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Acron Releases Q1 2010 Consolidated RAS Statements

Today Acron (RTS, MICEX and LSE: AKRN) released its unaudited consolidated RAS statements for Q1 2010.

Financial Highlights

• Revenue totalled RUB 11.462 billion, up 16% year-on-year (Q1 2009: RUB 9.886 billion)
• Operating profit was RUB 2.497 billion, up 24% from RUB 2.022 billion in Q1 2009.
• EBITDA* increased 23% year-on-year to RUB 2.764 billion (Q1 2009: RUB 2.249 billion)
• EBITDA margin was 27%, slightly up from 26% in Q1 2009
• Net profit totalled RUB 1.123 billion, including a loss of RUB 314 million due to a mark-to-market revaluation of Acron’s financial investments. Net profit before revaluation was RUB 1.437 billion against net loss of RUB 1.047 billion year-on-year

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

Acron Output (Group Total)

 
Q1 2010
‘000 t
Q1 2009
‘000 t
YOY
Ammonia
438.7
434.2
1%
incl. consumption for own needs
366.4 
367.2 
Nitrogen fertilisers:
571.1 
630.8 
-10%
incl. consumption for own needs
80.4 
73.8 
AN
332.0 
419.8 
-21%
incl. consumption for own needs
16.3 
25.9 
Urea
109.5 
123.7 
-12%
incl. consumption for own needs
64.1 
47.9 
UAN
129.6 
87.3 
49%
Complex fertilisers:
591.1 
435.4 
36%
incl. consumption for own needs
5.5 
12.9 
NPK
560.5 
377.9 
48%
incl. consumption for own needs
5.5 
12.9 
Dry blends
30.6 
57.5 
-47%
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%
Inorganic compounds:
237.2 
182.7 
30%
Low-density and technical grade AN
45.1 
50.4  
-11%
Calcium carbonate
141.3 
108.6 
30%
Liquid carbon dioxide
8.1 
7.1 
14%
Argon
1.7 
1.7
0%
Hydrochloric acid
41.0
14.9
175%
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