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PhosAgro reports higher 2012 sales and earnings, starts construction on several projects

3:45 AM MDT | April 24, 2013 | Natasha Alperowicz

PhosAgro (Moscow) reports a 9% rise in full-year 2012 net income, to 24.5 billion Russian rubles ($788 million), on 5% higher revenues, of R105.3 billion. Ebitda, however, was 2% lower, at R34.7 billion, and Ebitda margin was down at 33% compared with 35% in 2011. Earnings per share were 3% higher, at R166. The company sold 4.24 million m.t. of phosphate fertilizers, 4% more than in 2011. Nitrogen fertilizer sales were up 23%, at 1.09 million m.t., following the commissioning of a 500,000-m.t./year urea plant in the second half of 2012, which doubled the...

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