Log in
Log in
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     
Sign up
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     
  1. Homepage
  2. Equities
  3. Russia
  4. Moscow Micex - RTS
  5. PhosAgro
  6. News
  7. Summary
    PHOR   RU000A0JRKT8

PHOSAGRO

(PHOR)
  Report
End-of-day quote Moscow Micex - RTS  -  2022-07-07
7929.00 RUB   +0.11%
09/30Phosagro Pjsc : PhosAgro Board of Directors to Elect New Chairman on October 3
EQ
09/23Phosagro Pjsc : PhosAgro Announces Results of Extraordinary General Meeting of Shareholders
EQ
09/06Russia's PhosAgro To Join Moscow Exchange Blue Chip Index
MT
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisionsFunds 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

PhosAgro Board of Directors Applauds Company's Progress on Key Investment Projects under Development Strategy to 2025

08/18/2022 | 01:06pm EDT

PhosAgro PJSC (PHOR)
PhosAgro Board of Directors Applauds Company’s Progress on Key Investment Projects under Development Strategy to 2025

18-Aug-2022 / 20:05 MSK
Dissemination of a Regulatory Announcement that contains inside information in accordance with the Market Abuse Regulation (MAR), transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.


For Immediate Release 18 August 2022




PhosAgro Board of Directors Applauds Company’s Progress on Key Investment Projects under Development Strategy to 2025

Moscow — At its meeting today, the Board of Directors of PhosAgro, one of the world’s leading vertically integrated phosphate-based fertilizer producers, applauded the Company’s progress in implementing key investment projects within the framework of its Development Strategy to 2025.

The Board heard a report from CEO Mikhail Rybnikov on the results of the Company’s operations in 1H 2022 and reviewed reports from PhosAgro’s CEO and Management Board for 1H 2022.

“Through our investment programme (about RUB 64 billion will be allocated for these purposes in 2022, one third more than last year), we are building new capacities and increasing production volumes: we are forecasting growth of 3%–4% to 10.8 million tonnes this year. Our unchanging strategic priority remains the domestic market, where we plan to sell up to 50% of our product in the near future. In addition, we have been paying more in taxes, with payments for just the first half of 2022 comparable to what we paid for the entire previous year (RUB 39 billion),” said PhosAgro’s CEO Mikhail Rybnikov in his report.

The Board of Directors took under advisement information provided by the chairs of the Board committees on the work of their respective committees and approved their preliminary work plans for the period until 30 June 2023. In addition, the Board decided to recommend that the Company’s Management Board approve a new version of the budget for 2022.

Information on the Company’s financial results in 1H 2022, including interim consolidated IFRS financial statements, was discussed. The Board of Directors recommended that an Extraordinary Meeting of Shareholders adopt a decision to pay dividends at a rate of RUB 780 per ordinary share. The total amount of dividend payments will include final dividends for 2021 and dividends for 1H 2022. An Extraordinary Meeting of Shareholders will be held by absentee voting on 21 September 2022. The Board of Directors recommended 3 October 2022 as the dividend record date.

Information was taken under advisement concerning the results of the monitoring of the Company’s key risk management in 1H 2022, as was information on the efforts undertaken by PJSC PhosAgro enterprises to comply with regulations on occupational health and industrial safety in the operation of production facilities, and to observe environmental regulations, as well as steps taken to ensure environmental safety including with respect to energy efficiency in 2021 and 1H 2022.

The Board of Directors approved revised versions of the Regulation on the Company’s Board of Directors’ Strategy and Sustainable Development Committee and the Regulation on the Operation of the PhosAgro Hotline; the Board also determined the amount of remuneration for the Company’s RAS auditor. The Board proposed that an Extraordinary Meeting of Shareholders approve a new version of the Regulation on the Company’s Board of Directors.

The Board of Directors recognised that its independent members met the independence criteria set out in the Regulation on the Board of Directors of PJSC PhosAgro, the Corporate Governance Code recommended by the Bank of Russia for use by joint-stock companies, the Moscow Exchange Listing Rules and the UK Corporate Governance Code.

At the end of the meeting, Andrey Sharonov, Chairman of PhosAgro’s Board of Directors, thanked PhosAgro Group’s personnel for their efforts and their dedication.




