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EuroChem Group AG reports 2016 financial information

Published by , Digital Assistant Editor
World Fertilizer,

EuroChem Group AG has reported consolidated sales for 4Q16 of US$1.05 billion bringing the group’s sales for the year ended 31 December 2016 to US$4.38 billion, as compared to US$4.54 billion in 2015.

Pressured by lower market prices and currency movements, fourth quarter earnings before interest, taxes, depreciation and amortisation (EBITDA) declined 22% year-on-year to US$283 million. The final quarter of the year brought the Group’s full-year EBITDA to US$1.10 billion, which was 30% below 2015 EBITDA of US$1.58 billion.

Buoyed by higher production and the expansion of the Group’s distribution network, fourth-quarter fertilizer sales volumes grew 16% year-on-year and amounted to 3.30 million t of product. The fourth quarter’s strong growth lifted annual fertilizer sales volumes 20% to 13.61 million t, as compared to 11.38 million t in 2015. The acquisition and consolidation of distribution assets in the US and Brazil supported a 60% year-on-year growth in sales of third-party products, which the Group also sells through its network. For the year-ended 31 December 2016, the Group sold 3.41 million t of third-party products, including 1.24 million t of urea and 1.22 million t of ammonium sulfate.

“The expansion of our distribution reach, together with a robust logistics platform, allowed us to channel a considerable amount of additional products through our system”, said EuroChem CEO Dmitry Strezhnev. “This effectively optimises our network as we grow our production volumes and expand our offering ahead of the start of our potash operations later this year.”

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