Uralkali net profit to RAS plummets 36% to 31.3 bln rubles in 2013
MOSCOW. Jan 14 (Interfax) - Uralkali had net profit of 31.324 billion rubles to Russian Accounting Standards (RAS) in 2013, 36.2% less than in 2012, the potash miner said in a statement.
Sales revenue fell 12.5% to 96.309 billion rubles.
Cost of sales rose 7% to 26.04 billion rubles, gross profit fell 18% to 70.269 billion rubles, operating profit fell 31% to 43.364 billion rubles and profit before tax fell 35.6% to 37.616 billion rubles.
Accounts payable rose 90% during 2013 to 13.999 billion rubles. Borrowing stood at 163.126 billion rubles at the end of 2013. This included 32.596 billion rubles in long-term borrowing. Short-term borrowing grew 25% to 6.945 billion rubles during 2013.
Accounts receivable grew 10% to 28.3 billion rubles, including short-term - 28.269 billion rubles and long-term - 33.103 million rubles.
Uralkali also said potassium chloride production grew 9.7% last year to 10 million tonnes. Sales rose 8.9% to 9.968 million tonnes. Export accounted for 81% of sales. The main export destinations were China (27% of all exports), Russia (19%), Brazil (12%), India (10%), Southeast Asia (8%) and the United States (6%).