Acron became profitable again
Acron Group reported its 1Q2021 financial results. According to the company’s press-release, its revenue increased by 39% to 38.952 billion rubles (approximately $528.2 million). The net profit of Acron Group amounted to 10.615 billion rubles (approximately $144 million) against a loss of 10.126 billion rubles (approximately $137.4 million) in the same period last year.
“In 1Q2021 Acron Group increased its sales of core products by 6% to a record 2.1 million tons, which became possible due to implementation of three investment projects over the past year. This year we also continue the implementation of our investment program, thus, the Carbamide 6+ project is entering its final stage of construction. In 1Q2021 $44 million were allocated for capital investments,” said Alexander Popov, Chairman of the Board of Directors of Acron Group.