24th Apr 2013 10:30
OJSC PHOSAGRO - PhosAgro Fertilizers Sales up 24.7% y-o-y in 1Q 2013OJSC PHOSAGRO - PhosAgro Fertilizers Sales up 24.7% y-o-y in 1Q 2013
PR Newswire
London, April 24
PhosAgro Fertilizers Sales up 24.7% y-o-y in 1Q 2013
Moscow - PhosAgro (Moscow Exchange, LSE: PHOR), a leading global verticallyintegrated phosphate-based fertilizer producer, announces its production updatefor three months ended 31 March 2013. Total fertilizer production and sales in1Q 2013 grew 17.6% and 24.7% y-o-y, respectively. Phosphate-based fertilizersales volumes* in 1Q 2013 increased by 21.3% y-o-y, while production ofphosphate-based fertilizers during the period increased by 9.2% y-o-y.
PhosAgro's production and sales volumes for the three months ended 31 March2013 are summarized in the tables below.
Production Volumes by type (kmt) 1Q 2013 1Q 2012 Change y-o-y Phosphate-based fertilizers 1,178.6 1,079.4 9.2%Nitrogen-based fertilizers 346.3 216.9 59.7%TOTAL Fertilizers 1,524.9 1,296.3 17.6% Apatit mine and beneficiation 2,226.2 2,271.9 (2.0%)plantOther products ** 40.7 6.6 516.7% Sales Volumes by type (kmt) 1Q 2013 1Q 2012 Change y-o-y Phosphate-based fertilizers 1,294.4 1,067.3 21.3%Nitrogen-based fertilizers 336.7 240.2 40.2%TOTAL Fertilizers 1,631.1 1,307.5 24.7% Apatit mine and beneficiation 1,018.0 1,153.1 (11.7%)plantOther products 79.9 84.2 (5.1%)Commenting on the Q1 2013 production results, PhosAgro CEO Maxim Volkov said:"We achieved growth in fertilizer production and sales of 17.6% and 24.7%during 1Q 2013 primarily because of our ability to adapt our flexibleproduction lines to market demand in just two working shifts. Despite DAPprices continuing to be under downward pressure during the first quarter, wekept capacity utilization at near 100%, with significant y-o-y increases involumes. Going forward we plan to further enhance our production flexibility byintroducing new grades of complex NPK fertilizers, and by expanding ourflexible production capacity to enable us to increase processing of our ownphosphate rock."
The table below provides a breakdown of production volumes by major product forQ1 2013: Production Volumes (kmt) 1Q 2013 1Q 2012 Change y-o-y Apatit mine and beneficiation plant Phosphate rock 1,972.1 2,005.4 (1.7%)Nepheline concentrate 254.1 266.4 (4.6%) Phosphate-based fertilizers DAP/MAP 529.8 558.8 (5.2%)NPK 433.7 416.0 4.3%NPS 113.4 24.8 357.3%APP 24.5 17.3 41.6%MCP 62.1 62.4 (0.5%)SOP 15.1 - - Nitrogen-based fertilizers AN 112.8 96.3 17.1%Urea 233.5 120.6 93.6%Other productsAlF3 7.0 6.6 6.1%STPP 33.7 - - Feed stock Ammonia 263.7 255.4 3.2%Phosphoric acid (kt P2O5) 439.8 408.0 7.8%Sulphuric acid (kt 1,102.0 1,128.2 (2.3%)monohydrate) The table below provides a breakdown of sales volumes by major product for Q12013: Sales Volumes (kmt) 1Q 2013 1Q 2012 Change y-o-y Apatite mine and beneficiation plant Phosphate rock 766.2 894.1 (14.3%)Nepheline concentrate 251.8 259.0 (2.8%) Phosphate-based fertilizers DAP/MAP 614.1 569.5 7.8%NPK 428.2 416.1 2.9%NPS 161.6 5.5 2 838.2%APP 16.8 13.4 25.4%MCP 56.1 62.8 (10.7%)SOP 17.6 - - Nitrogen-based fertilizers AN 118.7 91.3 30.0%NP 0.9 - -Urea 217.1 149.0 45.7% Other products AlF3 6.8 6.5 4.6%STPP 32.6 - -Ammonia 1.8 30.5 (94.1%)Phosphoric acid 7.4 2.0 270.0%Sulphuric acid 31.3 45.1 (30.6%) * Excluding intra-group sales** Excluding feed stockConference Call and Webcast
On 24 April 2013 at 13:00 London time (16:00 Moscow; 08:00 New York) PhosAgrowill host a conference call and webcast to present its audited consolidatedIFRS financial results for the full year ended 31 December 2012 and itsoperating results for the three months ended 31 March 2013.
PhosAgro CEO Maxim Volkov will answer questions from conference call andwebcast participants after a presentation of the results.
The call will be held in English, with simultaneous translation into Russian ona separate line. Participants will be required to tell the operator theirpreferred language when dialling in.
Webcast links:
English: http://www.media-server.com/m/p/mqkr3223/lan/enRussian:http://www.media-server.com/m/p/mqkr3223/lan/ru
Conference call dial-ins: +7 499 272 4337 Moscow+1 212 999 6659 New York+44 (0) 20 3003 2666 London Toll Free: 0808 109 0700 UK1 866 966 5335 USA8 10 8002 490 2004 Russia (Moscow only)Conference call password: PhosAgro
A replay of the webcast and conference call in Russian and English, as well asa transcript in English, will be made available on PhosAgro's website shortlyafter the call.
For further information please contact:
OJSC PhosAgro+7 495 231 2747Irina Evstigneeva, Head of Corporate Finance and Investor RelationsTimur Belov, Press Officer M:CommunicationsSam [email protected]+44 (0) 7554 993 032 Notes to EditorsPhosAgro is one of the leading global vertically integrated phosphate-basedfertilizer producers. PhosAgro focuses on the production of phosphate-basedfertilizers, feed phosphate and high-grade phosphate rock (P2O5 content of notless than 39 percent), as well as ammonia and nitrogen-based fertilizers. In2011, PhosAgro was the largest phosphate-based fertilizer producer byproduction volume in Europe, the largest producer of high-grade phosphate rockby production volume worldwide, and the second largest MAP/DAP producer bynameplate capacity and the third largest MAP/DAP producer by production volumein the world (excluding China), according to Fertecon and the InternationalFertilizer Industry Association. PhosAgro is also a leading producer of MCPfeed phosphate in Europe, and the only producer of MCP in Russia.
PhosAgro has 2.1 billion tonnes of measured and indicated resources (measuredas of 1 June 2011 according to the JORC Code) (inclusive of reserves) of highquality apatite-nepheline ore, representing over 75 years of production (atcurrent extraction levels). The Group's apatite-nepheline ore contains P2O5,Al2O3, TiO2 (titanium oxide) and rare earth minerals. The Group's ore resourcesaccount for approximately 41 per cent. of the total rare earth resourcescurrently reported in Russia.
The Company's mines and phosphate rock production facilities are located in themountainous areas of the Kola Peninsula in the Murmansk region of northwestRussia, whereas its fertilizer and feed phosphate production assets are locatednear the city of Cherepovets in the Vologda region and near the city ofBalakovo in the Saratov region of southwest part of European Russia. PhosAgro's2012 IFRS revenue was over USD 3.4 bln and EBITDA was USD 1.1 bln. The Сompany's net debt/EBITDA ratio was 0.77 at 31 December 2012.For furtherinformation on PhosAgro please visit: www.PhosAgro.com
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