Acron's net profit under IFRS for 9 months amounted to 50.9 billion rubles

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AK&M 29 November 2021 12:17

Akron's net profit under IFRS for 9 months of 2021 amounted to 50.9 billion rubles against a loss of 4.16 billion rubles a year earlier. In dollar terms, net profit amounted to $688 million. This is stated in the company's message.

Revenue increased by 59% to RUB 137.2 billion from RUB 86.09 billion. In dollar terms, revenue increased by 52% to $1.85 billion from $1.2 billion.

EBITDA increased 2.9 times to RUB 69.18 billion from RUB 24.1 billion. In dollar terms, EBITDA increased 2.7 times to $935 million from $341 million.

Acron Group is one of the leading vertically integrated producers of mineral fertilizers in Russia and the world. The Group's chemical plants are located in Veliky Novgorod (PJSC Akron) and the Smolensk Region (PJSC Dorogobuzh). The Group conducts its own production of phosphate raw materials in the Murmansk region (JSC "NWFC") and implements a project to develop a potash deposit in the Perm Region (JSC "VKK"), has its own transport and logistics infrastructure, including three port terminals in the Baltic Sea, and distribution networks in Russia and China. A subsidiary of PJSC Akron - North Atlantic Potash Inc. (NAP) — owns production licenses and exploration permits at 10 sites of the Prairie Evaporite potash deposit in the province of Saskatchewan (Canada). Akron also owns a minority stake (19.8%) in the Polish company Grupa Azoty S.A., one of the largest manufacturers of chemical products in Europe.

Akron's net profit under IFRS for the first half of 2021 amounted to RUB 29.68 billion against a loss of RUB 986 million a year earlier. Revenue increased by 52% to 85.98 billion rubles from 56.4 billion rubles, EBITDA increased 2.6 times to 40.27 billion rubles from 15.3 billion rubles. Net debt decreased by 15% to RUB 84.9 billion from RUB 99.58 billion. In dollar terms, net profit amounted to $400 million. Revenue increased by 42% to $1.16 billion from $813 million, EBITDA increased 2.5 times to $542 million from $221 million. Net debt decreased by 13% to $1.17 billion from $1.35 billion.