28 Apr 2018 12:56

Uralkali RAS net profit tumbles 75% to 5.4 bln rubles in Q1

MOSCOW. April 28 (Interfax) - Uralkali saw its net profit to Russian Accounting Standards fall 75% to 5.4 billion rubles in the first quarter of 2018 from 21.9 billion rubles in the same period last year, the potash miner reported in its financial statement.

The company's revenue slumped 7% to 30 billion rubles in the first quarter.

Other income, which includes FX translation gains, decreased to 1.8 billion rubles from 22.6 billion rubles, while other expenditures fell just one-third, to 5 billion rubles.

Uralkali's gross debt fell 4% during Q1 to 361.3 billion rubles. Short-term loans and other borrowings rose 2% to 116 billion rubles while long-term fell 7% to 245.3 billion rubles.

Uralkali financial highlights to RAS, '000 rubles:

	Q1 2018	Q1 2017	Change
Sales revenue	30 028 556	32 318 504	-7%
Cost of sales	(8 016 320)	(8 178 688)	-2%
Gross profit	22 012 236	24 139 816	-9%
Operating profit	13 642 994	15 367 393	-11%
Other income	1 849 576	22 600 194	-92%
Other expenditure	(4 998 390)	(7 554 884)	-34%
Pretax profit	6 526 887	26 585 147	-75%
Net profit	5 428 540	21 927 872	-75%