Public stock VSMPO AVISMA : VSMPO – AVISMA Corporation announces IFRS 1H 2021 Financial Results

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Public Stock Company VSMPO - AVISMA Corporation, the world's largest manufacturer of titanium and titanium alloys products, and its subsidiary companies (hereinafter referred to as 'Group') has published the interim condensed consolidated financial statements for the six months ended 30 June 2021 prepared in accordance with International Financial Reporting Standard 34 'Interim Financial Reporting' (IAS 34). Review was performed by JSC 'KPMG'. MARKET OVERVIEW In the first half of 2021, there were no significant changes in the global air transport market. The demand for titanium products in the aircraft and engine building sectors has stabilized. The demand in the industrial market remains at pre-crisis levels. The coronavirus pandemic does not significantly affect the consumption of titanium in the Russian Federation and the consumption remains at a stable level. KEY OPERATIONAL INDICATORS OF 1H2021 as compared to the same period of 2020 Due to the COVID-19 pandemic, air passenger traffic dropped significantly in the second quarter of 2020. As a result, aircraft producers revised their production and sales plans, which negatively affected Corporation sales starting from Q2 2020. Sales volume of titanium products reduced by 21% to 11,1 thousand tons Sales volume of ferrotitanium increased by 25% to 4,5 thousand tons Sales volume of aluminum increased 71% to 1,5 thousand tons tons, unless otherwise stated 1H2021 1H2020 Sales volume of titanium products - TOTAL 11 119 14 150 - titanium products ( export ) 6 921 10 212 - titanium products ( Russia + CIS ) 4 199 3 938 Sales volume of ferrotitanium 4 520 3 610 Sales volume of aluminum 1 477 862 KEY FINANCIAL INDICATORS OF 1H2021: as compared to the same period of 2020 Revenue decreased by 19% to US$ 552,9 million Adjusted EBITDA decreased by 8% to US$ 229,2 million Adjusted EBITDA margin increased to 41% Net debt decreased by 25% to US$ 594,5 million Net debt/EBITDA¹ ratio decreased to 1,35х Capital costs volume decreased by 25% to US$ 47,7 million USmce_markernbsp; million , unless stated otherwise 1H2021 1H2020 Revenue 552,9 678,4 Operational profit 117,0 129,1 Adjusted EBITDA 229,2 249,9 Net profit / ( loss ) 96,3 0,1 Adjusted EBITDA margin , % 41% 37% Operating cash flow 174,8 251,6 CAPEX 47,7 63,9 Free cash flow (FCF)* 127,1 187,7 Net debt 594,5 787,6 Net debt / EBITDA¹ 1,35х 1,55х Adjusted net debt** 99,0...

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