Russian Norilsk Nickel complains about the deterioration of financial results
Russian mining and metallurgical giant Norilsk Nickel sees a deterioration in financial results in 2025 amid trade wars, a strong ruble, and the like.
This will be reported by "The Moscow Times".
"This year, extremely high geopolitical uncertainty, continued volatility of target markets amid escalating trade wars, and risks of a slowdown in global economic growth, as well as tight monetary policy, continue to have a significant negative impact on the company's financial performance," the company's Chief Financial Officer, Senior Vice President, said at the annual shareholders' meeting.
President Sergey Malyshev.
According to him, low metal prices combined with the ruble exchange rate strengthened in 2025, inflationary risks, and the high cost of servicing the company's debt lead to a further deterioration in the company's financial results.
Such conditions force Norilsk Nickel to limit its investment program and prioritize projects. And paying dividends"by increasing the debt level" would be impractical.
Therefore, the Board of Directors of Norilsk Nickel recommended that shareholders not pay dividends for 2024.