Uralkali 2011 Net Profit Soars 60% to $1.527 Bln

Russian leading potash producer Uralkali, which merged with Silvinit fertilizer producer last year, saw 2011 net profit jump 60 percent year-on-year to $1.527 billion to IFRS, the firm said in a statement on Wednesday.

Uralkali published its consolidated financial results for the first time after the merger.

Revenue rose 41 percent last year to $4.203 billion, while net revenue from sales grew 43.47 percent to $3.568 billion.

Earnings Before Interest, Taxation, Depreciation, Amortization (EBITDA) skyrocketed 75.3 percent to $2.459 billion, while EBITDA margin increased to 69 percent from 56 percent year-on-year.

Potash chloride production amounted to 10.83 million tons last year. Sales of the potash chloride stood at 10.65 million tons, including 1.87 million tons sold in Russia.


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