As you know, behind every successful man there is a woman who mutters: “I told you so! I told you so!” CrazyMetal will take on the role of such a “saw” today and say this to Vladimir Potanin (and there is no doubt about his success - they even made a TV series about it) in connection with Norilsk Nickel’s financial data for 2024.

For reference, for those who have not yet had time to read the latest press: Norilsk Nickel’s net profit under IFRS in 2024 decreased by 37% compared to the previous year, amounting to $1.8 billion, EBITDA decreased by 25% to $5.2 billion. The company’s revenue for the reporting period decreased by 13% year-on-year, reaching $12.5 billion.

The justification for such sad results is routine - a decrease in market prices for nickel and platinum group metals. In this regard, Norilsk Nickel CFO Sergey Malyshev stated that "the absolute priority is to maintain the company’s financial stability," so there will be no dividends.

CrazyMetal has repeatedly addressed ("I SAID IT!") the topic of the adequacy of the company’s management behavioral paradigm in the current situation, which Norilsk Nickel management calls "the ongoing turbulence of commodity markets and high geopolitical risks." By and large, for Potanin as the head of Norilsk Nickel, this is the first truly serious challenge since 2012, which requires complete managerial dedication and, pompously speaking, passion for work. As his great predecessors, the "red directors," did - the same Vladimir Ivanovich Dolgikh.

Instead, the president and owner of the giant of the domestic industry has almost not starred in a movie since 2022. Although there is little left to do - after all, his name card is already on Kinopoisk.

The moral is clear. Only Gaius Julius Caesar could do several things at once. Everyone else, not so great, needs to concentrate on one thing - either make a movie or never leave Norilsk.