Today Acron (RTS, MICEX and LSE: AKRN) released its non-audited RAS financial statements and operating results for H1 2010.
Financial Highlights
- Revenue totalled RUB 10.67 billion, up 7% year-on-year (H1 2009: RUB 9.96 billion).
- Sales profit was RUB 2.7 billion, down 11% from RUB 3.03 billion in H1 2009.
- EBITDA* shrank 10% year-on-year to RUB 2.93 billion (H1 2009: RUB 3.24 billion).
- EBITDA margin was 27%, down from 33% in H1 2009.
- Net loss totalled RUB 2.07 billion, which was affected by a negative RUB 3.45 billion mark-to-market revaluation of Acron’s financial investments. Net profit before revaluation of the financial investments was RUB 1.38 billion (H1 2009: RUB 1.32 billion).
*EBITDA is calculated as operating profit (sales profit) plus depreciation and amortisation.
Acron Output
H1 2010 (‘000 t) |
H1 2009 (‘000 t) |
YOY | |
---|---|---|---|
Ammonia | 559 | 518 | 8% |
incl. consumption for own needs | 437 | 43 | |
Nitrogen fertilisers | 678 | 655 | 4% |
incl. consumption for own needs | 124 | 93 | |
Ammonium nitrate | 231 | 295 | -22% |
incl. consumption for own needs | 10 | 13 | |
Urea | 224 | 231 | -3% |
incl. consumption for own needs | 114 | 80 | |
Urea-ammonium nitrate (UAN) | 223 | 129 | 73% |
Complex fertilisers | 568 | 479 | 19% |
incl. consumption for own needs | 0 | 6 | |
NPK | 568 | 466 | 22% |
incl. consumption for own needs | 0 | 6 | |
Bulk blends | 0 | 13 | |
Organic compounds | 177 | 16 | 7% |
incl. consumption for own needs | 88 | 87 | |
Methanol | 42 | 3 | 31% |
incl. consumption for own needs | 32 | 31 | |
Formalin | 61 | 60 | 2% |
incl. consumption for own needs | 55 | 56 | |
Urea-formaldehyde resins (UFR) | 74 | 72 | 2% |
Non-organic compounds | 295 | 266 | 11% |
Low-density and technical-grade ammonium nitrate | 93 | 98 | -4% |
Calcium carbonate | 191 | 158 | 21% |
Liquid carbon dioxide | 8 | 7 | 9% |
Argon | 3 | 3 |