PhosAgro demonstrated impressive financial results
PhosAgro reported its 1Q2021 financial results: revenue of the company increased by 36.7% (compared to the same period last year) and amounted to 87.579 billion rubles (approximately $1.2 billion), adjusted net profit raised by 28% to 21.229 billion rubles (approximately $288.3 million).
“In 1Q2021 the company’s revenue exceeded 87 billion rubles (approx. $1.2 billion), having increased by almost 37%, and EBITDA increased by more than 65% to a record 34.3 billion rubles (about $466 million) for the entire public history of the company.
The efficiency of production facilities and a high level of provision with key raw materials allowed us to increase the EBITDA margin to almost 40% and generate a free cash flow of over 15 billion rubles (about $204 million),” said PhosAgro CEO Andrey Guryev. “Such a significant increase in business profitability is associated with large-scale investments in development that the company has been making since 2013, and favorable market conditions in early 2021 have strengthened this effect.”