EDITOR: | February 10th, 2014

PhosAgro Fertilizer Sales up 11% y-o-y for FY 2013

| February 10, 2014 | No Comments
image_pdfimage_print

February 10, 2014 (Source: PhosAgro) — PhosAgro (Moscow Exchange, LSE: PHOR), a leading global vertically integrated phosphate-based fertilizer producer, announces its production results for the twelve months ended 31 December 2013.

Total fertilizer production and sales for FY 2013 grew 9.0% and 11.2% year-on-year, respectively. Phosphate-based fertilizer production and sales for FY 2013 increased by 6.5% and 10.1% year-on-year, respectively.

PhosAgro’s production and sales volumes for FY 2013 are summarized in the tables below.

Production Volumes by type

(kmt)

FY 2013

FY 2012

Change y-o-y

Phosphate-based fertilizers

4,620.2

4,340.0

6.5%

Nitrogen-based fertilizers

1,309.6

1,098.0

19.3%

TOTAL fertilizers

5,929.8

5,438.0

9.0%

Apatit mine and beneficiation plant

8,703.6

8,960.3

(2.9%)

Other products**

150.3

24.1

523.7%

 

Sales Volumes by type

(kmt)

FY 2013

FY 2012

Change y-o-y

Phosphate-based fertilizers

4,672.10

4,242.90

10.1%

Nitrogen-based fertilizers

1,262.20

1,094.90

15.3%

TOTAL fertilizers

5,934.30

5,337.80

11.2%

Apatit mine and beneficiation plant

3,912.00

4,583.10

(14.6%)

Other products**

313.00

257.30

21.6%

Commenting on the FY 2013 production results, PhosAgro CEO Andrey A. Guryev said: “We have maintained near 100% capacity utilisation throughout 2013, despite challenging market conditions, thanks to our flexible production and sales, which allowed us to change product mix and sell to the markets where demand remained strong and we could achieve the best netback. We were particularly successful in increasing sales to our domestic Russian and CIS markets, as well as to Brazil, Malaysia and Vietnam.

“Our position as a low cost producer means that we were able to maintain higher levels of production and sales throughout 2013, despite other players being forced to curtail production in the second half of the year.

“Looking forward to 2014, we believe that the effects of Uralkali’s decision to stop export sales through BPC on the whole market have subsided, and we are seeing prices for key phosphate-based fertilizers normalise as demand, backed by solid farmer economics, returns ahead of planting seasons in key markets.”

The table below provides a breakdown of production volumes by major product for FY 2013:

Production Volumes

(kmt)

FY 2013

FY 2012

Change y-o-y

Apatit mine and beneficiation plant
Phosphate rock

7,713.0

7,903.6

(2.4%)

Nepheline concentrate

990.6

1,056.7

(6.3%)

Phosphate-based fertilizers
DAP/MAP

2,134.1

2,047.3

4.2%

NPK

1,628.4

1,644.2

(1.0%)

NPS

459.1

346.4

32.5%

APP

98.6

60.5

63.0%

MCP

247.2

241.6

2.3%

SOP

52.8

0.0

Nitrogen-based fertilizers
AN

297.4

314.6

(5.5%)

NP

109.1

80.3

35.9%

Urea

903.1

703.1

28.4%

Other products
AlF3

27.1

24.1

12.4%

STPP

123.2

0.0

Feed stock
Ammonia

1,048.1

1,095.6

(4.3%)

Phosphoric acid (kt P2O5)

1,764.6

1,608.1

9.7%

Sulphuric acid (kt monohydrate)

4,338.4

4,437.3

(2.2%)

The table below provides a breakdown of sales volumes by major product for FY 2013:

Sales Volumes

(kmt)

FY 2013

FY 2012

Change y-o-y

Apatite mine and beneficiation plant
Phosphate rock*

2,920.50

3,541.80

(17.5%)

Nepheline concentrate

991.50

1 041.30

(4.8%)

Phosphate-based fertilizers
DAP/MAP

2,139.00

2,027.10

5.5%

NPK

1,666.90

1,619.00

3.0%

NPS

486.60

299.10

62.7%

APP

79.60

52.00

53.1%

MCP

245.20

245.70

(0.2%)

SOP

54.80

0.00

Nitrogen-based fertilizers
AN

279.70

297.90

(6.1%)

NP

110.00

79.40

38.5%

Urea

872.50

717.60

21.6%

Other products
AlF3

27.10

24.10

12.4%

STPP

121.70

0.00

Ammonia

6.30

72.80

(91.3%)

Phosphoric acid

30.50

12.60

142.1%

Sulphuric acid

127.40

147.80

(13.8%)


Raj Shah

Editor:

Raj Shah has professional experience working for over a half a dozen years at financial firms such as Merrill Lynch and First Allied Securities Inc., ... <Read more about Raj Shah>


Copyright © 2016 InvestorIntel Corp. All rights reserved. More & Disclaimer »


Leave a Reply

Your email address will not be published. Required fields are marked *