EuroChem made good profits on the rise in prices
EuroChem reported the January-June 2021 financial results. According to the company’s press-release, its revenue increased by 45% to $4.366 billion, free cash flow by 131% to $783 million. Sales of mineral fertilizers rose by 6% to 9.752 million tons.
“Even though higher prices and favorable exchange rates contributed to the revenue increase, these results reflect the new level of production performance across all enterprises, driven by the introduction there the best available technologies, modernization programs, new product lines, and improved operational efficiencies by methodically identifying and eliminating suboptimal practices at all stages of the value chain,” said Vladimir Roshevsky, Chief Executive Officer of EuroChem.