OREANDA-NEWS. August 20, 2013. In the 1st half of 2013, net loss of Russian newsprint producer Volga (Nizhny Novgorod, Russia) amounted to 165.5 million rubles (USD 5 million), compared to the previous year of 59.8 million rubles (\\$1.8 million), the company said in statement.

In January-June 2013, revenue decreased by 6.8% to 4.75 billion rubles (USD 144 million) year –on- year (in the 1st half of 2013 - 5.1 billion rubles (USD 154 million).

Operating loss for the first six months of 2013 amounted to 104,35 rubles (USD 3 million), while in January-June 2013, operating profit amounted to 165 million rubles (USD 5 million).

Export supplies amounted to 58.7% of sales volume of Volga. Most of the export sales fell on the European countries, Asia and Africa. According to the company's management, currency fluctuation may have a negative impact on financial results. In addition, Volga’s negative result in the 1st half of 2013 is explained by rising prices for raw materials and energy.