PhosAgro Phosphate-Based Fertilizer Sales Increased 6.6% in 1H

OREANDA-NEWS. July 31, 2012. PhosAgro (MICEX-RTS, LSE: PHOR), a leading global vertically integrated phosphate-based fertilizer producer, announces its production update for the first six months of 2012. The Company increased phosphate-based fertiliser sales volumes in the first six months of 2012 by 6.6% year-on-year (y-o-y), while production of phosphate-based fertilisers for the same period increased by 6.4% y-o-y.

PhosAgro’s production and sales volumes for the first six months of 2012 are summarized in the tables below. 

PhosAgro CEO Maxim Volkov said: “I am pleased to announce a 6.4% rise in production and a 6.6% rise in sales of phosphate-based fertilisers in the first six months of 2012. This was possible due to the successful implementation of our strategy to grow organically by increasing processing of our own phosphate rock for phosphate-based fertilisers like MAP, DAP, NPK and NPS, as well as enhancing the flexibility of both our production and sales models. We were able to increase substantially volumes of complex NPK fertilisers while DAP prices were under pressure, and to keep capacity utilization at close to 100%, with a significant y-o-y increase in volumes. With soft commodity prices exceptionally high and balanced supply and demand in the phosphate fertilizer market, our view for the rest of 2012 remains positive.”

The table below provides the first six months of 2012 breakdown of production volumes by major product: 

The table below provides the first six months of 2012 breakdown sales volumes by major product: