OREANDA-NEWS. May 17, 2010. Acron (RTS, MICEX and LSE: AKRN) announced its unaudited RAS results for Q1 2010.

Financial Highlights

• Revenue totalled RUB 5,199 million which is almost equal to RUB 5,224 million in Q1 2009.

• Sales profit was RUB 1,315 million, down 18% from RUB 1,607 million in Q1 2009.

• EBITDA* shrank 16% year-on-year to RUB 1,429 million (Q1 2009: RUB 1,708 million).

• EBITDA margin was 27%, down from 33% in Q1 2009.

• Net profit totalled RUB 1,190 million, including a gain of RUB 250 million due to a mark-to-market revaluation of Acron’s financial investments. Net profit before the revaluation was RUB 940 million against a net loss of RUB 563 million year-on-year.

* EBITDA is calculated as operating profit (sales profit) plus depreciation and amortisation.

Acron Output

 

Q1 2010

(’000 t)

Q1 2009

(’000 t)

YOY

Ammonia

270.0

287.2

-6%

incl. consumption for own needs

207.4

227.9

 

Nitrogen fertilisers:

331.5

373.0

-11%

incl. consumption for own needs

72.3

60.7

 

AN

92.4

162.0

-43%

incl. consumption for own needs

8.2

12.8

 

Urea

109.5

123.7

-11%

incl. consumption for own needs

64.1

47.9

 

UAN

129.6

87.3

48%

Complex fertilisers:

273.6

228.1

20%

incl. consumption for own needs

0.0

5.5

 

NPK

273.6

215.5

27%

incl. consumption for own needs

0.0

5.5

 

Dry blends

0.0

12.6

-100%

Organic compounds:

90.9

82.5

10%

incl. consumption for own needs

45.8

43.8

 

Methanol

20.0

15.6

28%

incl. consumption for own needs

16.8

15.2

 

Formalin

32.0

30.4

5%

incl. consumption for own needs

28.9

28.3

 

Urea-formaldehyde resins

38.9

36.5

7%

incl. consumption for own needs

0.1

0.3

 

Inorganic compounds:

140.7

128.2

10%

Low-density and technical grade ammonium nitrate

45.1

50.4

-11%

Calcium carbonate

91.1

73.0

25%

Liquid carbon dioxide

2.8

3.1

-10%

Argon

1.7

1.7