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Acron releases 1Q18 results

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World Fertilizer,

Acron has released its consolidated 1Q18 IFRS financial statements, reporting revenue of US$423 million, a 3% increase from US$409 million in 1Q17.

In addition to this, the company also reported that EBITDA increased 11% from US$126 million in 1Q17 to US$140 million in 1Q18. EBITDA margin was 33%, against 31% yr/yr. Furthermore, the company reported that net profit increased 2.6 fold to US$73 million, against US$27 million yr/yr. Net debt was up 5% to US$1096 million compared to US$1045 million in 1Q17.

Acron also claims that output of key products was 1.90 million t, a 7% increase yr/yr. Sales of key products, meanwhile, totalled 1.81 million t, an increase of 1% yr/yr.

Alexander Popov, Chair of Acron's Board of Directors, said: “Acron Group's financial performance is sustainably on an upward drive.

“The Group's new investment programme has built-in flexibility to allow us to adjust our annual volume of investments. In 2Q18, we started construction of vertical shafts at the Talitsky site using the Group's equity, and slightly adjusted the deadlines for several investment projects at Acron (Veliky Novgorod) and Dorogobuzh. This year, the Group's CAPEX totals approximately US$200 million. We will continue to focus on paying dividends while our debt burden remains moderate.”

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