Date: 4 weeks ago   Category: Industry

The profit of PhosAgro for the II quarter has grown twice — to 2,95 billion rubles — Rambler News Service


The net profit of the producer of mineral fertilizers of PhosAgro for the II quarter 2018 has made 2,955 billion rubles, having increased in annual terms twice, follows from the reporting of the company. The adjusted earnings have increased by 91% — to 11,6 billion rubles. Quarter revenue has increased by 27% — to 55,6 billion rubles. As of June 30 the net debt of the company has made 122,9 billion rubles against 119,9 billion rubles for December 31, 2017 Following the results of the I half-year the net profit of the company has made 9,83 billion, having reduced by 28%, at the same time the adjusted earnings have grown by 53% — to 17,97 billion rubles. Revenue for the reporting period has grown by 25% — to 111,25 billion rubles. "Weakening of ruble exchange rate to US dollar for 8% in the II quarter (the average exchange rate of ruble to US dollar in the II quarter 2018 and the II quarter 2017 has made 61,8 rubles and 57,2 rubles respectively) has rendered net positive effect on results of PhosAgro in the reporting period as the prices of the prevailing part of production of the company are nominated in US dollars while expenses mainly have a ruble basis. At the same time weakening of ruble exchange rate as of June 30, 2018 (for US dollar) in comparison with March 31, 2018 (57,3 rubles for US dollar) has led 62,8 rubles to a foreign exchange loss of 8,7 billion rubles in the II quarter 2018 (in the II quarter 2017 the foreign exchange loss has made 4,6 billion rubles)" — the company notes. PhosAgro — one of the largest producers of phosphorus-containing fertilizers in the world. To structures of family of Guryev — Adorabella Limited and Chlodwig Enterprises Limited — belongs according to 21,15% and 22,51% of the company, another 4,82% of stocks belong to Evgenia Guryeva. Other shareholders are the board member Igor Antoshin who possesses 7,07% of stocks, another 19,35% of stocks belong to the rector of Mining University Vladimir Litvinenko, 25,1% of stocks are in free circulation.

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