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PhosAgro Sets Fertilizer Production and Sales Records in 2012

21 January 2013

Moscow – PhosAgro (Moscow Exchange, LSE: PHOR), a leading global vertically integrated phosphate-based fertilizer producer, announces its production update for the year 2012. Total fertilizer production and sales in FY 2012 grew 8.6% a record 5.4 million tonnes and 7.8% to an all-time high of 5.3 million tonnes, respectively. The Company increased phosphate-based fertilizer sales volumes* for FY 2012 by 4.5% y-o-y in 2012, while production of phosphate-based fertilizers for the same period increased by 5.7% y-o-y.


PhosAgro’s production and sales volumes for 2012 are summarized in the tables below.


Production Volumes by type

(kmt)

2012

2011

Change y-o-y

Phosphate-based fertilizers

4,340.0

4,105.4

5.7%

Nitrogen-based fertilizers

1,098.0

901.3

21.8%

TOTAL Fertilizers

5,438.0

5,006.7

8.6%

Apatit mine and beneficiation plant

8,960.3

8,716.8

2.8%

Other products

7,165.1

7,186.5

(0.3%)


Sales Volumes by type

(kmt)

2012

2011

Change y-o-y

Phosphate-based fertilizers

4,242.9

4,061.7

4.5%

Nitrogen-based fertilizers

1,094.9

889.4

23.1%

TOTAL Fertilizers

5,337.8

4,951.1

7.8%

Apatit mine and beneficiation plant

4,583.1

4,149.3

10.5%

Other products

257.3

347.0

(25.9%)


Commenting on the 2012 operations results, PhosAgro CEO Maxim Volkov said: “We are delighted that in 2012 we were able to achieve such significant growth in production and sales of fertilizers. For the first time in the Company’s history, fertilizer sales volumes exceeded 5 million tonnes per year. Our strategy of organic growth supported by flexible production and sales structure enabled us to almost double production of fertilizers from 2.8 to 5.4 million tonnes over 10 years, from 2002 to 2012. Going forward, we remain focused on delivering on our strategy to produce sustainable positive.”


The table below provides a breakdown of 2012 production volumes by major product:


Production Volumes

(kmt)

2012

2011

Change y-o-y

Apatit mine and beneficiation plant

Phosphate rock

7,903.6

7,719.8

2.4%

Nepheline concentrate

1,056.7

997.0

6.0%

Phosphate-based fertilizers

DAP/MAP

2,047.3

2,537.4

(19.3%)

NPK

1,644.2

1,199.2

37.1%

NPS

346.4

82.3

320.9%

APP

60.5

58.1

4.1%

MCP

241.6

228.4

5.8%

Nitrogen-based fertilizers

AN

314.6

455.7

(31.0%)

NP

80.3

0.0

-

Urea

703.1

445.6

57.8%

Other products

AlF3

24.1

24.2

(0.4%)

Ammonia

1,095.6

1,010.1

8.5%

Phosphoric acid

1,608.1

1,711.2

(6.0%)

Sulphuric acid

4,437.3

4,441.0

(0.1%)


The table below provides a breakdown of 2012 sales volumes by major product:


Sales Volumes

(kmt)

2012

2011

Change y-o-y

Apatit mine and be1neficiation plant

Phosphate rock

3,541.8

3,152.6

12.3%

Nepheline concentrate

1,041.3

996.7

4.5%

Phosphate-based fertilizers

DAP/MAP

2,027.1

2,533.2

(20.0%)

NPK

1,619.0

1,162.8

39.2%

NPS

299.1

82.7

261.7%

APP

52.0

55.7

(6.6%)

MCP

245.7

227.3

8.1%

Nitrogen-based fertilizers

AN

297.9

446.8

(33.3%)

NP

79.4

0.0

-

Urea

717.6

442.6

62.1%

Other products

AlF3

24.1

24.4

(1.2%)

Ammonia

72.8

141.8

(48.7%)

Phosphoric acid

12.6

13.0

(3.1%)

Sulphuric acid

147.8

167.8

(11.9%)


Conference Call


On 21 January 2013 at 13:00 London time (17:00 Moscow; 08:00 New York) PhosAgro will host a conference call and webcast to discuss its 2012 operating results.

The call will be held in English with simultaneous translation into Russian on a separate line. Participants will be required to tell the operator their preferred language when dialing in.


Webcast links:

English: www.media-server.com/en
Russian: www.media-server.com/ru


Conference call dial-ins:

Moscow: +7 499 272 4337

New York: +1 646 843 4608

London: +44 (0) 20 3003 2666


Toll Free:

UK: 0808 109 0700

USA: 1 866 966 5335

Russia (Moscow only): 8 10 8002 1774011


Conference call password: PhosAgro


M:Communications

Sam VanDerlip

vanderlip@mcomgroup.com

+44 7554 993 032



* Excluding intra-group sales