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Dorogobuzh Releases RAS Statements for H1 2009

Today Dorogobuzh (a company in the Acron Group) announced its non-audited RAS results for H1 2009.

Financial Highlights

  • Revenue totalled RUB 5.12 billion, down 8% year-on-year (H1 2008: RUB 5.57 billion).
  • Operating profit was RUB 1.40 billion, down 44% from RUB 2.51 billion in H1 2008.
  • EBITDA* shrank 41% year-on-year to RUB 1.51 billion (H1 2008: RUB 2.57 billion).
  • EBITDA margin was 29%, down from 46% in H1 2008.
  • Net profit totalled RUB 2.39 billion, including a gain of RUB 1.46 billion due to a mark-to-market revaluation of Dorogobuzh’s financial investments. Net profit before revaluation was down56% year-on-year to RUB 931 million, against RUB 2.13 billion in H1 2008.

*EBITDA is calculated as operating profit plus depreciation and amortization.

Dorogobuzh Output

H1 2009 (‘000 tonnes) H1 2008 (‘000 tonnes) YOY, %
Ammonia 274.2  224.5  22%
incl. consumption for own needs 272.8 223.7
Nitrogen fertilisers- ammonium nitrate 488.4  392.8 24%
incl. consumption for own needs 15.6 44.8
Complex fertilisers, incl.: 285.4 233.4  22%
incl. consumption for own needs 9.0 4.5
NPK 260.6 225.9  15%
incl. consumption for own needs 9.0 4.5
Dry blends 24.8  7.5  231%
Inorganic compounds, incl.: 96.3  127.7  -25%
Low-density and technical grade ammonium nitrate 0.0  37.7 
Calcium carbonate 85.4 74.4  15%
Liquid carbon dioxide 10.9  15.6  -30%

 Download Financial Statements (in Russian)