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Uralkali Announces IFRS H1 2013 Financial Results

Uralkali, one of the world’s largest potash producers, has today published its audited financial results for the six months ended 30 June 2013 prepared in accordance with IFRS and audited by ZAO Pricewaterhouse Coopers Audit.

Uralkali Announces IFRS H1 2013 Financial Results Uralkali Announces IFRS H1 2013 Financial Results

Uralkali, one of the world’s largest potash producers, has today published its audited financial results for the six months ended 30 June 2013 prepared in accordance with IFRS and audited by ZAO Pricewaterhouse Coopers Audit.

 

H1 2013 FINANCIAL HIGHLIGHTS1:

 

    Net Revenue2 down 29% y-o-y to USD 1,348 million
    EBITDA3 down 40% y-o-y USD 876 million
    EBITDA margin4 down to 65%
    Net Profit down 53% y-o-y USD 397 million
    Cash COGS down 3% to USD 58 per tonne

 

H1 2013 OPERATIONAL HIGHLIGHTS1:

 

    Production down 7% y-o-y to 4.5 million tonnes of potassium chloride (KCl)
    Sales volumes down 17% y-o-y to 4.3 million tonnes of KCl
    Average FCA export price down 17% to USD 316 per tonne of KCl
    Strategic capacity development on track, with stage one of Ust-Yayvinsky mine construction completed

 

CORPORATE HIGHLIGHTS:

 

    Announcement of decision to focus Uralkali production and route to market, with streamlining of exports through Uralkali Trading SA
    Dividend payout ratio for 2012 c.50%
    Implementation of the share buyback programme between 13 November 2012 and 29 July 2013, with shares to the amount of USD 1,251 million subject to cancellation

 

Source : Neftegaz.RU