Acron Group’s Mineral Fertiliser Output Up 3% in 9M 2020
Group’s Consolidated Output
(including operating results for Acron, Dorogobuzh
and
Product, ‘000 t | 9M 2020 | 9M 2019 | YOY, % |
MINERAL FERTILISERS | |||
Ammonia | 2,071 | 2,049 | 1.1% |
Incl. in-house consumption | 1,980 | 1,795 | |
Nitrogen fertilisers, including | 3,634 | 3,887 | -6.5% |
Incl. in-house consumption | 562 | 868 | |
AN | 1,826 | 1,628 | 12.1% |
Incl. in-house consumption | 170 | 320 | |
Urea | 887 | 946 | -6.2% |
Incl. in-house consumption | 391 | 548 | |
UAN | 921 | 1,312 | -29.8% |
Complex fertilisers, including | 1,747 | 1,584 | 10.2% |
Incl. in-house consumption | 27 | 24 | |
NPK | 1,663 | 1,495 | 11.2% |
Incl. in-house consumption | 27 | 24 | |
Bulk blends | 84 | 90 | -6.4% |
Total commercial output for Mineral Fertilisers | 4,884 | 4,834 | 1.0 |
INDUSTRIAL PRODUCTS | |||
Organic synthesis products, including | 307 | 370 | -16.9% |
Incl. in-house consumption | 155 | 191 | |
Methanol | 71 | 78 | -9.5% |
Incl. in-house consumption | 57 | 70 | |
Formalin | 110 | 132 | -16.7% |
Incl. in-house consumption | 96 | 120 | |
Urea-formaldehyde resins | 127 | 160 | -20.7% |
Incl. in-house consumption | 2 | 1 | |
Non-organic compounds, including: | 757 | 608 | 24.7% |
Low-density and technical-grade AN | 246 | 124 | 99.2% |
Industrial urea | 92 | 96 | -4.9% |
Calcium carbonate | 373 | 342 | 9.4% |
Liquid carbon dioxide | 41 | 41 | 1.2% |
Argon | 5 | 5 | -6.4% |
Total commercial output for Industrial Products | 910 | 787 | 15.5% |
PHOSPHATE INPUTS | |||
Apatite concentrate | 848 | 783 | 8.3% |
Incl. in-house consumption | 684 | 603 | |
Total commercial output for Apatite Concentrate | 164 | 180 | -8.7% |
TOTAL COMMERCIAL OUTPUT | 5,957 | 5,800 | 2.7% |
Note:
Commercial output is output less in-house consumption.
Chairman of Acron’s Board of Directors
‘In 9M 2020, Acron Group’s total commercial output was up 3% year-on-year to 5,957,000 tonnes, while Q3 2020 output exceeded 2 million tonnes for the first time in the Group’s history. Dorogobuzh was the main driving force behind this change following upgrades in late 2019 that increased the capacity of its ammonia unit, which in turn boosted output of all products produced from ammonia.
‘Mineral fertiliser output increased 1% year-on-year to 4,884,000 tonnes in 9M 2020. Industrial products were up 16% to 910,000 tonnes, mainly because of our success promoting industrial-grade ammonium nitrate in international markets, which doubled output over the reporting period.
‘In 9M 2020, ammonia output was up 1% year-on-year to 2,071,000 tonnes, and the volume of ammonia processed through to end products increased to 96% from 88%. In order to maintain our ammonia self-sufficiency for future products, we launched upgrades to the Ammonia-4 unit that are expected to be completed this quarter, increasing the unit’s capacity by 70,000 tpa and providing an opportunity to further expand output of ammonia-based products.
‘In the reporting period, output of agricultural-grade ammonium nitrate was up 12% to 1,826,000 tonnes. Agricultural-grade urea output was 887,000 tonnes, including 145,000 tonnes of granulated urea, a new product that the Group started producing in
‘The Group’s total output of complex fertilisers was up 10% to 1,747,000 tonnes due to strong demand and an increase in production of phosphate feedstock — apatite concentrate — at the Oleniy Ruchey mine. In the reporting period, apatite concentrate output was up 8% year-on-year to 848,000 tonnes.’
Market Trends
In Q3 2020, global urea prices recovered due to strong demand from
Ammonium nitrate prices recovered in Q3 2020 after a seasonal decrease in Q2, while UAN prices fell due to declining seasonal demand in
NPK prices decreased slightly in Q3, while the price trend for the basic product basket was mainly positive, with an increase in urea and DAP prices and a minor decrease in potassium chloride prices. This curbed the NPK premium over the basic product basket, which remained relatively high at approximately 20%.
Average Indicative Prices, USD/t,
Q3 2020 | Q2 2020 | Q3 2019 | Q3 2020 / Q2 2020 change | Q3 2020/ Q3 2019 change | |
NPK 16-16-16 | 253 | 258 | 295 | -2.3% | -14.4% |
AN | 162 | 153 | 196 | +6.0% | -17.4% |
UAN | 114 | 144 | 142 | -20.8% | -19.4% |
Urea | 231 | 207 | 247 | +11.6% | -6.6% |
Ammonia | 186 | 197 | 216 | -5.2% | -13.6% |
Media Contacts:
Public Relations
Phone: +7 (495) 777-08-65 (ext. 5196)
Investor Contacts:
Investor Relations
Phone: +7 (495) 745-77-45 (ext. 5252)
Background Information
In 2019, the Group sold 7.6 million tonnes of main products to 78 countries, with
In 2019, the Group posted consolidated IFRS revenue of
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