OREANDA-NEWS. August 16, 2007.  OJSC EuroChem MCC summarized the results of performance on the basis of international financial reporting standards over the first quarter of 2007 on a consolidated basis for the group of companies.

Net sale proceeds – 15 585 million rubles (in the 1st quarter of 2006 – 14 233 million rubles).

Earnings before depreciation, financial costs and profit on tax (EBITDA) – 4 946 million rubles (in the 1st quarter of 2006 – 4 373 million rubles )
Net profit – 2 881 million rubles (in the 1st quarter of 2006– 2 675 million rubles).

Increase of profit in the 1st quarter of 2007 is associated with favorable situation in external and domestic markets which in its turn compensated increase in tariffs for natural gas and power, increase of prices for fuel as well as growth of salaries.

To remind, rating agencies Fitch and Standard&Poor’s OJSC EuroChem MCC in February 2007 was assigned with the credit rating ВВ-, in March the company executed successful offering of Euro bonds at the total amount of 300 million dollars.

The consolidated financial report over the 1st quarter of 2007 on the basis of IFRS is available at Internet site of the company at the address
http://www.eurochem.ru/files/20070815182849_7382.pdf