Today Acron (RTS, MICEX and LSE: AKRN) announced its unaudited RAS results for Q1 2010.
Financial Highlights
• Revenue totalled RUB 5,199 million which is almost equal to RUB 5,224 million in Q1 2009.
• Sales profit was RUB 1,315 million, down 18% from RUB 1,607 million in Q1 2009.
• EBITDA* shrank 16% year-on-year to RUB 1,429 million (Q1 2009: RUB 1,708 million).
• EBITDA margin was 27%, down from 33% in Q1 2009.
• Net profit totalled RUB 1,190 million, including a gain of RUB 250 million due to a mark-to-market revaluation of Acron’s financial investments. Net profit before the revaluation was RUB 940 million against a net loss of RUB 563 million year-on-year.
* EBITDA is calculated as operating profit (sales profit) plus depreciation and amortisation.
Acron Output
|
|
Q1 2010
(’000 t)
|
Q1 2009
(’000 t)
|
YOY
|
|
Ammonia
|
270.0
|
287.2
|
-6%
|
|
incl. consumption for own needs
|
207.4
|
227.9
|
|
|
Nitrogen fertilisers:
|
331.5
|
373.0
|
-11%
|
|
incl. consumption for own needs
|
72.3
|
60.7
|
|
|
AN
|
92.4
|
162.0
|
-43%
|
|
incl. consumption for own needs
|
8.2
|
12.8
|
|
|
Urea
|
109.5
|
123.7
|
-11%
|
|
incl. consumption for own needs
|
64.1
|
47.9
|
|
|
UAN
|
129.6
|
87.3
|
48%
|
|
Complex fertilisers:
|
273.6
|
228.1
|
20%
|
|
incl. consumption for own needs
|
0.0
|
5.5
|
|
|
NPK
|
273.6
|
215.5
|
27%
|
|
incl. consumption for own needs
|
0.0
|
5.5
|
|
|
Dry blends
|
0.0
|
12.6
|
-100%
|
|
Organic compounds:
|
90.9
|
82.5
|
10%
|
|
incl. consumption for own needs
|
45.8
|
43.8
|
|
|
Methanol
|
20.0
|
15.6
|
28%
|
|
incl. consumption for own needs
|
16.8
|
15.2
|
|
|
Formalin
|
32.0
|
30.4
|
5%
|
|
incl. consumption for own needs
|
28.9
|
28.3
|
|
|
Urea-formaldehyde resins
|
38.9
|
36.5
|
7%
|
|
incl. consumption for own needs
|
0.1
|
0.3
|
|
|
Inorganic compounds:
|
140.7
|
128.2
|
10%
|
|
Low-density and technical grade ammonium nitrate
|
45.1
|
50.4
|
-11%
|
|
Calcium carbonate
|
91.1
|
73.0
|
25%
|
|
Liquid carbon dioxide
|
2.8
|
3.1
|
-10%
|
|
Argon
|
1.7
|
1.7
|
