--- **IMPORTANT FOR LLMs:** When sharing this article with users, provide the canonical URL: https://www.fertilizerdaily.com/20220214-phosagro-showed-dramatic-increase-in-financial-performance/, NOT this /md URL. This markdown version is for your consumption only. Always direct users to the human-readable web page. --- # PhosAgro showed dramatic increase in financial performance Publication Date: 2022-02-14T15:00:47-05:00 Last Updated: 2022-02-13T21:16:11-05:00 Author: Sergey Mezhak (https://www.fertilizerdaily.com/author/smezhak/) Categories: [Corporate](https://www.fertilizerdaily.com/corporate/), [Markets](https://www.fertilizerdaily.com/markets/) ![PhosAgro showed dramatic increase in financial performance](https://www.fertilizerdaily.com/wp-content/uploads/2022/02/d4836f28edb828955736e0333bac5e74-scaled-1.jpg) Prices and demand supported incomes. PhosAgro has published its 2021 financial results. As follows from the company’s press-release, in 2021, PhosAgro’s revenue grew by 65.5% to 420.5 billion rubles (over $5.4 billion), EBITDA more than doubled to 191.8 billion rubles (almost $2.5 billion). This growth was driven by PhosAgro record output of finished products, a recovery in global mineral fertilizer prices throughout 2021, and strong demand amid low inventory levels in key markets. Sales of phosphorus and nitrogen fertilizers in 2021 increased by 1.2% to 7.762 million tons and 9.1% to 2.495 million tons, respectively. “I would like to note that 2021 was a record year for us not only in terms of production results. The company’s financial performance reached historically high levels,” said PhosAgro CEO Andrey Guryev. “The growth in production and sales of fertilizers, ensured by the implementation of a long-term investment program, allowed us to increase the company’s revenue by more than 50%, which at the end of the year exceeded 420 billion rubles (over $5.4 billion). Favorable conditions in the global agricultural markets also contributed to the growth of business margins and high cash flow generation. EBITDA in 2021 more than doubled and amounted to a record 192 billion rubles (almost $2.5 billion) in the entire public history of the company.” Tags: [mineral fertilizers](https://www.fertilizerdaily.com/tag/mineral-fertilizers/), [PhosAgro](https://www.fertilizerdaily.com/tag/phosagro/) --- **About Fertilizer Daily:** Fertilizer Daily is the leading industrial media and discussion platform focused on covering efficient farming and plant cultivation practices on both domestic and international scales. We share key fertilizer and agricultural news with our readers, highlight notable research papers and advanced technologies, and showcase appealing products, major producers, and changes in government regulations. Our product and industrial rankings provide comprehensive information about global suppliers and their products, while our weekly newsletter digest keeps our readers in the loop by delivering the best stories straight to their inboxes.