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PhosAgro Board of Directors Chairman Xavier Rolet Takes Part in SPIEF Panel Session “Is Modern Business Capable of Implementing Successful Long-Term Strategies?”

7 June 2019
St Petersburg – PhosAgro Board of Directors Chairman Xavier Rolet took part in the St Petersburg International Economic Forum (“SPIEF”) panel session 'Is Modern Business Capable of Implementing Successful Long-Term Strategies?’ organised by PwC.

Last year PhosAgro set new records for mining and production output volumes, and the company achieved its goals under its long-term Strategy to 2020. Over the past 5 years, production of fertilizers and feed phosphates has grown to 9 million tonnes, which has strengthened the Company's position in both domestic and global markets. The Company has become a leader in Russia in terms of labour productivity growth over the past 5 years.

In March 2019, the Company approved its strategy to 2025, which also involves the construction of new high-tech production facilities and a 25% increase in fertilizer output.

Responding to the main question of the session, Xavier Rolet said: “A long-term strategy implies that we are ready for long-term investments in innovations that meet customer demand. It is always aimed at improving people’s well-being, no matter what sector of the economy it is – medicine, transport or foodstuffs. The driving force of a long-term strategy is the value of its results for society, which predetermines the long-term vision and effective steps to achieve it.

“This is the idea that underpins the growth strategy of PhosAgro, where I recently became the Chairman of the Board of Directors. Implementing its strategy to 2020 using best available techniques, PhosAgro achieved record production results and, at the same time, began to actively engage in innovations in agriculture.

“In March, PhosAgro approved its strategy to 2025, which, among other things, implies the development of digital technologies in agriculture to ensure large and high-quality crop outputs now and, more importantly, in the future. As one of the world's largest suppliers of environmentally friendly fertilizers for the agro-industrial sector, PhosAgro already participates in programmes to protect human health and the environment, to ensure food security and combat soil degradation, leading the way with the right attitude to strategic development.”