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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