OREANDA-NEWS. EuroChem Mineral and Chemical Company (EuroChem) announced full year 2012 revenues according to IFRS of RUB 166.5bn (USD 5.4bn), which represented a 27% increase on the RUB 131.3bn (USD 4.5bn) reported in 2011. Earnings before interest, taxes, depreciation, and amortization (EBITDA) amounted to RUB 49.2bn, while the Group's EBITDA margin for the twelve months ended 31 December 2012 was 30%.

Full year fertilizer sales volumes for our Nitrogen and Phosphate segments, excluding sales of mining co-products, grew 1,801 thousand tonnes (KMT) to 9,835 thousand tonnes (KMT), representing a 22% increase on the 8,034 KMT sold in 2011.

Much of the annual growth in revenues stemmed from the consolidation effect of EuroChem Antwerpen, EuroChem Agro and Severneft Urengoy. Without the contribution of the assets acquired in 2012, revenues and EBITDA would have amounted to RUB 135.8bn and RUB 45.6bn respectively. On the volumes side, EuroChem Antwerpen and EuroChem Agro together sold a combined 2.5 MMT of fertilizers since their first-time consolidation in Q2 2012 and Q3 2012, respectively.

CEO Dmitry Strezhnev commented: "On balance, 2012 will be remembered as an average year for the fertilizer sector. For us at EuroChem, this past year was all about the strategic steps taken to further entrench us across key markets and bring added depth to our vertical integration. We head into 2013 confident in our ability to capitalize on our recent and ongoing investment initiatives.