PhosAgro increased 9-month fertilizer sales by 10%

AK&M 21 October 2020 13:31

In January-September 2020, PhosAgro increased fertilizer production by almost 5% year-on-year to 7.5 million tonnes. In the third quarter of 2020, fertilizer production amounted to 2,503.3 thousand tonnes growing by 1.7% year-on-year, the company informed.

Fertilizer sales increased by 10% year-on-year in 9M 2020, to 7.9 million tonnes. This impressive growth was driven by strong demand in PhosAgro's priority sales markets. In 3Q 2020, fertilizer sales amounted to 2,716.5 thousand tonnes, up by 9.9% year-on-year due to high demand from Canada and India.

The domestic market accounted for 31% of sales in 9M 2020, nearly unchanged year-on-year.

Phosphate rock and nepheline concentrate production increased by 1.3% year-on-year to 8.9 million tonnes in 9M 2020. In 3Q 2020, production rose by 1.3% year-on-year to 2,976.6 thousand tonnes.

PJSC PhosAgro (tax number: 7736216869) is a Russian vertically integrated company, a global leader in the production of phosphorus-containing mineral fertilizers. PhosAgro's Global Depositary Receipts are listed on the LSE and the Russian stock exchange.

Adjusted IFRS net profit of PJSC PhosAgro for 2019 decreased by 11.2% to RUB 37.062 billion from RUB 41.748 billion a year earlier. Net profit amounted to RUB 49.408 billion against RUB 22.135 billion. Revenue increased by 6.3% to RUB 248.1 billion, EBITDA went up 0.9% to RUB 75.6 billion.