29th Oct 2012 08:00
For Immediate Release 29 October 2012
PhosAgro Phosphate-based Fertiliser Sales Up 7.2% for 9M 2012
Moscow - PhosAgro , a leading global vertically integrated phosphate-based fertiliser producer, announces its production update for the nine months ended 30 September 2012. The Company increased phosphate-based fertiliser sales volumes for 9M 2012 by 7.2% year-on-year (y-o-y), while production of phosphate-based fertilisers for the same period increased by 6.3% y-o-y.
PhosAgro's production and sales volumes for 9M 2012 are summarized in thetables below. Production Volumes by type (kmt) 9M2012 9M2011 Change y-o-y Phosphate-based fertilisers 3,217.7 3,025.7 6.3%Nitrogen-based fertilisers 787.2 697.6 12.8%Apatit mine and beneficiation 6,635.9 6,508.5 2.0%plant Other products 5,347.7 5,380.2 (0.6%) Sales Volumes by type (kmt) 9M2012 9M2011 Change y-o-y Phosphate-based fertilisers 3,230.2 3,012.4 7.2%Nitrogen-based fertilisers 787.8 698.1 12.8%Apatit mine and beneficiation 3,311.7 3,102.0 6.8%plant Other products 203.9 259.5 (21.4%)
Commenting on the 9M 2012 production results, PhosAgro CEO Maxim Volkov said: "We continue to successfully execute our strategy of organic growth supported by flexible production and sales of our products. In the first nine months of 2012 we delivered 6.3% and 7.2% year-on-year growth in production and sales, respectively, of phosphate-based fertilisers, while also increasing production and sales volumes of nitrogen-based fertilisers and mining products. We maintained full utilisation of our production capacities during the first nine months of the year. Going forward, we will remain focused on further implementing our strategy, as well as on increasing the efficiency of our operations."
The table below provides a breakdown of production volumes by major product for9M 2012: Production Volumes (kmt) 9M2012 9M2011 Change y-o-y
Apatit mine and beneficiation plant
Phosphate rock 5,846.8 5,762.2 1.5%Nepheline concentrate 789.1 746.3 5.7% Phosphate-based fertilisers DAP/MAP 1,530.3 1,916.1 (20.1%)NPK 1,256.9 831.6 51.1%NPS 207.8 64.3 223.2%APP 41.4 44.7 (7.4%)MCP 181.3 168.9 7.3% Nitrogen-based fertilisers AN 241.3 356.4 (32.3%)NP 65.1 0.0 -Urea 480.8 341.2 40.9% Other products AlF3 19.5 18.0 8.3%Ammonia 823.6 799.6 3.0%Phosphoric acid 1,209.3 1,275.2 (5.2%)Sulphuric acid 3,295.3 3,287.4 0.2%The table below provides a breakdown of sales volumes by major product for 9M2012: Sales Volumes (kmt) 9M2012 9M2011 Change y-o-y
Apatite mine and beneficiation plant
Phosphate rock 2,534.0 2,351.3 7.8%Nepheline concentrate 777.7 750.7 3.6% Phosphate-based fertilisers DAP/MAP 1,517.6 1,937.0 (21.7%)NPK 1,283.0 803.8 59.6%NPS 209.7 64.6 224.6%APP 34.3 37.3 (8.0%)MCP 185.6 169.7 9.4% Nitrogen-based fertilisers AN 249.8 340.7 (26.7%)NP 49.9 0.0 -Urea 488.1 357.4 36.6% Other products AlF3 19.5 18.3 6.6%Ammonia 69.5 117.6 (40.9%)Phosphoric acid 7.1 9.8 (27.6%)Sulphuric acid 107.8 113.8 (5.3%)Conference Call
On 30 October 2012 at 13:00 London time (17:00 Moscow; 09:00 New York) PhosAgro will host a conference call and webcast to discuss its 9M 2012 operating results.
The call will be held in English with simultaneous translation into Russian on a separate line. Participants will be required to tell the operator their preferred language when dialing in.
English: http://www.media-server.com/m/p/7jnm2243/lan/en Russian: http://www.media-server.com/m/p/7jnm2243/lan/ru
Conference call dial-ins:+7 499 272 4337 Moscow+1 212 999 6659 New York+44 (0) 20 3003 2666 LondonToll Free:0808 109 0700 UK1 866 966 5335 USA8 10 8002 490 2044 Russia (Moscow only)
Conference call password: PhosAgro
For further information please contact:
OJSC PhosAgro+7 495 231 2747Irina Evstigneeva, Head of Corporate Finance and Investor RelationsTimur Belov, Press OfficerM:CommunicationsSam [email protected]+44 7920 2356Notes to Editors
PhosAgro is one of the leading global vertically integrated phosphate-based fertiliser producers. The Company focuses on the production of phosphate-based fertilisers, feed phosphate and high-grade phosphate rock (P2O5 content of not less than 39 percent), as well as ammonia and nitrogen-based fertilisers. The Company is the largest phosphate-based fertiliser producer in Europe, the largest producer of high-grade phosphate rock worldwide and the second 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 as of 1 June 2011) of high quality apatite-nepheline ore, representing over 75 years of production (at current production levels). The Company also controls substantial Al2O3 resources, and has more than 41% of Russia's rare earth oxides resources.
The Company'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. PhosAgro reported 2011 IFRS revenue of USD 3.4 bln and 2011 EBITDA of USD 1.2 bln. The С ompany's net debt/EBITDA ratio was 0.43 as of 31 December 2011.
For further information on PhosAgro please visit: www.PhosAgro.com
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