PhosAgro achieved record cash flow
In 2020, PhosAgro increased its revenue by 2.3% to 253.879 billion rubles (approximately $3.415 billion) and cash flow by 50.4% to 42.517 billion rubles (about $571.9 million).
The sales of mineral fertilizers increased by 5.3% to almost 10 million tons, including nitrogen fertilizers by 4.5% to 2.286 million tons and phosphorus fertilizers by 5.7% to 7.669 million tons.
“2020 became the year of the company’s records, both in terms of production volumes and the ability to generate cash flow. The implementation of the long-term development program allowed us to produce more than 10 million tons of marketable products in a year and increase fertilizer sales by more than 5% by the end of the year,” said Andrey Guryev PhosAgro CEO. “Growth in fertilizer sales amid the favorable global market environment ensured an increase in EBITDA. Moreover, we managed to achieve record indicators in terms of the growth of cash flow, which exceeded 42 billion rubles (approximately $565 million), an increase of more 1.5 times compared to the previous year.”