OREANDA-NEWS. On 31 July 2009 Dorogobuzh (a company in the Acron Group) announced its non-audited RAS results for H1 2009.

Financial Highlights

• Revenue totalled RUB 5.12 billion, down 8% year-on-year (H1 2008: RUB 5.57 billion).

• Operating profit was RUB 1.40 billion, down 44% from RUB 2.51 billion in H1 2008.

• EBITDA* shrank 41% year-on-year to RUB 1.51 billion (H1 2008: RUB 2.57 billion).

• EBITDA margin was 29%, down from 46% in H1 2008.

• Net profit totalled RUB 2.39 billion, including a gain of RUB 1.46 billion due to a mark-to-market revaluation of Dorogobuzh’s financial investments. Net profit before revaluation was down56% year-on-year to RUB 931 million, against RUB 2.13 billion in H1 2008.

*EBITDA is calculated as operating profit plus depreciation and amortization.

Dorogobuzh Output

 

H1 2009

(‘000 tonnes)

H1 2008

(‘000 tonnes)

YOY, %

Ammonia

274.2 

224.5 

22%

incl. consumption for own needs

272.8

223.7

 

Nitrogen fertilisers – ammonium nitrate

488.4 

392.8

24%

incl. consumption for own needs

15.6

44.8

 

Complex fertilisers, incl.:

285.4 

233.4 

22%

incl. consumption for own needs

9.0

4.5

 

NPK

260.6

225.9 

15%

incl. consumption for own needs

9.0

4.5

 

Dry blends

24.8 

7.5 

231%

Inorganic compounds, incl.:

96.3 

127.7 

-25%

Low-density and technical grade ammonium nitrate

0.0 

37.7 

 

Calcium carbonate

85.4

74.4 

15%

Liquid carbon dioxide

10.9 

15.6 

-30%