PhosAgro PJSC (PHOR)
PhosAgro PJSC: PhosAgro Announces Results of Extraordinary General Meeting of Shareholders

16-Dec-2022 / 09:59 MSK
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PhosAgro Announces Results of Extraordinary General Meeting of Shareholders

 

Moscow – PhosAgro (Moscow Exchange, LSE: PHOR), one of the world’s leading vertically integrated phosphate-based fertilizer producers, announces the results of an Extraordinary General Meeting of Shareholders (EGM) held on 8 December 2022.

The EGM took place in accordance with a decision of PhosAgro’s Board of Directors, which, at a meeting on 3 November 2022, highlighted significant progress in the implementation of the Company’s climate strategy and discussed the Company’s financial statements for the first nine months of 2022.

The EGM noted PhosAgro’s strong performance over the first three quarters of 2022. Mineral fertilizer production increased by 6.7% year-on-year, reaching 8.1 million tonnes. With this trend in mind, the Company was able to improve its forecast for the year: production could exceed 10.9 million tonnes, a year-on-year increase of almost 5%. This expansion was made possible thanks to the smooth, uninterrupted operation of new production facilities launched as part of the Company’s comprehensive long-term development programme. 

The Company will invest about RUB 64 billion (including for major overhauls) this year, and more than RUB 250 billion in the next five years. At the EGM, PhosAgro’s shareholders approved a decision to pay out dividends in the amount of RUB 318 per ordinary share. The dividend record date was set as 19 December 2022.

“In the current environment, we are not scaling back our investment programme; we are going to allocate a record amount of funds for the development of our production facilities this year. The Company’s tax payments are going to increase by 50%. In addition, we have more than doubled our support for social and charitable programmes, to RUB 10.9 billion. At the same time, PhosAgro is fulfilling its obligations to its shareholders by paying out dividends that are reinvested in the Russian economy”, said Viktor Cherepov, Chairman of the Company’s Board of Directors, in commenting on the results of the EGM.

About the Company

PhosAgro (www.phosagro.ru) is a vertically integrated Russian company and one of the world’s leading producers of mineral phosphorous fertilizers and of high-grade apatite concentrate grading 39% P2O5 and higher. PhosAgro’s fertilizers are highly effective, ensuring the improved quality of agricultural produce and avoiding soil contamination by heavy metals.

PhosAgro Group is the largest manufacturer of phosphate-based fertilisers in Europe (by total capacity of NAP/MAP/NP/NPK/NPS production), the largest producer of phosphite grading 39% P2O5  in the world and one of the leading global producers of ammonium and diammonium phosphate, one of Europe’s leading and the only producer in Russia of monocalcium phosphate feed, and the only producer in Russia of nepheline concentrate.

The company’s main products, including phosphite, over 50 types of fertilizer, phosphate feed, ammonium, and sodium tripolyphosphate, are used in over 102 countries on all inhabited continents. Our priority markets, besides Russia and the CIS, are Latin America, Europe, and Asia.

The company's shares are listed on the Moscow Exchange and its Global Depositary Receipts (GDRs) are listed on the London Stock Exchange (MOEX and LSE ticker: PHOR).

More information about PhosAgro PJSC can be found on our site: www.phosagro.ru 



ISIN: US71922G2093
Category Code: GMS
TIDM: PHOR
LEI Code: 25340053KRUNNYUWF472
OAM Categories: 2.2. Inside information
Sequence No.: 209086
EQS News ID: 1514783

 
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