About Us

PhosAgro (www.phosagro.ru) is one of the world’s leading vertically integrated phosphate-based fertilizer producers in terms of production volumes of phosphate-based fertilizers and high-grade phosphate rock with a P2O5 content of 39% and higher. PhosAgro’s environmentally friendly fertilizers stand out for their high efficiency, and they do not lead to the contamination of soils with heavy metals.

The Company is the largest phosphate-based fertilizer producer in Europe (by total combined capacity for DAP/MAP/NP/NPK/NPS), the largest producer of high-grade phosphate rock with a P2O5 content of 39%, a top-three producer of MAP/DAP globally, one of the leading producers of feed phosphates (MCP) in Europe, and the only producer in Russia, and Russia’s only producer of nepheline concentrates (according to the RFPA).

PhosAgro’s main products include phosphate rock, more than 50 grades of fertilizers, feed phosphates, ammonia, and sodium tripolyphosphate, which are used by customers in 100 countries spanning all of the world’s inhabited continents. The Company’s priority markets outside of Russia and the CIS are Latin America, Europe and Asia.

PhosAgro’s shares are traded on the Moscow Exchange, and global depositary receipts (GDRs) for shares are listed on the London Stock Exchange (under the ticker PHOR).

More information about PhosAgro can be found on the website: www.phosagro.ru.


 


ISIN: US71922G2093
Category Code: ROM
TIDM: PHOR
LEI Code: 25340053KRUNNYUWF472
OAM Categories: 2.2. Inside information
Sequence No.: 182307
EQS News ID: 1423629

 
End of Announcement EQS News Service

fncls.ssp?fn=show_t_gif&application_id=1423629&application_name=news&site_id=zonebourse_sftp

© EQS 2022
All news about PHOSAGRO
09/30Phosagro Pjsc : PhosAgro Board of Directors to Elect New Chairman on October 3
EQ
09/23Phosagro Pjsc : PhosAgro Announces Results of Extraordinary General Meeting of Shareholder..
EQ
09/06Russia's PhosAgro To Join Moscow Exchange Blue Chip Index
MT
09/05Phosagro Pjsc : PhosAgro Shares to Be Included in Moscow Exchange Blue Chip Index as of 16..
EQ
08/30Phosagro : Notice to holders of 2028 Eurobonds
PU
08/30Phosagro : Notice to holders of 2025 Eurobonds
PU
08/30Phosagro : Notice to holders of 2023 Eurobonds
PU
08/30Phosagro : Notice to holders of PhosAgro Eurobonds
PU
08/22Phosagro : Notice on holding the Extraordinary General Meeting of Shareholders of PJSC Pho..
PU
08/19PhosAgro Informs about Submission of a Notification for Automatic Conversion of GDRs
EQ
More news
Analyst Recommendations on PHOSAGRO
More recommendations
Financials (USD)
Sales 2022 6 737 M - -
Net income 2022 1 130 M - -
Net Debt 2022 1 976 M - -
P/E ratio 2022 -
Yield 2022 -
Capitalization 16 292 M 16 972 M -
EV / Sales 2022 2,71x
EV / Sales 2023
Nbr of Employees 25 174
Free-Float 35,4%
Chart PHOSAGRO
Duration : Period :
PhosAgro Technical Analysis Chart | MarketScreener
Full-screen chart
Income Statement Evolution
Consensus
Mean consensus -
Number of Analysts 0
Last Close Price 7 929,00
Average target price
Spread / Average Target -
Managers and Directors
Mikhail Konstantinovich Rybnikov Chief Executive Officer & Executive Director
Alexander Sharabaika Deputy Chairman & Deputy CEO
Andrey Vladimirovich Sharonov Chairman
Natalia Pashkevich Independent Non-Executive Director
Viktor Mikhaylovich Cherepov Independent Director
Sector and Competitors
1st jan.Capi. (M$)
PHOSAGRO35.93%16 972
SOCIEDAD QUÍMICA Y MINERA DE CHILE S.A.80.03%25 922
ICL GROUP LTD-4.03%10 408
UPL LIMITED-9.93%6 206
YUNNAN YUNTIANHUA CO., LTD.20.95%6 124
PI INDUSTRIES LIMITED-1.22%5 586