Kazan Public Joint Stock Organichesky sintez : Kazanorgsintez PJSC collected the IFRS proceeds in the amount of RUR 52.7 bln

30 August 2021

Kazanorgsintez PJSC collected the IFRS proceeds in the amount of RUR 52.7 bln

Kazanorgsintez PJSC has published the consolidated interim financial statements subject to the International Financial Reporting Standards for six months of 2021. According to the reported data, the Company's profit was RUR 14.7 bln that is 3.6 times higher than the similar figures of the crisis-related first half of 2020.

The revenue of Kazanorgsintez PJSC for the first half of this year reached RUR 52.7 bln up 68 percent from the same period of last year. The Company exported the products for RUR 8.4 bln. In the domestic market, the Company sold its products worth RUR 44.3 bln. From the comparable period, the export share lowered from 23% to 16% in the first half of 2021. The Company went for such refocusing as because the foreign polymer producers reduced their scope of supply in the Russian market.

The share of plastics accounted for RUR 46.3 bln in the total revenue of the company. While the share of other petrochemical products takes RUR 5.2 bln. These petrochemical products include bisphenol A, ethylene glycol, monoethanolamine, acetone and others.

Funds allocated for investment activities in the first half of 2021 amounted to RUR 13.3 bln. This is 5.6 times the investment volume for six months of 2020.