OREANDA-NEWS. Acron’s IFRS consolidated revenue was up 3,9% in 2006 to RUR 23,635 billion. Net profit was RUR 2,464 billion, down 27,2% year-on-year. EBITDA fell 20,2% to RUR 4,762 billion.

Lower profit and EBITDA were primarily due to significantly higher prices for the major raw materials used in fertilizer production, including natural gas, apatite concentrate and potassium chloride. In addition, the weakening U.S. dollar also adversely the company’s financial results, as receipts in foreign currency account for most of Acron’s revenue.

In 2006, Acron continued implementing its comprehensive investment programme aimed at equipment modernization and increased production capacity. The company plans to expand its product mix and use its internal resources more efficiently to offset the adverse impact of higher prices for raw materials.

Capital expenditures in the reporting period amounted to RUR 2,94 billion, which is considerably higher than the RUR 1,594 billion spent in 2005.

Acron’s consolidated financial statements for 2006 are available at http://www.acron.ru/