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%
|
Financial Statements in Russian