Russia. Net profit "Akron" increased by 2% for the first 9 months of 2016


PJSC "Akron" has declared the results of the consolidated financial statements according to IFRS for 9 months of 2016.

Financial results the Group

    Revenues amounted to 66 785 million rubles ($977 million. USA), which is 3% lower than the result for the accounting period 2015 – 68 715 million rubles.
    Net profit increased by 2% to 14 539 million rubles ($213 million. USA), compared with the result for 9 months of 2015 – 14 322 mln.
    Net debt at the end of the reporting period was 59 196 million rubles, which is 16% higher compared to the result at the end of 2015 – 51 185 mln In dollar terms, this figure increased to 937 million USD. USA.

"The third quarter of 2016 for many fertilizer producers in the world has become very complex. Prices at the moment have fallen to lows for the decade, many factories were forced to reduce production.

The Acron Group confidently resist the storm in international markets. Selling our Chinese factory, we focused on increasing efficiency of the Russian production sites. Temporary weakness of the markets we use to increase our market share. For this purpose we have everything: excellent position from the point of view of production costs, efficient team, good logistics, high degree of vertical integration and a powerful potential to increase production volumes. We believe that all of these factors, over which we've worked hard in recent years, will allow us to enter into a new cycle of stronger and more powerful company.

This year we expect the volume of sales of the Russian company will grow by more than 14% to 6.5 million tonnes, which fully offset the volume of production sold to a Chinese plant, and in 2017 we plan to increase production and sales to more than 7 million tons of Our points of growth for the coming years is the expansion of the GOK "deer Creek" and the work of the new unit "Ammonia-4" when you increase the volume of its processing into products with high added value," — said the Chairman of the Board of Directors of JSC "Akron" Alexander Popov.


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