KuibyshevAzot profitability has shrunk sharply
In 2019, the KuibyshevAzot plant (Togliatti, Samara Region) reduced the ammonia output by 1.9% to 1.085 million tons, however, it increased the production of ammonium nitrate by 7.6% to 672.8 thousand tons, that of urea by 2.9% to 366.9 thousand tons, and ammonium sulfate by 0.2% to 531.5 thousand tons.
The revenue decreased by 9.7% to 53.9 billion rubles (almost $ 875.5 million), and the net profit fell by 43.7% to 4 billion rubles (approximately $ 65 million). In its press release, KuibyshevAzot named the deterioration of the market conditions for ammonia and other products and the rising energy prices as the reasons for the decline in the financial indicators.
In 2019, a large amount of work was completed on the construction of new production facilities and technical re-equipment of the existing ones, for example, an ammonia unit was being created.