Full Year 2020 GMK Noril'skiy Nikel' PAO Earnings Call (IFRS) Transcript

Feb 16, 2021 / 02:00PM GMT
Operator

Good day, and welcome to the Full Year 2020 Financial Results Conference Call. Today's conference is being recorded. At this time, I would like to turn the conference over to Vladimir Zhukov, Vice President, Investor Relations. Please go ahead, sir.

Vladimir Zhukov - Public Joint Stock Company Mining and Metallurgical Company Norilsk Nickel - VP of IR Department

Hello, everyone, and welcome to the Norilsk Nickel's 2020 IFRS Financial Results Conference Call. It is my pleasure to pass the microphone to Sergey Malyshev, Chief Financial Officer.

Sergey G. Malyshev - Public Joint Stock Company Mining and Metallurgical Company Norilsk Nickel - Senior VP, CFO & Member of Management Board

Good evening. Let me start with key financial highlights of 2020. Consolidated revenue increased by 15% year-on-year to $15.5 billion, primarily driven by high palladium and rhodium prices as well as the full commissioning of Bystrinsky projects. I would mention that due to the economic downturn and weak demand, we have not sold or

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