Auto Trader Ltd
Farminguk
28 September 2016 | Online since 2003
OvoConcept


3 August 2012 14:33:30 |Market Reports,News,Slurry and Irrigation

Uralchem revenues rise in recovering fertiliser market


Uralchem Holding plc, the holding company of the Uralchem Group, one of the largest producers of nitrogen and phosphate fertilisers in Russia, announced its unaudited IFRS financial results for the six months ended 30 June 2012.
Dmitry Konyaev, CEO of URALCHEM, OJSC (part of the Group), commented on the results for the first half of 2012, “We achieved good financial results in the first half of this year compared to the same period in 2011. EBITDA increased by more than one-third, sales grew by 18% and reached 3 million tons. The good performance was driven by situation on the urea and ammonium nitrate markets, which was favourable for us, as well as acquisition of Minudobrenia OJSC and our own efforts aimed at improving the efficiency of enterprises, the modernization of production and our responsiveness to changing market needs.”
Financial Results
Revenue for the first half of 2012 grew to US $1,261 million, compared to US $1,035 million in the first half of 2011. Operating profit amounted to US $410 million, or 33% of the revenue, compared with the operating profit of US $288 million, or 28% of the revenue in the first half of 2011.
Net profit for the first half of 2012 amounted to US $444 million, compared to US $266 million in the first half of 2011.
During the first half of 2012, adjusted EBITDA reached US $462 million, compared to US $337 during the same period last year, a rise of 37%. Adjusted EBITDA margin for the first half of 2012 comprised 37% of revenue compared with 33% of revenue for the first half of 2011.
Markets
During the second quarter of 2012 prices of mineral fertilisers and semi-products showed significantly different dynamics. Ammonia prices began to recover due to high demand and limited supply. During the second quarter the price grew by $150/t and by the end of June it reached $600/t FOB at the Yuzhny port.
Prices for urea increased until mid-May and surpassed the peak figures of 2011. Since mid-May there was a significant decline in prices due to low activity of buyers. In late June - early July, the urea market began to show signs of recovery.
Prices for ammonium nitrate repeated the dynamics of the urea market and grew rapidly until mid-May. However, the second half of the quarter was characterized by falling prices for the product, which was also due to low purchasing activity.
The global market of phosphate fertilisers was in the process of recovery during the second quarter of 2012. Due to strong demand in Latin America, spot prices recovered, despite the launch of Chinese products on the market. Market participants are forecasting a stable outlook for the third quarter of the year.
Sales
In the first six months of 2012 the Group’s product sales grew by 18% compared to the same period in 2011 and totalled 3 million tons. Due to the acquisition of OJSC Minudobrenia, Perm, sales of urea and ammonia increased significantly, by 117% and 61% respectively.
Financial Situation
Cash generated from operating activities in the first half of 2012 amounted to US $342 million compared with US $194 million in the first half of 2011.
On 30 June 2012, the Company’s net debt amounted to US $991 million. Interest expenses in the first half of 2012 decreased by US $23 million or 36% compared to the same period last year.

Download

0 Comment

loginuserlogo
Name

Please enter your name


Email

Please enter your email

Please enter valid email


Comment

Please enter your comment


Post Comment

Your comment has been submitted successfully. Please wait for admin approval.


Comments

No comments posted yet. Be the first to post a comment


India | 27 September 2016
For a GM-driven agriculture revival

Agricultural growth has shown signs of stagnation of late. Some of the recent developments do not augur well for the sector and unless corrective measures are initiated, it could damage India’s long-t...


Ghana | 27 September 2016
African agriculture is powering economic transformation

The evidence is now in and the verdict is that Africa’s agriculture is powering economic transformation in the region. African agriculture has shown remarkable improvement compared to its precarious s...


USA | 27 September 2016
Wheat farmers ask RMA for help with falling numbers

They want USDA Risk Management Agency Administrator Brandon Willis to make an exception to the procedure the agency uses to calculate a farmer’s actual production history, or APH, said Michelle Hennin...


Ukraine | 27 September 2016
Ukraine mulls cancelling ban on farmland sale

The Ukrainian Agriculture Ministry said on Monday it had prepared a draft law on agricultural reform, which envisaged cancellation of a ban on the sale of the country's farmland. "Maybe at some st...


New Zealand | 27 September 2016
New Zealand to help boost local dairy industry

Thousands of Filipinos stand to benefit from technical interventions New Zealand committed to provide to boost the local dairy industry. Agriculture Secretary Emmanuel Piñol on Tuesday said Nathan ...



Trending Now

Viewed
Discussed


Top stories you may have missed
FarmingUK
FarmingUK Logo

FarmingUK

Labour will end the badger cull and prioritise ending bovine TB, Shadow Def...


FarmingUK
FarmingUK Logo

FarmingUK

A herd of rare White Park cattle could die out if its owners do not urgentl...


FarmingUK
FarmingUK Logo

FarmingUK

The UK government is "failing" to support farmers in the long-term accordin...


FarmingUK
FarmingUK Logo

FarmingUK

Retailer Co-op has announced that from May 2017 all of its bacon and lamb w...


FarmingUK
FarmingUK Logo

FarmingUK

Over 50 wildlife organisations have compiled a stock-take of all the UK's n...


FarmingUK
FarmingUK Logo

FarmingUK

In the run up to the EU farm ministers meeting the agricultural sector have...


FarmingUK
FarmingUK Logo

FarmingUK

The RPA must iron out a number of problems that still exist with 2015 BPS p...


FarmingUK
FarmingUK Logo

FarmingUK

Tourism businesses in the countryside are being held back due to the uncert...


FarmingUK
FarmingUK Logo

FarmingUK

A 24 point action plan aimed at revitalising Scotland's sheep sector after ...


FarmingUK
FarmingUK Logo

FarmingUK

A new survey has revealed that the vast majority of British consumers belie...


closeicon
Username
Password