TOAZ PJSC: PERFORMANCE RESULTS FOR 1H 2019
Togliattiazot Public Joint-Stock Company (PJSC TOAZ), Russia’s largest ammonia producer, has published its performance results for the 1H 2019.
In the reporting period, Togliattiazot produced 1,472 thous. tonnes of ammonia, which is 5.4% more than in the same period of 2018 (1,396 thous. tonnes) and 430.2 thous. tonnes of urea, which is 6.8% more compared to the first six months of 2018 (402,6 thous. tonnes).
Financials (in accordance with RAS).
Based on results of the financial and economic activities of TOAZ PJSC for 1H 2019, the Company's net profit increased by 4.6% compared to the same period in 2018 and amounted to 3.44 billion roubles (1H2018 - 3.29 billion roubles). The main growth driver for the financial performance in the 1H 2019 is the growth in revenue due to sales of the company’s key products.
From January to June 2019, Togliattiazot PJSC revenue amounted to 29.17 billion roubles, which means a 16% increase compared to the 1H 2018 (25.2 bln roubles).
The cost-of-goods-sold for the 1H 2019 increased by 0.93 billion roubles (or 8%) compared to 1H 2018 in proportion to an increase in key products sales and amounted to 12.59 billion roubles. Also, in the 1H 2019, the company’s selling expenses increased by 15% (compared to the same period in 2018).
The growth in revenue and cost in the 1H 2019 was due to an increase in sales (ammonia by 4%, urea by 14%). The increase in selling expenses was triggered by the growing transportation expenses of all types (due to an increase in deliveries), as well as changes in the ammonia exports geography, which resulted in a rise of sea transportation costs.
Dmitry Mezheedov, CEO of Togliattiazot Corporation CJSC: “TOAZ performance in the 1H 2019 clearly demonstrates that the recent years’ strategy aimed at improving production efficiency and stability is feasible. It is the stability of the units that allows us to provide strong six months’ performance and to ensure the overall result at year-end.”
Тольяттиазот готовится запустить третий агрегат карбамида. О статусе нового объекта и ключевых работах на стройплощадке газете рассказали руководитель проекта Александр Постнов и начальник производства карбамида Михаил Цаплин.
Within the framework of his working trip to Togliatti, the Minister of Industry and Trade of the Samara Region, Andrey Shamin, visited PJSC TOAZ.
PJSC TOAZ (Togliattiazot), one of the leading mineral fertilizer producers in Russia, continues its large-scale production development program. The first stage of a major project to upgrade the loading tracks of the discharge/loading rack was completed at the ammonia preparation shop (No.13).