Skip to main content

PhosAgro reports 1Q21 financial results

Published by , Editor
World Fertilizer,


PhosAgro has announced its consolidated IFRS financial results for 1Q21.

Revenue for 1Q21 increased by 36.7% year-on-year to RUB87.6 billion (US$1.2 billion), driven by improvements in the pricing environment, higher sales volumes and changes in exchange rates.

EBITDA increased by 65.4% year-on-year to RUB34.3 billion (US$461 million) thanks to higher global fertilizer prices. EBITDA margin for the quarter rose to 39.2%.

Free cash flow in 1Q21 amounted to RUB15.2 billion (US$205 million), a decrease of 16.6% year-on-year but a more than fivefold increase from 4Q20.

Adjusted net income in 1Q21 was RUB21.2 billion (US$286 million), up 28% year-on-year.

As of 31 March 2021, net debt was RUB145.4 billion (US$1.9 billion), a decrease of RUB11.5 billion since the end of 2020. As of the end of 1Q21, the net debt/EBITDA ratio had decreased to 1.45x.

In its market outlook the company said that risk factors in the short term will include an increase in fertilizer exports from China and a possible decrease in import demand from India due to higher global prices, while subsidies for fertilizer purchases will remain unchanged from the previous year.


Read the latest issue of World Fertilizer in full for free: April 2021

The April issue of World Fertilizer begins with a regional report that examines the opportunities and challenges currently facing Latin America’s fertilizer industry. The remainder of the issue is dedicated to a range of technical articles covering ammonia, blending and bagging, plant design, fertilizer cargo measurement and fertilizer storage. Our World Review of fertilizer projects in Africa and the Middle East, Asia Pacific, Europe and CIS and the Americas rounds off the issue.

Read the article online at: https://www.worldfertilizer.com/phosphates/19052021/phosagro-reports-1q21-financial-results/

You might also like

 
 

Embed article link: (copy the HTML code below):


 

This article has been tagged under the following:

PhosAgro news