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Uralkali reports lower profits on higher sales as potash markets stabilize

8:38 AM MDT | August 29, 2014 | Natasha Alperowicz

Uralkali (Berezniki, Russia), a leading global producer of potash, today reported a 7% drop in net profit in the first six months of the year to $370 million on 7% higher revenue of $1.73 billion. Ebitda was down 12% year-on-year (YOY) to $767 million and Ebitda margin declined from 65% in the first half of 2013 to 58% in the latest six months. Uralkali reported a 33% higher YOY production of potassium chloride (KCl) at 6.0 million m.t.. Sales volumes of KCl were up 42% to 6.1 million m.t. But the average export price was down 30% compared with the year-earlier...

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