Akron Nine-Month 2012 Profit up 12.5% to $377 Mln

MOSCOW, January 11 (RIA Novosti) – Akron, one of Russia’s largest mineral fertilizer producers, increased its IFRS net profit 12.5 percent year-on-year for January-September 2012 to 11.72 billion rubles ($377 million), the company stated on Friday.

This figure was well in excess of the 9.767 billion rubles of net profit expected by analysts questioned by Prime News.

Revenues stood at 53.469 billion rubles, up 15.7 percent on the same nine-month period in 2011.

EBITDA for the first nine months totalled 15.224 billion rubles, up 7 percent on the same period in the previous year.

“In the reporting period, the group produced 4.43 million tons of commercial products, up two percent year-on-year,” said Akron’s Board of Directors Chairman Alexander Popov.

“Industrial products output did not change significantly. We consider our production results as high, taking into account that even the temporary suspension of operations at our Russian NPK units in June and July 2012, and the large-scale overhauls at our Akron and Dorogobuzh sites, did not have a significant adverse effect on our final results,” he added.


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