PhosAgro : Consolidated Interim Condensed Financial Statements for the six months ended 30 June 2023

PJSC "PhosAgro"

Consolidated Interim Condensed Financial Statements

for the six months ended 30 June 2023

PJSC "PhosAgro"

Contents
Report on Review of Consolidated Interim Condensed Financial Statements
Consolidated Interim Condensed Statement of Profit or Loss and Other Comprehensive Income	..............1
Consolidated Interim Condensed Statement of Financial Position	2
Consolidated Interim Condensed Statement of Cash Flows	3
Consolidated Interim Condensed Statement of Changes in Equity	4
Notes to the Consolidated Interim Condensed Financial Statements
1	Background	5
2	Basis of preparation	5
3	Fair values determination	6
4	Seasonality	7
5	Cost of Group products sold	8
6	Administrative and selling overhead expenses	8
7	Taxes, other than income tax, net	9
8	Other expenses, net	9
9	Finance income and finance costs	9
10	Income tax expense	10
11	Property, plant and equipment	10
12	Right-of-use assets	11
13	Other non-current assets	12
14	Other financial assets	13
15	Inventories	13
16	Trade and other receivables	14
17	Cash and cash equivalents	14
18	Earnings per share	15
19	Loans and borrowings	15
20	Leases	17
21	Trade and other payables	17
22	Commitments	17
23	Related party transactions	17
24	Foreign currency risk	18
25	Significant subsidiaries	19
26	Subsequent events	19

Joint-Stock Company	Ferro-Plaza Business Centre,
	14/3 Krzhizhanovsky street, bldg.
	5/1,
	Akademichesky municipal district,
	Moscow, Russian Federation,
	117218
www.tedo.ru	T: [phone]

Report on Review of Consolidated Interim Condensed Financial Statements

To the Shareholders and Board of Directors of

Introduction

We have reviewed the accompanying consolidated interim condensed statement of financial position of

Public J as at 30 June 2023 and the related consolidated interim condensed statements of profit or loss and other comprehensive income for the three-month and six-month periods then ended, changes in equity and cash flows for the six-month period then ended, and the related explanatory notes. Management is responsible for the preparation and presentation of these consolidated interim condensed financial statements in accordance

(hereinafter ). Our

responsibility is to express a conclusion on these consolidated interim condensed financial statements based on our review.

Scope of review

We conducted our review in accordance with International Standard on Review Engagements 2410,

of consolidated interim condensed financial statements consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with International Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express

an audit opinion.

Basis for qualified conclusion

Management of the Group has not disclosed segment information in the notes to the consolidated interim

six months ended 30 June 2023 and for the comparative period six months ended 30 June 2022.

voluminous, presenting this undisclosed information in our report on review of consolidated interim condensed financial statements is not practicable.

Qualified conclusion

Based on our review, except for the effects of the matter described in the Basis for qualified conclusion section of our report, nothing has come to our attention that causes us to believe that the accompanying consolidated interim condensed financial statements are not prepared, in all material respects, in accordance with IAS 34.

29 August 2023

Moscow, Russian Federation

A.Y. Fegetsyn is authorised to sign on behalf of the general director of Joint-Stock Company (Principal Registration Number of the Record in the Register of Auditors

and Audit Organizations (PRNR) 12006020338), certified auditor (PRNR 21906101957)

PJSC "PhosAgro"

Consolidated Interim Condensed Statement of Financial Position as at 30 June 2023

RUB million	Note	30 June 2023	31 December 2022
Assets
Property, plant and equipment	11	285,270	274,522
Other non-current assets	13	11,001	8,546
Deferred tax assets		9,493	7,903
Advances issued for property, plant and equipment		9,330	9,270
Non-current spare parts		7,093	5,125
Right-of-use assets	12	6,123	4,277
Catalysts		2,192	1,965
Intangible assets		2,147	2,099
Investments in associates		647	592
Non-current assets		333,296	314,299
Trade and other receivables	16	53,494	75,741
Inventories	15	41,584	39,349
Cash and cash equivalents	17	31,673	13,356
VAT and other taxes receivable		11,313	12,565
Income tax receivable		3,996	93
Other financial assets	14	263	210
Current assets		142,323	141,314
Total assets		475,619	455,613
Equity
Share capital		372	372
Share premium		7,494	7,494
Retained earnings		137,754	190,664
Actuarial losses		(968)	(968)
Equity attributable to shareholders of the Parent		144,652	197,562
Equity attributable to non-controlling interests		30	158
Total equity		144,682	197,720
Liabilities
Loans and borrowings	19	179,205	109,784
Deferred tax liabilities		11,720	17,820
Lease liabilities	20	2,376	1,660
Defined benefit obligations		1,066	1,050
Non-current liabilities		194,367	130,314
Loans and borrowings	19	48,949	80,974
Dividends payable		44,329	82
Trade and other payables	21	36,662	39,412
VAT and other taxes payable		5,206	5,632
Lease liabilities	20	1,322	1,276
Income tax payable		102	203
Current liabilities		136,570	127,579
Total equity and liabilities		475,619	455,613

The consolidated interim condensed statement of profit or loss and other comprehensive income is to be read

in conjunction with the notes to, and forming part of, the consolidated interim condensed financial statements set out on pages 5 to 19.

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