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    PHOR   RU000A0JRKT8

PUBLIC JOINT-STOCK COMPANY PHOSAGRO

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Public Joint Stock PhosAgro : World Chess Championship 2021 starts in Dubai

11/26/2021 | 02:10am EST

Dubai - The grand opening of the 2021 World Chess Championship took place in Dubai. The match for the world chess leadership is being held with the support of The International Chess Federation (FIDE) between the current world champion Magnus Carlsen and the winner of the Candidates Tournament in 2020/21 Ian Nepomniashchii.

The general partner of the World Championship is PhosAgro, one of the world leaders in the production of phosphorus-containing mineral fertilizers. The event is held within the framework of the EXPO exhibition.

"This year's World Championship match will be unique in many ways. Thanks to the cooperation between the Expo and FIDE, and business-partners like PhosAgro, we can reach a wider audience. We believe this event will be truly memorable,"- told Arkady Dvorkovich, president of FIDE.

The prize fund of the championship is 2 million euros. According to the regulations, the participants will play a total of 14 games. The first game will be played today, on November 26th, and the final game on December 14th. If the score in the classics is equal, the final match will be held on December 15th in a tie-break.

PhosAgro is also a strategic partner of Russian grandmaster Ian Nepomniachtchi. The company has been a permanent strategic partner of the Russian Chess Federation since 2010. Over the years, young chess players of our country have won more than 100 medals in international children's competitions. Russian grandmasters became world champions in blitz, rapid chess (twice), vice-champions of the world (twice) and three times - winners of the World Cup, and won two online Olympiads. The company is a strategic partner of FIDE and has already sponsored matches for the world chess crown in 2014 in Sochi, in 2016 in New York and in 2018 in London.

In the cities where PhosAgro operates - Cherepovets, Kirovsk, Apatity, Volkhov, Balakovo - the Company supports Children of Russia - Education, Health and Spirituality (DROZD) education centres, where various sports are cultivated, including chess, which gets special attention through chess classes at sponsored schools and preschools.

"PhosAgro has been helping the development of chess in Russia for many years and has set itself the goal of returning the chess crown to its homeland. Consequently, it is important for us to create the most comfortable conditions for Ian in order to prepare for the final match. Either way we will see a great competition between the brightest minds on the planet," - said Andrey Guryev, vice-president of Chess Federation of Russia and PhosAgro CEO.

Magnus Carlsen has held the championship title for the past 8 years and has been the world's highest ranked chess player continuously since 2011. With the victory of Ian Nepomniashchii the chess crown would return to Russia for the first time since 2007.

Disclaimer

OAO PhosAgro published this content on 26 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 November 2021 07:09:06 UTC.


ę Publicnow 2021
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Financials (USD)
Sales 2021 5 383 M - -
Net income 2021 1 661 M - -
Net Debt 2021 1 995 M - -
P/E ratio 2021 5,47x
Yield 2021 12,7%
Capitalization 9 123 M 9 157 M -
EV / Sales 2021 2,07x
EV / Sales 2022 1,95x
Nbr of Employees 25 174
Free-Float 35,4%
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Last Close Price 70,45 $
Average target price 72,95 $
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Managers and Directors
Andrey A. Guryev Chief Executive Officer & Executive Director
Alexander Sharabaika Deputy CEO-Finance & International Projects
Xavier Robert Rolet Chairman
Sven Ombudstvedt Independent Director
Marcus James Rhodes Independent Non-Executive Director
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