Uralkali Announces H1 2009 Financial Results

15.09.2009 — News

THE PERM KRAI.

The Board of Directors of JSC Uralkali has approved the Consolidated Condensed Interim Financial Information for the first half of 2009, prepared under International Accounting Standards №34 (Interim Financial Reporting). The company informed RusBusinessNews that according to the financial results revenues amounted to 13.87 billion roubles, net sales - 12.55 billion roubles, EBITDA - 7.41 billion roubles, EBITDA margin - 59%, net profit - 4.5 billion roubles. 

Potassium chloride sales in the first half of 2009 amounted to 900 thousand tons. Production of potassium chloride amounted to 1,135 thousand tons in the first half of 2009.

The global economic crisis forced the buyers in the first half of 2009 to be very cautious and this caused the sales during this period to be lower than usual. Uralkali, nevertheless, counts on the long term contracts with the key global consumers making it possible to increase the workload of the company's capacities and the production volumes. 

Uralkali in its work adheres to the long term development strategy and through the employment of the low cost production model and paying a lot of attention to products quality the company has enough resources at its disposal to effectively increase production in line with the recovering demand in the global potassium market.