Net profit of Togliattyazot according to Russian Accounting Standards increased by 4.6% to 3.44 billion roubles in the first six month of the year
According to Russian Accounting Standards net profit of Togliattiazot (TOAZ) increased by 4.6% in the first six month of the year compared to the same period of the previous year and amounted to 3.44 billion roubles, states information provided by the company.
“The main factor of the financial result growth in the first six month of 2019 is increased revenues from sales of main products of the enterprise,” states the information.
The company’s revenue for the reported period increased by 16% and amounted to 29.17 billion roubles. The cost of sales for the reported period increased by 8% and amounted to 12.59 billion roubles. As it follows from the provided information, the growth of revenue and cost of sales in the first six months of the year is due to an increase in sales (ammonia by 4%, urea by 14%).
Togliattiazot is the largest Russian producer of ammonia and one of the leading urea producers. Vladimir Makhlay, the former president of the company,whose companies own 71% of shares, is considered the main owner of Togliattiazot, while Uralchem Holding owns about 10% of shares.
https://emitent.1prime.ru/News/NewsView.aspx?GUID={0BE1A10F-8214-48AE-A483-BF4A0E1D021C}
Togliattiazot (TOAZ), a leading producer of ammonia in Russia, ranks 247th in the RAEX-600 rating published by Kommersant.
In 2019, 174 children aged 7 to 17 visited recreational and health centers. In August, 100 of them went on holiday to the Dream Summer Camp located at the Black Sea in the village of Dzhubga, Tuapse District. The transfer services and hot meals were also sponsored by the enterprise. 74 children were given vouchers for wellness programs in Togliatti’s Rainbow Recreation Center in a pine forest on the Volga river. According to the collective agreement, parents paid as little as 30 % of the holiday package value.
Around 50 high school students have opened a new school year in the vocational classes in Gymnasium No. 35 and School No. 41 in Togliatti, created at the initiative of Russia’s largest ammonia producer Togliattiazot.