Norilsk Nickel net income tumbles 41%

Apr 15, 2013 | 05:14 PM | Claire Hack

Tags  Norilsk Nickel, Sergey Malyshev, nickel, copper, palladium, Claire Hack

LONDON — MMC Norilsk Nickel’s full-year net income fell 41 percent to $2.1 billion last year, with $976 million in noncash write-offs.

Overall sales revenue of $12.1 billion was down 15 percent from the previous year due to "unfavorable pricing trends" among the metals produced by Norilsk. Metal sales revenue dropped 17 percent to $11.1 billion last year even though physical volumes were more or less unchanged.

The average sale price of nickel fell the most markedly during 2012, sliding 23 percent to $17,719 per tonne. ....

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