profit Margin 8.9% 9.9% 16.5% 12.3% 14.8% Adjusted Net (Loss)/Profit 60 (270) 856 1,077 292 Adjusted Net (Loss)/Profit Margin 0.7% (2.8%) 8.3% 10.8% 3.7% Recurring Net Profit 990 1,273 1,695 1,573 959 Basic Earnings Per Share 0.050 0.063 0.112 0.080 0.078 (in USD) Total Assets 17,378 17,814 15,777 15,774 14,452 Equity Attributable to Shareholders of 6,543 6,747 5,209 4,444 3,299 the Company Net Debt 5,563 6,466 7,442 7,648 8,421 4 FINANCIAL AND PRODUCTION INDICATORS 5 Annual report RUSAL 2020 Uniting PEOPLE ACROSS CONTINENTS 02.
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