Uralkali demonstrated strong 1H2021 financial performance

Uralkali reported its 1H2021 results following the international financial reporting standards.

As follows from the press-release of Uralkali, the company’s revenue in the January-June period of 2021 increased by 10% to $1.46 million. Net profit amounted to $535 million against a loss of $180 million in the same period in 2020.

The production of potassium chloride increased by 19% to 6.2 million tons, while its sales reduced by 2% to 6 million tons. Of their total sales volume, 1.4 million tons of potassium chloride were supplied to the domestic market and 4.6 million tons were exported.

“The gradual recovery in demand in the main consumption markets of Uralkali’s products amid the general growth in prices for potassium chloride allowed the company to achieve good financial results at the end of the reporting period. The fundamental characteristics of the industry remain strong, and we believe that the market conditions will continue to improve in the second half of 2021,” said Vitaly Lauk, CEO of Uralkali.