Acron Releases 2009 Operating Results
(Thomson Reuters ONE) - January 20, 2010 Acron Releases 2009 Operating Results Group's Consolidated Output (Operating Results for Acron, Dorogobuzh and Hongri Acron) Stated in '000 tonnes 2009 2008 YOY, %------------------------------------------------------------------------- Ammonia 1,682 1,494 13% incl. own use 1,425 1,242 15%------------------------------------------------------------------------- Straight nitrogen fertilisers, including: 2,202 1,710 29% incl. own use 249 260 -4% Ammonium nitrate 1,435 997 44% incl. own use 63 59 5% Urea 450 449 0% incl. own use 186 200 -7% Urea-ammonium nitrate (UAN) 318 264 20%------------------------------------------------------------------------- Complex fertilisers, including: 2,120 1,996 6% incl. own use 35 31 14% NPK 1,932 1,813 7% incl. own use 35 31 14% NP 0 5 Bulk blends 189 178 6%------------------------------------------------------------------------- Organic synthesis products, including: 355 601 -41% incl. own use 183 274 -33% Methanol 77 187 -59% incl. own use 66 98 -33% Formaldehyde 126 193 -35% incl. own use 117 174 -33% Urea-formaldehyde resins (UFR) 153 221 -31% incl. own use 1 1 0%------------------------------------------------------------------------- Inorganic synthesis products, including: 844 901 -6% Low-density and technical-grade ammonium nitrate 177 273 -35% Calcium carbonate 527 484 9% Liquid carbon dioxide 41 45 -9% Argon 6 7 -9% Hydrochloric acid 93 93 0%-------------------------------------------------------------------------Comments:In 2009, Acron's total commercial output was up 11% year-on-year to 5.1 mntonnes. Commercial output of ammonia and mineral fertilisers rose 17%year-on-year to reach 4.3 mn tonnes. The Group achieved these impressive resultsby optimising its product range and making significant investment in technicalupgrades in recent years.In 2009, Dorogobuzh boosted commercial output by 48%. This increase was mainlydue to stable operation of all the facility's units in the reporting year, (bycontrast, in 2008 Dorogobuzh experienced lengthy operating interruptions causedby short raw materials supplies, major overhauls and weak demand in the wake ofthe global financial and economic crisis). Moreover, modernisation ofDorogobuzh's ammonium unit in H2 2008 expanded its capacity and dramaticallyincreased efficiency, allowing Dorogobuzh to report peak operating results.Straight Nitrogen Fertilisers and AmmoniaIn 2009, strong demand for nitrogen fertilisers required that the Group'sfacilities utilise their urea and ammonium capacity to the maximum. The Group'sconsolidated ammonia output was almost 1.7 mn tonnes, a record in the Group'shistory. The Dorogobuzh facility's ammonia and ammonium nitrate units alsoperformed at an all-time high. When demand for liquid UAN picked up in thesecond half of 2009, the Veliky Novgorod facility was able to increase itsoutput by 20% year-on-year.Complex FertilisersThe global market for complex fertilisers did not display uniform demand in thereporting year; nevertheless, the Group's consolidated output rose 6% to 2.1 mntonnes. This production increase was solely due to the Dorogobuzh facility. TheVeliky Novgorod facility reduced its output of complex fertilisers 6%, andHongri Acron's output of complex fertilisers was down 4%. July's interruptedpotash supplies had a slight impact on complex fertiliser output at Acron'sRussian facilities.Organic and Inorganic Synthesis ProductsThe Group's output of industrial products was down in the reporting year. In2009, demand for industrial goods failed to recover completely from theconsequences of the global financial and economic crisis. As a result, the Groupreduced its output of organic synthesis products by 41%.Lower methanol output for the year was mainly caused by Hongri Acron'ssuspension of methanol production as a response to adverse pricing conditions inChina. Furthermore, reduced demand in the Russian woodworking industry alsoresulted in lower methanol output and processing at the Novgorod facility.Inorganic synthesis products were down 6%, mainly due to lower output oftechnical-grade ammonium nitrate. However, this decrease was offset by higheroutput of agricultural ammonium nitrate.The Group's total output of industrial organic and inorganic synthesis productswas down 12% year-on-year to 0.8 mn tonnes.Market Review and 2010 OutlookAfter a sharp slump in fertiliser production and prices in late 2008, the globalmarket for nitrogen and complex fertilisers recovered completely by H2 2009;demand strengthened and world prices experienced a slight uptick. In 2010,strong demand for fertilisers is expected in the Group's major sales markets asthe global economy recovers. The recovery will allow the Group's facilities tooperate their ammonia and fertiliser capacity at maximum levels.While recovery in the organic and inorganic synthesis products segment isproceeding at a slower pace, Acron is still making concerted efforts to developthis line of business. In 2010, Acron expects to increase methanol output andprocessing.More detailed operating results can be found athttp://www.acron.ru/products_op.htmlFor Further Information:AcronMs. Elena Kochubey - Tel:+7 (495) 777 08 65Head of Public RelationsMr. Ilya Popov - Tel: + 7 (495) 411 55 94Head of Investor RelationsNotes to editorsAcron is a leading Russian and global mineral fertiliser producer with adiversified product portfolio consisting of multi-nutrient fertilisers such asNPK and bulk blends, and straight nitrogen-based products such as urea, ammoniumnitrate and UAN. In 2009, the Group's output of ammonia and mineral fertilisers(exclusive of own use) totaled 4.3 million tonnes. The Group's key markets areRussia, China and other Asian countries, Europe, Latin America, and FSUcountries.Acron employs over 13,000 people In 2008 the Group's consolidated revenues underIFRS were RUB 43,132 million (US$ 1,734 million), and net income was RUB 9,891million (US$ 398 million). Acron's ordinary shares are listed and traded on theMICEX, RTS and LSE stock exchanges under the symbol "AKRN".Acron has three production facilities - Acron (Veliky Novgorod, Russia),Dorogobuzh (Smolensk Region, Russia) and Hongri Acron (Shandong Province,China). Acron's logistics and transportation capabilities include its own fleetof railway cars and three sea port trans-shipment facilities on the Baltic Sea -at the Kaliningrad port of Russia, at the Estonian Sillam?port and at theEstonian Muuga port. The Group operates distribution networks in Russia andChina.Acron plans to enhance its vertical integration and secure supplies of phosphateand potash inputs through the development of its own mineral resource base. TheGroup owns licences to develop two apatite-nepheline ore deposits in theMurmansk region and a potassium-magnesium salts deposit in the Perm region (bothlocated in Russia).[HUG#1375318]
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Datum: 20.01.2010 - 06:57 Uhr
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