REG-PhosAgro PJSC PhosAgro PJSC: PhosAgro Produced Record 11 Million Tonnes of Agrochemicals in 2022

PhosAgro PAOAnnouncement

02/02/2023 15:15

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   PhosAgro PJSC (PHOR)
   PhosAgro PJSC: PhosAgro Produced Record 11 Million Tonnes of Agrochemicals
   in 2022

   02-Feb-2023 / 18:00 MSK
   Dissemination of a Regulatory Announcement that contains inside
   information in accordance with the Market Abuse Regulation (MAR),
   transmitted by EquityStory RS.
   The issuer is solely responsible for the content of this announcement.

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      PhosAgro Produced Record 11 Million Tonnes of Agrochemicals in 2022

     • As  a  result  of  the  consistent  implementation  of  its  long-term
       development  programme,   PhosAgro   increased   its   production   of
       agrochemicals by almost 5% year-on-year to a record 11 million  tonnes
       in 2022.
     • Over the next five years, PhosAgro intends to invest more than RUB 250
       billion, including nearly RUB  67 billion in 2023,  an increase of  6%
       over last year’s record capex.
     • The Company’s  portfolio  of  eco-efficient  mineral  fertilizers  for
       farmers expanded to include 57 brands.
     • PhosAgro Group’s tax payments for 2022  increased by 50% to more  than
       RUB 59 billion.
     • PhosAgro increased its funding for  social and charitable projects  by
       nearly 150%, to RUB 12.8 billion.

   Moscow –  PJSC  PhosAgro (Moscow  Exchange,  LSE: PHOR)  (“PhosAgro”,  the
   “Company”),   one   of   the   world’s   leading   vertically   integrated
   phosphate-based  fertilizer   producers,  increased   its  production   of
   agrochemicals to a record 11 million tonnes in 2022.

   “Our new production  record is  the result  of the  dedicated teamwork  of
   PhosAgro Group’s entire workforce  of thousands. In  the face of  external
   challenges,  the  Company  maintained  uninterrupted  production,  quickly
   redirected exports to new markets  and made a significant contribution  to
   the  country’s   food  security   by   providing  Russian   farmers   with
   eco-efficient fertilizers.

   “Thanks to its  excellent production performance,  PhosAgro increased  its
   taxes paid at all levels by 50%  and also expanded its support for  social
   and charitable projects throughout the country by nearly 150%. At the same
   time, the Company is fulfilling its obligations to shareholders by  paying
   out dividends that are reinvested in the Russian economy.

   “PhosAgro remains committed to the ESG agenda. In this regard, we continue
   to expand  our cooperation  with  the UN  through joint  initiatives  with
   UNESCO and the UN’s Food and Agriculture Organization (FAO), focusing  our
   efforts on the  elimination of  hunger, soil  conservation throughout  the
   world and sustainability,”  said Viktor Cherepov,  Chairman of  PhosAgro’s
   Board of Directors.

   PhosAgro CEO  Mikhail  Rybnikov  stressed  that, in  the  context  of  the
   Company’s long-term development strategy, a  record amount of funds  would
   be allocated for investments this year – nearly RUB 67 billion.

   “The  most  important  event  for  PhosAgro  in  2023  will  be  when  our
   state-of-the-art phosphate-based fertilizer production facility in Volkhov
   reaches design capacity;  it is going  to be an  innovative leader in  the
   industry for years to come. The  output of finished product will  increase
   fourfold compared with 2019.  The processing of  phosphate rock, the  main
   feedstock for the production  of fertilizers, will  also rise. Volkhov  is
   where we are  going to  produce water-soluble  monoammonium phosphate,  an
   innovative product in high demand among farmers and widely used in  foliar
   technologies and in fertigation.

   “The implementation of  the large-scale programme  for the development  of
   our ore and  raw material resources  in Kirovsk will  continue, where  the
   second start-up  complex for  the 10th  horizon at  the Kirovsky  mine  is
   expected to  come  online by  the  end of  the  year. In  Cherepovets,  in
   addition to projects to support capacities for the production of  ammonia,
   phosphoric acid and sulphuric acid, we plan to increase the processing  of
   phosphate rock. In Balakovo, we are going to complete projects to increase
   the production of  feed phosphates and  sulphuric acid by  the end of  the
   year, and we are also starting the  third stage in the development of  the
   production  facility  by  establishing  a  flexible  arrangement  for  the
   production  of  MAP/DAP/NPS/NPK   fertilizers,”  said  Mikhail   Rybnikov,
   commenting on PhosAgro Group’s investment programme for 2023.

   About the Company

   PhosAgro ( 1 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.

   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:
    2 www.phosagro.ru 

    

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   ISIN:           US71922G2093
   Category Code:  MSCH
   TIDM:           PHOR
   LEI Code:       25340053KRUNNYUWF472
   OAM Categories: 2.2. Inside information
   Sequence No.:   220452
   News ID:        1550501


    
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