MFP Kirovo-Chepetsk Chemical Works: production and financial results for the year 2012


Kirovo-Chepetsk, Kirov Region, Russia – 19 February, 2013. MFP Kirovo-Chepetsk Chemical Works, OJSC (an affiliated part of URALCHEM holding) has reported its production and financial results for the year 2012.

The past year was successful for the company. A flexible production structure and a broadly based product line enabled the company to be responsive to the needs of the market for mineral fertilizers. The 2012 production amounted to 2.229 million tons, a 2% decrease compared to 2011. The reduced output was due to the re-orientation of production to more marketable products.

In 2012, there was a significant renewal of production facilities as well as the implementation of various major investment projects. Also in 2012, the fertilizer product line was successfully expanded and a new product, nitrogen sulphate NS 30:6, was launched.

The three company products in greatest demand in 2012 were: NPKS 27:6:6:2, NPKS 22-7-12-2 and calcium ammonium nitrate with sulphur and granulated calcium ammonium nitrate. Production of these fertilizer brands increased by 5%, 43% and 31% respectively.

"The main results of the company for the period of 2011-2012 show that the enterprise holds a steady position. Due to our manufacturing of products demanded by the market conditions, as well as the increase in world prices for the company's products, the enterprise managed to sustain positive dynamics of its financial and economic activities and increased our revenue by 4% from 23,250 million roubles in 2011 to 24,074 million roubles in 2012," said the director of MFP Kirovo-Chepetsk Chemical Works, OJSC Sergei Momtsemlidze.

Net profit of the company amounted to 7,652 million roubles. Unit production costs decreased by $1.4 million due to greater supervision of the consumption of the main raw materials and energy This was achieved by the implementation of energy saving measures and diversification of the production towards lower raw material products.