PhosAgro (Moscow Exchange, LSE: PHOR) raised a buyback price on the PhosAgro-Cherepovets stocks up to 44 rub. from 40.9 rub./common stock within the voluntary offering due to the improved situation on the mineral fertilizers market, the company informed.
VTB Bank increased baking guarantees from 10.1bn rub. to 10.8bn rub.
Now PhosAgro keeps 87.77% in PhosAgro-Cherepovets together with affiliated companies. The consolidation is assumed to be completed by 2014 end.
PhosAgro (TIN 7736216869) is a vertically-integrated company and one of the leading world-known producers of phosphorous-containing fertilizers and apatite concentrate. The Group includes Apatit, PhosAgro-Cherepovets (formed within Ammofos/Cherepovetsky Azot merger), Agro-Cherepovets, Balaklavskie Mineral Fertilizers, PhosAgro-Trans, PhosAgro-Region and NIUIF.
The apatite-nepheline ore reserves of the fields are appraised to gain 2.1bn ton. The ore base covers considerable reserves of aluminum oxide and above 41% of all rare-earth elements in Russia.
The 9-month 2013 net profit (IAS) moved down 52% to 9.094bn rub. from 19.120bn rub.; revenues added 3% to come to 81.276bn rub. from 79.237bn rub.; EBITDA dropped 27% to 19.897bn rub. from 27.194bn rub.; EBITDA - 27% to 19.897bn rub. from 27.194bn rub.; EBITDA margin coming to 24% from 34%.
The IH 2013 net losses reached (RAS) 1.369bn rub. against 5.854bn rub. in profit prior year period. The revenues rallied down 6 fold to 1.012bn rub. from 6.266bn rub.; gross profit - 715mln rub. from 6.076bn rub.