Uralkali sales revenue to IFRS down 9% to $2.4 bln in 9M
MOSCOW. Nov 23 (Interfax) - Uralkali's sales revenue to International Financial Reporting Standards (IFRS) fell 9% year-on-year in January-September to $2.831 billion, the potash miner said in a statement.
Sales volume fell 8% to 8.5 million tonnes and output fell 5.5% to 8.7 million tonnes.
Net revenue fell 1% year-on-year to $2.011 billion and cash COGS was $32 per tonne.
Average FCA export price was up 11% year-on-year to $248 per tonne of potassium chloride (KCl).
Sales revenue fell 9% in Q3 to $819 million, net revenue fell 2% to $702 million, sales volume fell 6% to 2.9 million tonnes and production totaled 3 million tonnes.
"Uralkali's financial results in the third quarter accurately reflect the situation in the global potash market. In light of current market conditions, the company may yet review its production and sales plans," said Dmitry Osipov, Uralkali CEO.
Uralkali's net debt grew 44% from $3.528 billion to $5.07 billion during Q3 2015.
The effective interest rate for the credit portfolio was about 4% as of the end of September.
