15th Mar 2012 15:25
For Immediate Release 15 March 2012
PhosAgro Announces High Demand for NPKs in Q1 2012
Moscow, 15 March 2012 - PhosAgro ("PhosAgro" or "the Company") , a leading global vertically integrated phosphate-based fertilizer producer, announces that due to significantly higher demand for NPK fertilizers with a high concentration of P and K in Q1 2012, production of DAP and MAP fertilizers will be lower by more than 22% year-on-year.
As demand for NPK fertilizers remains strong, the Company expects overall fertilizer production in H1 2012 to increase compared to H1 2011, while production of DAP and MAP fertilizers will be approximately 15% lower in Q2 2012 compared with Q2 2011.
PhosAgro CEO Maxim Volkov said: "We have seen a significant increase in demand for our NPK fertilizers, and thanks to our flexible production and sales strategy we have been able to increase overall fertilizer production compared to 2011."
For further information please contact:OJSC "PhosAgro"+7 495 231 2747Irina Evstigneeva, Head of Corporate Finance and Investor RelationsTimur Belov, Press OfficerM:CommunicationsUKStuart [email protected]+ 44 20 7920 2317RussiaSam [email protected]+7 495 663 8005Notes to Editors
PhosAgro is a leading global vertically integrated phosphate-based fertiliser producer. The Group focuses on the production of phosphate-based fertilisers, feed phosphate and high-grade phosphate rock (P2O5 content of not less than 35.7 percent), as well as ammonia and nitrogen-based fertilisers. In 2010, the Group was the largest phosphate-based fertiliser producer in Europe, the largest producer of high-grade phosphate rock worldwide and the third largest MAP/DAP producer in the world (excluding China), according to Fertecon. PhosAgro is also a leading producer of MCP feed phosphates in Europe, and the only producer in Russia.
PhosAgro has 2.1 billion tonnes of resources (according to JORC) of high quality apatite-nepheline ore, representing over 75 years of production. The Group also controls substantial Al2O3 resources, and has 41% of Russia's rare earth oxides resources.
The Group's mines and phosphate rock production facilities are located in the mountainous areas of the Kola Peninsula in the Murmansk region of northwest Russia, whereas its fertiliser and feed phosphate production assets are located near the city of Cherepovets in the Vologda region and near the city of Balakovo in the Saratov region of southwest part of European Russia. The Group is the only global vertically integrated fertilizer producer that derives approximately 90% of its consolidated gross profit from the phosphates segment. PhosAgro's 1H 2011 IFRS revenue was $1.7 bln and EBITDA was $620 mln. The С ompany's net debt/EBITDA ratio was 0.6 at 30 June 2011.
For further information on PhosAgro please visit: www.PhosAgro.com
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