By the end of 2022 Norilsk Nickel has concluded more than 4.400 contracts for the supply of material and technical resources for centralized procurement in the amount of about 180.6 billion rubles, according to the company's report on sustainable development for 2022.
"We live in new conditions. Norilsk Nickel has faced a number of new and unprecedented challenges for us related to our sales activities and logistics. Maintaining leadership positions and advancing the strategy of sustainable development has become doubly difficult for us in modern realities. Both from the point of view of transport and from the point of view of suppliers of modern technologies. Therefore, we had to enter new markets, look for new partners," said Vladimir Zhukov, Vice President for Investor Relations and Sustainable Development.
Norilsk Nickel's supply chain management processes include both interaction with suppliers of mineral raw materials in the upstream sector and monitoring the sustainability of their practices and procedures, as well as ensuring high quality products in the downstream sector, the report says.
In the future, Norilsk Nickel plans to expand supply chain management processes, which will also cover suppliers of goods and services, ttelegraf.ru reports.
"The company's financial model has maintained a high degree of stability, even despite significant pressure from external circumstances and challenges. EBITDA, a key indicator that characterizes our financial results, decreased by almost 20% last year. Free cash flow has decreased almost tenfold. The amount of taxes paid by us last year remained unchanged. At the same time, all total costs for sustainable development increased by 30% to $3.9 billion. Thus, Norilsk Nickel, despite the pressure that our financial model is experiencing, confirms the priority of maintaining sustainability," Zhukov stressed.
Alex Shishlo for Rough&Polished
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