OREANDA-NEWS. On 15 April 2008 was announced, that unprecedented investments in production, capacity increase and modernization of the existing ones permitted to OJSC MCC “EuroChem” to achieve significant successes – this is evidenced by 2007 annual results of the company prepared according to international financial reporting standards (IFRS) and 2007 published today.

Net gain from sales – 73,821 million rubles (which is 38% higher than the indicator of 2006).

The amount of investments (capital investments) into production facilities amounted to 7.749.357 thousand rubles (which is higher than the indicator of 2006 by 43%). The main contributions are presented by the following projects of 2007:

- Opening of a new factory for enrichment of baddeleyite-apatite sands which permitted to increase production of apatite concentrate (Kovdorsky GOK, Murmansk Region) by 25%;

- Modernization of the aggregate for production of ammonia with improvement of technical and economic indicators” at the workshop Ammiak-2 at the OJSC “NAK Azot” which permitted to increase generation of ammonia by 144 tons per day (city of Novomosskovsk, the Tula Region);

- Construction of treatment facilities at OJSC MCC “EuroChem - BMU” (city of Belorechensk, the Krasnodar Territory) permitting to direct treated water to the technological process, up to 1000 m3/day;

- Modernization of the workshop of carbamide-2 which increase productivity by 100 tons per day, at that saving of steam amounted to 0.01 Gcal. (OJSC “Nevinnomyssky Azot”, the Stavropol Region);

- Purchase and assembly of the unit for utilization of technological heat of sulfuric acid production, permitting to generate internal energy resources (“Lifosa”, Litva);

- Reconstruction of the sulfuric acid workshop at LLC “PG “Phosphorite” including reconstruction of the warehouse of sulfuric acid and liquid sulfur, replacement of the contact apparatus, construction of the turbine with capacity of 12 MW which permits to increase productivity of the workshop up to 1 million tons per year (Kingisep, the Leningrad Region).

Earnings before interest, tax, depreciation and amortization (EBITDA) – 22 510 million rubles (which is higher than the indicator of 2006 by 89%).   

Net profit – 16 174 million rubles (which is higher than the indicator of 2006 by 131%).

Rating agencies Fitch and Standard&Poor’s assigned to OJSC “MCC “EuroChem” in February 2007 the credit rating ВВ-, in March the company carried out successful offering of euro bonds at the total amount of \\$300 million dollars.