Financial Highlights for 2012
Our 2012 financial performance was an illustrates of PhosAgro’sflexible production and sales model. Consolidated revenue grew by 5%y-o-y to RUB 105.3 billion; earnings before interest, taxes depreciationand amortization (EBITDA) decreased by 2% y-o-y, and profit forthe year rose 9% to RUB 24.5 billion. Cash flows from operatingactivities decreased by 21% to RUB 25.5 billion, representing stablefinancial performance despite prices for phosphate-based fertilizers like DAP/MAP being under pressure during most of the year.
Key financial performance indicators RUB million
| 2012 | 2011 | % change | |
|---|---|---|---|
| Revenue | 105,303 | 100,518 | 5% |
| Cost of sales | (60,136) | (56,196) | 7% |
| Gross profit | 45,167 | 44,322 | 2% |
| Gross profit margin | 43% | 44% | |
| Operating profit | 28,174 | 29,319 | (4%) |
| Operating profit margin | 27% | 29% | |
| Profit for the period | 24,510 | 22,476 | 9% |
| Profit margin | 23% | 22% | |
| EBITDA | 34,695 | 35,370 | (2%) |
| EBITDA margin | 33% | 35% | |
| Net debt | 26,805 | 15,207 | 76% |
| Net debt/EBITDA ratio | 0.77x | 0.43x |
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