PhosAgro news

The company's revenue in 3Q19 rose by 3% y/y to RUB64.6 billion (US$1.0 billion) mainly due to higher sales in priority markets. Revenue for 9M19 increased by 12% y/y to RUB195.0 billion (US$3.0 billion).

The two companies agreed to evaluate opportunities to exchange information and technical expertise in order to increase the capacity of the South African company’s projects both in South Africa itself, including Elandsfontein, the country’s second largest phosphate deposit, and in the Republic of the Congo and Ghana.

The company's total fertilizer production in 3Q19 increased by 15.2% y/y to 2460.4 kt. Fertilizer output for 9M19 grew by 7.2% y/y to 7162.0 kt.

The association includes international companies and organisations involved in fertilizer production, the search for innovative solutions and research in the field of fertilizers, phosphorus management and recycling, and mineral and organic fertilizer innovation.

The company is intending to invest US$3 billion in growth and modernisation by 2025.

PhosAgro-Region (a PhosAgro subsidiary) increased the total volume of mineral fertilizer sales to Russian agricultural producers by 14.3% y/y to 1.65 million t in 1H19.

Andrey Guryev, PhosAgro CEO and head of the Russian Fertilizer Producers Association has been elected chairman of the Russia–Brazil Business council.

PhosAgro has announced that an extraordinary general meeting of shareholders has approved the payment of dividends in the amount of RUB9324 million, or RUB72/share.

The board of directors also re-elected as its deputy chairman Andrey Guryev, vice president of the Russian Union of Chemists.

PhosAgro has welcomed the final decision taken at the level of the European Parliament and the European Council to limit the sale of phosphate-based fertilizers containing high levels of heavy metals everywhere in the EU from 2022.