Page 151 - RusRPTApr24

Next come China and Indonesia with imports of 2. 1mn tonnes ($892mn) and 1.1mn tonnes ($481mn), respectively.
The top ten largest buyers also include Turkey (936,000 tonnes for $344.6mn), Denmark (887,000 tonnes for $324mn), Germany (677,000 tonnes for $258.6mn), France (676,500 tonnes for $238mn) and Malaysia (623,000 tonnes for $242mn).
At the same time, as Vedomosti wrote with reference to data from the Indian Ministry of Industry and Trade in February, supplies of Russian fertilizers to India at the end of 2023 increased by 1.5 times compared to 2022, amounting to 5.4mn tonnes. In the Russian Ministry of Industry and Trade confirmed an increase in supplies to India, without specifying figures.
Net profit of fertiliser maker Acron under international financial reporting standards (IFRS) plummeted 2.5 times in 2023 compared to 2022 and amounted to 35.9bn rubles ($389mn), the Russian fertilizer producer reported. Revenue over the past year decreased by 1.4 times compared to 2022, to 179.5bn rubles ($1.9bn). EBITDA for 2023 decreased by 2 times, to 68.7bn rubles ($744mn). The Acron Group is one of the world's largest producers of mineral fertilizers. It includes producers of fertilizers and organic synthesis products Acron and Dorogobuzh. The group owns two plants for the production of mineral fertilizers and a mining and processing plant in Russia with a total production capacity of over 8mn tonnes of final products.
9.2.14 Mines and Minerals - other
Rusal’s net profit down by 90% in 2023 to $73mn. Russian aluminium producer Rusal published operating results and financial results under IFRS for 2023 on March 15. Aluminium production remained at the 2022 level and amounted to 3.85mn tonnes, aluminium sales increased by 6.6% y/y to 4.15mn tonnes. The company's revenue decreased by 12.6% y/y to $12.2bn amid a decrease in the average selling price (-18% y/y), cost of sales decreased by 3% y/y. Adjusted EBITDA decreased by 61.2% y/y to $786mn, EBITDA margin was 6.4% versus 14.5% in 2022. Adjusted net profit decreased by 90% y/y to $73mn. Free cash flow at the end of the year became positive and amounted to $308mn, mainly due to the release of working capital. Net debt at the end of 2023 decreased by 7.7% y/y and amounted to $5.8bn, but the debt burden remains elevated - the Net debt/EBITDA ratio was at 7.4x versus 3.1x at the end of 2022.
Russia’s coal production statistics will include output in the Donetsk and Lugansk People’s Republics in 2024, with its scale projected at 443.5mn tonnes, the Russian Energy Ministry’s department head Pyotr Bobylev told a conference. Russian Deputy Prime Minister Alexander Novak said earlier that the country’s coal production decreased to 438.7mn tonnes in 2023.
151 RUSSIA Country Report April 2024 www.intellinews.com