JSC Dorogobuzh’s IAS Net Profit Increased 4.5 Times in 2005, Reaching RUR 2.058 bln.


Date: 26.07.2006, Information source: JSC Acron

Moscow, July 25, 2006. In 2005, JSC Dorogobuzh, a member of Acron chemical group, increased its net profit calculated in compliance with International Accounting Standards by a factor of 4.5, reaching RUR 2.058 billion and saw sales volumes up 33.4% to RUR 5.824 billion.

Acron Chemical Holding ranks fifth in Europe for mineral fertilizer output. Its core business is manufacturing nitrogen and complex fertilizers.

Financial indicators for Dorogobuzh showed the following dynamics as of the end of 2005:

  • EBITDA reached RUR 1,435.8 million (more than double year-on-year).
  • Relative profitability indicators improved as well: the EBITDA breakeven level rose to 24.7% (compared to 13.4% in 2004); net profit breakeven was 35.3% (compared to 10.4% in 2004).
  • The volume of cash and cash equivalents at Dorogobuzh’s disposal rose 36.0% in 2005 to RUR 347.0 million, which contributed to a 2.0% decrease in net indebtedness to RUR 658.0 million.
  • Dorogobuzh’s assets increased by 40.2% to RUR 6,925.4 million which added to their liquidity: current ratio went up to 1.21 versus 1.02 last year.
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