UralChem's IFRS revenue rises 54% in Q1, losses fall 60%
MOSCOW. May 25 (Interfax) - UralChem in Q1 2015 posted 3.642 billion rubles of net losses against 8.910 billion rubles in the same period of 2014, the company said in a report to International Financial Reporting Standards (IFRS).
The losses from exchange rate differences due to the revaluation of the loan of VTB Capital in January-March 2015 were 9.658 billion rubles.
The company's revenue in Q1 rose 54% to 29.873 billion rubles, gross profit nearly doubled to 21.432 billion rubles. Pretax losses in January-March 2015 reached 2.768 billion rubles against losses of 10.224 billion rubles for the same period of last year.
The amount of long-term loans and borrowings as at the end of Q1 was 257.549 billion rubles against 249.629 billion rubles at the beginning of the year. Current obligations for loans and borrowings on March 31 had risen to 4.951 billion rubles against 3.786 billion rubles on December 31, 2014.
