18 May 2010 14:17


MOSCOW. May 18 (Interfax) - OJSC KuibyshevAzot's IFRS net profit dropped by 83% in 2009 to 293 million rubles, the company said in its financial results.

The company's sales revenue went down by 13% to 17.1 billion rubles, production costs - 7.7% to 12.6 billion rubles and EBITDA- 44% to 2.305 billion rubles.

The company's sales of cyclic amide and its production decreased by 10.5% to 10.2 billion rubles while sales of ammonia and nitrogenous fertilizer fell by one fourth to 4.8 billion rubles.

The bulk of the company's sales revenue came form Asia (almost 7 billion rubles). Sales revenue posted in Russia came to 5.9 billion rubles, Europe - 2.3 billion rubles and South America - 768 million rubles.

The company said that it opened a trading office in Hong Kong in 2009 - KuibyshevAzot Trading Co Ltd for the sale of production in Asia.

The company's short-term liabilities increased by 70% in 2009 to 6.1 billion rubles while long-term obligations went down by 24% to 3.4 billion rubles.

According to the company's reporting, OOO KuibyshevAzot Plus, which is controlled by the company's management, owns 28% in the enterprise's charter capital.