Russia's Norlisk Profit Down 64.3% in 2013 Due To Slump in Nickel-Ore Price

ISTANBUL--April 9, 2014--Researched by Industrial Info Resources (Sugar Land, Texas)--Russia's OAO GMK Norilsk Nickel (Norilsk, Russia)(OP:NILSY), the world's largest nickel producer, has reported a sharp drop in 2013 profits after prices fell and the company wrote down the value of some assets. According to a filing, the company's net income dropped 64% to $2.17 billion. Sales dropped 7.1% to $11.5 billion, while earnings before interest, depreciation and amortization (EBITDA) declined 15% to $4.2 billion, slightly above market consensus of $4.1 billion.