The global industry – peer analysis
10th
global fertilizer producer by capacity
8th
sales (USD m)
8th
EBITDA (USD m)
3%
Today, EuroChem accounts for 2% of the world’s nutrient capacity. By 2020 we plan to have grown to 3%.
EuroChem is positioned to become one of only four companies globally to produce all three major nutrient groups upon completion of phase I of the Gremyachinskoe potash greenfield project. Combined with ongoing investments in efficiency and product flexibility in our nitrogen and phosphate businesses, this will help us achieve our strategic goal of becoming a top 5 global producer by profitability and volume.
| 2004 | 2010 | 2014E | 10 year CAGR | |
|---|---|---|---|---|
| N | 1.9 | 2.2 | 2.4 | 2.4% |
| P2O5 | 0.8 | 1.1 | 1.2 | 4.1% |
| K2O | 0.1 | 0.1 | 1.2 | 28.2% |
| Total EuroChem | 2.8 | 3.4 | 4.8 | 5.5% |
| N | 89.8 | 103.9 | 110.6 | 2.1% |
| P2O5 | 36.7 | 39.0 | 42.7 | 1.6% |
| K2O | 25.8 | 27.0 | 35.4 | 3.2% |
| Total world | 152.3 | 169.9 | 188.7 | 2.2% |
| EuroChem market share | 1.8% | 2.0% | 2.5% | |
Source: Company data, CRU, Fertecon, IFA.
Data on 2010 sales in million tonnes of nutrients
| Europe | Total market | EuroChem | EuroChem's share |
|---|---|---|---|
| Nitrogen (N) | 10.80 | 0.33 | 3.04% |
| Phosphates (P2O5) | 2.53 | 0.22 | 8.57% |
| Potash (K2O) | 2.75 | 0.01 | 0.36% |
| Total N, P, K | 16.08 | 0.56 | 3.45% |
| CIS ex-Russia | Total market | EuroChem | EuroChem's share |
|---|---|---|---|
| Nitrogen (N) | 1.94 | 0.18 | 9.33% |
| Phosphates (P2O5) | 0.56 | 0.08 | 13.80% |
| Potash (K2O) | 0.92 | 0.02 | 1.95% |
| Russia | Total market | EuroChem | EuroChem's share |
|---|---|---|---|
| Nitrogen (N) | 1.48 | 0.41 | 27.51% |
| Phosphates (P2O5) | 0.53 | 0.11 | 20.75% |
| Potash (K2O) | 0.35 | 0.01 | 3.13% |
| Russia and CIS | Total market | EuroChem | EuroChem's share |
|---|---|---|---|
| Nitrogen (N) | 3.42 | 0.59 | 17.19% |
| Phosphates (P2O5) | 1.09 | 0.19 | 17.22% |
| Potash (K2O) | 1.28 | 0.03 | 2.27% |
| Total N, P, K | 5.78 | 0.80 | 13.90% |
Source: Company data, CRU, Fertecon, IFA.
Sales 2010 (USD m)
EBITDA 2010 (USD m)1
Operating cash flow 2010 (USD m)
Capex (USD m)2
* 12 months ended 30 November 2010.
** 12 months ended 30 June 2010.
*** 12 months ended 30 September 2010.
Ranking by nutrient capacity (MMT p.a.)
Source: Company data, CRU, Fertecon, IFA.
1 EBITDA as reported, otherwise Operating Income + Depreciation & Amortization.
2 Acquisitions of property, plant, equipment and intangible assets.
3 Including Terra.
| Average exchange rate for the period |
3Q 2009 | 4Q 2009 | 1Q 2010 | 2Q 2010 | 3Q 2010 | 2010 |
|---|---|---|---|---|---|---|
| USD/RUB | 31.32 | 29.47 | 29.89 | 30.24 | 30.62 | 30.36 |
| EUR/USD | 1.46 | 1.43 | 1.35 | 1.22 | 1.36 | 1.33 |
| USD/NOK | 6.04 |
Data sources: Bloomberg, EuroChem, Public Filings, JP Morgan.