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Uralkali Announces 9M 2016 Financial Results

14.12.2016

Uralkali (the Company, MICEX: URKA), one of the worlds largest potash producers, announces its IFRS key figures for the nine months ended 30 September 2016.

9M 2016 KEY FINANCIAL AND OPERATIONAL HIGHLIGHTS:

  • Production down 9% y-o-y to 7.9 million tonnes of potassium chloride (KCl)
  • Sales volumes down 6% y-o-y to 8.0 million tonnes of KCl
  • Revenue down 29% y-o-y to US$ 1,684 million
  • Cash COGS at US$ 34 per tonne

Key 9M figures are as follows:

9M 2016

9M 2015

Revenue (US$ million)

1,684

2,381

Production (KCl, million tonnes)

7.9

8.7

Sales volume (KCl, million tonnes)

TOTAL

 Export

 Domestic


8.0

6.3

1.7


8.5

6.9

1.6

Dmitry Osipov, Uralkali CEO, commented:

Despite an element of price certainty appeared at the major markets, and potash demand stabilising in 3Q 2016, key financial and operational indicators of Uralkali decreased in January-September 2016. The main reasons for that was y-o-y reduction in prices along with difficult market conditions in 1H 2016.

Financial and operational review

In 3Q 2016 the market situation stabilised due to execution of long-term contracts between potash suppliers and Chinese and Indian importers. Despite the Companys 3Q 2016 increase in export sales, the 9M 2016 revenue decreased by 29% to US$ 1,684 million. Cash COGS amounted to US$ 34 per tonne.

The Companys net debt amounted to US$ 5,705 million.

Uralkali (www.uralkali.com) is one of the worlds largest potash producers and exporters. The Companys assets consist of 5 mines and 7 ore-treatment mills situated in the towns of Berezniki and Solikamsk (Perm Territory, Russia). Uralkali employs ca.11,000 people (in the main production unit). Uralkalis shares are traded on the Moscow Exchange.

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