Russia fertilizer firm Uralchem's 2012 net profit rises 49%

12 March 2013 15:34  [Source: ICIS news]

MOSCOW (ICIS)--Uralchem’s 2012 net profit rose 49% year on year to $665m (€512m) on higher revenues, the Russia-based fertilizer producer said on Tuesday.

The company’s revenues for the whole of last year totalled $2.42bn, an increase of 16% from $2.08bn in 2011, it added.

Dmitry Konyaev, CEO said: “Thanks to the programmes for the modernisation of production facilities, which we have successfully implemented in recent years, as well as our efforts to improve the management of the company, the year 2012 was a success for Uralchem Holding.

“During the year, we maintained an optimal balance of production, oriented towards current demand, which allowed us to be responsive to the needs of the market. These factors enabled the company to show good operational and financial performance over the past year,” he added.

Uralchem also said that following a background of steady high demand for its fertilizers in Russia and abroad, its sales of commercial products in 2012 rose by 18% compared with 2011, amounting to a total of 5.80m tonnes.

Sales of urea in 2012 increased to 1.19m tonnes from 521,000 tonnes in 2011, while sales of commercial ammonia grew by 50% year on year to 673,000 tonnes.

However, Uralchem's production of ammonium nitrate and its derivatives totalled 2.04m tonnes, a fall of 6% year on year.

($1 = €0.77)

By: Sergei Blagov
+44 20 8652 3214

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