KuibyshevAzot’s profit drastically declined
In January-March this year, the KuibyshevAzot plant (Samara region, Togliatti) reduced its product sales by 6.9% to 13.7 billion rubles. The company’s net profit collapsed by 26 times to 77 million rubles.
According to the KuibyshevAzot press-release, the key reasons for such a dramatic reduction in the net profit are a decrease in demand and unfavorable price environment.
Ammonia production declined by 0,9% in the first quarter of 2020. However, ammonium nitrate output increased by 7,3%. As well as the run-out of carbamide — by 0,2%, ammonium sulfate — by 8,8% and carbamide-ammoniac compound — by 87,6%.
Despite the tough economic situation, the company proceeds with the implementation of the highest-priority investment projects. At the moment it is carrying out pre-commission activities at the production of ammonium sulfate-nitrate.
The construction of a plant for the K-grade sulfuric acid, improved oleum with a total capacity of 500 thousand tons per year and a new carbamide unit is continuing.