Group’s Consolidated Output (Operating Results for Acron, Dorogobuzh, Hongri Acron and NWPC)
Chemical products
| Stated in ‘000 tonnes | 1Q 2013 | 1Q 2012 | YOY (%) |
| Ammonia | 482.4 | 475.1 | 2 |
| Incl. in-house consumption | 449.9 | 439.0 | |
| Nitrogen fertilisers, including: | 752.6 | 688.5 | 9 |
| Incl. in-house consumption | 119.4 | 101.3 | |
| Ammonium nitrate | 413.1 | 419.0 | (1) |
| Incl. in-house consumption | 32.4 | 31.2 | |
| Urea | 152.0 | 125.3 | 21 |
| Incl. in-house consumption | 87.0 | 70.1 | |
| Urea-ammonium nitrate (UAN) | 187.5 | 144.2 | 30 |
| Complex fertilisers, including: | 693.2 | 735.7 | (6) |
| Incl. in-house consumption | 10.4 | 17.1 | |
| NPK | 597.0 | 637.6 | (6) |
| Incl. in-house consumption | 10.4 | <17.1 | |
| Bulk blends | 96.2 | 98.1 | (2) |
| Organic compounds, including: | 98.3 | 90.4 | 9 |
| Incl. in-house consumption | 49.8 | 47.7 | |
| Methanol | 21.6 | 18.5 | 17 |
| Incl. in-house consumption | 18.2 | 17.2 | |
| Formalin | 34.1 | 32.5 | 5 |
| Incl. in-house consumption | 31.4 | 30.3 | |
| Urea-formaldehyde resins (UFR) | 42.6 | 39.4 | 8 |
| Non-organic compounds, including: | 161.9 | 191.8 | (16) |
| Low-density and technical-grade ammonium nitrate | 60.3 | 63.2 | (5) |
| Calcium carbonate | 52.0 | 78.6 | (34) |
| Liquid carbon dioxide | 11.4 | 12.4 | (8) |
| Argon | 1.7 | 1.9 | (12 |
| Hydrochloric acid | 36.5 | 35.7 | 2 |
| TOTAL COMMERCIAL OUTPUT (output less own consumption) | 1,558.9 | 1,576.5 | (1) |
Phosphate inputs
| Stated in ‘000 tonnes | 1Q 2013 | 1Q 2012 | YOY (%) |
|
Apatite-nepheline ore
Extraction | 767.7 | - | - |
| Sales to the third parties | 133.2 | - | - |
| Apatite concentrate (production) | 105.2 | - | - |
Acron Board of Directors Chair Alexander Popov comments on the results:
“In the first quarter 2013, the Group’s total commercial output was 1.6 million tonnes and did not change year-on-year. The Oleniy Ruchey mine has been gradually expanding its apatite concentrate production (from 21,000 tonnes in December 2012 to 45,000 tonnes in March 2013). We plan to reach 60,000 tonnes per month by the end of the second quarter 2013, which will allow the Group’s Russian production facilities to produce NPK using wholly owned phosphate raw materials.
“The Group’s operating results for the first quarter 2013 were affected by several factors. Ammonia production was up due to an increase in capacity of the ammonia units at Acron (Veliky Novgorod) and Dorogobuzh after completion of a scheduled upgrade in 2012. Urea and UAN output increased 21% and 30% with the launch of a new urea unit. NPK production was down since part of our capacity was redirected to nitrogen fertiliser production to meet seasonal high demand for nitrogen products.
“Structural changes in the product portfolio resulted in higher UFR output. Acron keeps retargeting its production at Russia’s resins of choice with a low formaldehyde grade. Non-organic compounds output was down due to weak domestic demand.
“In the first quarter 2013, the global mineral fertiliser market saw different trends. Nitrogen segment prices were up due to high demand for ammonium nitrate, urea and UAN before the spring sowing season. Complex fertiliser prices and demand were under pressure because of a decrease in global prices for phosphate and potash fertilisers.”
Global Average Prices, USD per tonne*
| 1Q 2013 | 1Q 2012 | YOY (%) | |
|---|---|---|---|
| NPK 16-16-16 | 409 | 451 | (9) |
| AN | 335 | 310 | 8 |
| UAN | 310 | 265 | 17 |
| Urea | 383 | 381 | 1 |
* Indicative FOB Baltic / Black Sea
Operating Results for Acron, Dorogobuzh and Hongri Acron