Moscow – PhosAgro(MICEX-RTS, LSE: PHOR), a leading global vertically integrated phosphate-based fertilizer producer, announces its unaudited operating results for the three months ended 31 March 2012. The Company increased phosphate-based fertiliser sales volumes in Q1 2012 by 9.4% year-on-year (y-o-y), while production of phosphate-based fertilisers for the same period increased by 4.9% y-o-y.
PhosAgro`s production and sales volumes for the three months ended 31 March 2012 are summarized in the tables below.
Production Volumes by type |
|||
---|---|---|---|
(kmt) |
Q1 2012 |
Q1 2011 |
Change y-o-y |
Phosphate-based fertilisers |
1,079.4 |
1,028.8 |
4.9% |
Nitrogen-based fertilisers |
216.9 |
247.0 |
(12.2%) |
Apatit mine and beneficiation plant |
2,271.9 |
2,255.2 |
0.7% |
Other products |
1,798.2 |
1,881.7 |
(4.4%) |
Sales Volumes by type |
|||
---|---|---|---|
(kmt) |
Q1 2012 |
Q1 2011 |
Change y-o-y |
Phosphate-based fertilisers |
1,067.3 |
975.2 |
9.4% |
Nitrogen-based fertilisers |
240.2 |
268.4 |
(10.5%) |
Apatit mine and beneficiation plant |
1,153.1 |
1,082.8 |
6.5% |
Other products |
84.2 |
102.9 |
(18.2%) |
Commenting on the Q1 2012 production results, PhosAgro CEO Maxim Volkov said: “I am pleased to announce a 4.9% rise in production and a 9.4% rise in sales of phosphate-based fertilisers in the first three month of 2012. This was possible due to our successful strategy of organic growth through increasing processing of our own phosphate rock for phosphate-based fertilisers like MAP, DAP, NPK and NPS, as well as enhancing the flexibility of both our production and sales models. We were able to substantially increase volumes of complex NPK fertilisers while DAP prices were under pressure, and keep capacity utilization at near 100%, with a significant y-o-y increase in volumes.”
The table below provides a breakdown of production volumes by major product for Q1 2012:
Production Volumes |
|||
---|---|---|---|
(kmt) |
Q1 2012 |
Q1 2011 |
Change y-o-y |
Apatit mine and beneficiation plant |
|||
Phosphate ore |
6,785.0 |
6,688.4 |
1.4% |
Phosphate rock |
2,005.4 |
2,006.9 |
(0.1%) |
Nepheline concentrate |
266.4 |
248.2 |
7.3% |
Phosphate-based fertilisers |
|||
DAP/MAP |
558.8 |
710.0 |
(21.3%) |
NPK |
416.0 |
255.9 |
62.5% |
NPS |
24.8 |
0 |
n.a. |
APP |
17.3 |
13.0 |
32.9% |
MCP |
62.4 |
49.8 |
25.4% |
Nitrogen-based fertilisers |
|||
AN |
96.3 |
122.9 |
(21.6%) |
Urea |
120.6 |
124.1 |
(2.8%) |
Other products |
|||
AlF3 |
6.6 |
6.4 |
3.4% |
Ammonia |
255.4 |
298.4 |
(14.4%) |
Phosphoric acid |
408.0 |
441.5 |
(7.6%) |
Sulphuric acid |
1,128.2 |
1,135.4 |
(0.6%) |
The table below provides a breakdown of sales volumes by major product for Q1 2012:
Sales Volumes |
|||
---|---|---|---|
(kmt) |
Q1 2012 |
Q1 2011 |
Change y-o-y |
Apatite mine and beneficiation plant |
|||
Phosphate rock |
894.1 |
835.4 |
7.0% |
Nepheline concentrate |
259.0 |
247.3 |
4.7% |
Phosphate-based fertilisers |
|||
DAP/MAP |
569.5 |
675.1 |
(15.7%) |
NPK |
416.1 |
242.7 |
71.5% |
NPS |
5.5 |
0.3 |
n.a. |
APP |
13.4 |
11.8 |
13.4% |
MCP |
62.8 |
45.2 |
39.1% |
Nitrogen-based fertilisers |
|||
AN |
91.3 |
153.4 |
(40.5%) |
Urea |
149.0 |
115.0 |
29.5% |
Other products |
|||
AlF3 |
6.5 |
6.4 |
2.9% |
Ammonia |
30.5 |
58.3 |
(47.6%) |
Phosphoric acid |
2.0 |
2.6 |
(22.2%) |
Sulphuric acid |
45.1 |
35.7 |
26.4% |
Conference Call
On 26 April 2012 at 14:30 London time (17:30 Moscow; 09:30 New York), PhosAgro will host a conference call and webcast to discuss its Q1 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 which language to connect to when dialing in.
Conference call dial-ins:
Moscow: +7 499 272 4337
New York: +1 646 843 4608
London: +44 (0) 20 3003 2666
Toll Free:
UK: 0808 109 0700
USA: 1 866 966 5335
Russia (Moscow only): 8 10 8002 1774011
Conference call password: PhosAgro