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Financial

Consolidated Interim Condensed Financial Statements for the nine months ended 30 September 2022

1.3MB03.11.2022
PhosAgro Reports Operating and Financial Results for 9M 2022

863.2KB03.11.2022

Results by year

Investment attractiveness

Constantly growing demand
World population is expected to reach 10 billion in 2050
According to preliminary estimates, it will be necessary to increase agricultural production by 60% in order to feed the growing population. Demand for agricultural products will also depend on changes in diet, alternative uses of crops (e.g. bioethanol production), as well as the fact that farmers will strive to increase their crop yield because of limited land suitable for cultivation.
Solid resource base
Quality resource base is enough for 50+ years
The company has a quality resource base for the next 50 years according to JORC (2018). PhosAgro is developing its own deposits of unique apatite-nepheline ore of igneous origin on the Kola Peninsula; there are few of such deposits on the planet. Unlike the raw materials of other producers, the local ore contains practically no harmful impurities.
Diversified product portfolio
Product basket comprise 50+ grades
We currently produce 50+ grades of fertilizers. Our flexible and efficient production models allow us to quickly adjust our product basket to market conditions. Thus, PhosAgro is always sure that all the fertilizers produced will be sold at the most attractive prices.
Diversified customer base
We sell more than 9 million tons of fertilizers to 100 countries every year
We plan to increase sales to 11.7 million tons of fertilizer by 2025. Our flexible business model of production and sales allows us to meet demand around the world as quickly as possible. Using its own flexible production and well-developed sales strategy, PhosAgro is able to mitigate the seasonality of demand and choose markets with the most attractive prices for our products.
Environmental safety of fertilizers
A key element of Strategy 2025 is to contribute to solving global problems
We welcome the growing global attention to issues of food safety, human health and the prosperity of future generations. We believe that cooperation, exchange of knowledge and experience at the international level will help us to meet the needs of consumers in Russia and abroad and offer them the best products and services. It will also contribute to the successful solution of environmental and food issues at the international level.
Fully self-sufficient in key feedstocks
PhosAgro is self-sufficient in the core materials for phosphate-based and nitrogen based fertilizers: phosphate rock -100%, sulfuric acid – 90% and ammonia – 90%.
Our operation is based on a vertically oriented model covering all business segments – from raw material production to logistics and distribution of the finished product. PhosAgro provides itself with phosphate rock 100%, sulfuric acid – 87% and ammonia – 90%. This allows us to control the costs at each stage and ensure the competitiveness of our fertilizers on the market. In addition, PhosAgro is constantly improving the efficiency of raw material processing and fertilizer production. All above mentioned positions us in the left side of industry’s cash cost curve and secures leading EBITDA margin on the backdrop of any market headwinds.
Sustainable investment rating
Stable financial position (BBB-,Baa3,BBB-)
PhosAgro's credit rating has been classified investment-grade by the leading global rating agencies. The Group has the lowest level of borrowed funds among peer international and domestic companies and one of the highest gross profit margins among producers of phosphorus-containing products.