Key financial and non-financial data

RUR mln 4Q 10 3Q 10 2Q 10 1Q 10 4Q 09 3Q 09 2Q 09 1Q 09 2010 2009 2008
Revenues 28,137 24,261 23,780 21,609 18,330 18,775 17,220 19,252 97,788 73,577 112,174
Nitrogen (including sales to other segments) 14,315 9,882 10,969 12,056 10,303 9,306 9,718 10,250 47,222 39,577 55,920
Phosphates (including sales to other segments) 12,782 13,871 12,623 9,226 7,207 8,513 7,319 8,085 48,502 31,124 52,016
Other (including sales to other segments) 8,562 7,437 6,576 5,924 5,771 4,906 4,063 5,744 28,499 20,484 28,829
Reconciliation (7,523) (6,929) (6,388) (5,596) (4,951) (3,950) (3,880) (4,827) (26,435) (17,608) (24,592)
 
Including: revenues from sales of 3d party products 821 168 45 47 381 482 156 705 1,081 1,724 4,044
Including: revenues from exports to non-CIS markets 19,113 15,482 15,161 12,436 12,232 12,210 11,987 13,519 62,193 49,948 83,799
Including: revenues from exports to CIS markets 2,655 3,394 3,311 3,207 2,250 3,146 2,058 1,578 12,567 9,032 9,284
 
Cost of sales (13,266) (12,413) (11,800) (12,727) (10,911) (11,155) (9,881) (10,936) (50,206) (42,884) (45,798)
Including gas and energy (4,621) (4,308) (4,198) (4,505) (3,998) (3,438) (3,334) (3,100) (17,631) (13,870) (11,899)
Including other materials and components (4,821) (4,091) (3,875) (3,558) (3,423) (3,529) (2,699) (2,987) (16,345) (12,639) (21,138)
Including labour costs (1,724) (1,672) (1,644) (2,229) (1,626) (1,483) (1,429) (1,825) (7,269) (6,362) (6,446)
Including changes in work in progress and finished goods 761 (134) 95 (137) 114 (1,012) (352) (815) 585 (2,065) 3,090
 
Gross profit 14,871 11,849 11,980 8,883 7,418 7,620 7,339 8,316 47,582 30,693 66,376
Gross profit margin, % 53% 49% 50% 41% 40% 41% 43% 43% 49% 42% 59%
 
Distribution costs (4,641) (4,740) (4,792) (3,611) (4,226) (4,173) (4,328) (4,218) (17,785) (16,944) (21,951)
G&A expenses (971) (926) (926) (932) (950) (719) (660) (932) (3,754) (3,261) (3,209)
Other operating income / expense, net 250 (779) 413 99 41 (521) (585) 1,290 (17) 225 (325)
Operating profit 9,509 5,403 6,675 4,439 2,283 2,206 1,766 4,456 26,026 10,712 40,890
Operating profit margin, % 34% 22% 28% 21% 12% 12% 10% 23% 27% 15% 36%
 
Financial foreign exchange gains / (losses) (239) 984 (2,531) 1,396 (56) 1,885 4,549 (5,629) (390) 749 (3,766)
Financial income and expense, net 865 (517) (727) (246) 576 (37) 2,061 (357) (625) 2,243 (345)
Pre-tax profit 10,135 5,870 3,417 5,590 2,803 4,055 8,376 (1,530) 25,011 13,705 36,780
Taxation (1,811) (1,099) (929) (1,120) (640) (797) (987) (205) (4,959) (2,629) (8,891)
Net profit after tax 8,324 4,771 2,488 4,470 2,163 3,258 7,389 (1,735) 20,052 11,075 27,889
Net profit margin, % 30% 20% 10% 21% 12% 17% 43% (9%) 21% 15% 25%
 
Operating profit before depreciation and amortisation 10,479 6,281 7,511 5,221 3,024 2,944 2,513 5,207 29,492 13,689 43,726
EBITDA 10,581 6,347 7,717 5,292 3,055 3,136 4,925 5,400 29,937 16,516 44,297
EBITDA margin, % 38% 26% 32% 24% 17% 17% 29% 28% 31% 22% 39%
 
Dividends declared in the period 4,236 1,598 – – – – – – 5,834 – 10,456
Total equity 94,505 84,014 73,013 77,577 73,195 68,458 67,585 58,128 94,505 73,195 61,037
Non-current assets 120,435 110,931 98,264 101,675 99,662 92,848 94,788 84,154 120,435 99,662 64,414
Capital expenditure on PP&E and intangible assets 6,877 6,323 4,269 2,994 4,867 4,409 4,316 5,110 20,464 18,702 18,818
Net debt (borrowings less cash) 33,893 35,895 34,677 33,406 36,545 35,512 40,240 47,294 33,893 36,545 25,258
Net Working capital 10,758 11,474 12,328 11,781 12,481 13,550 15,173 17,742 10,758 12,481 17,886
Finished goods, days 28 25 25 26 28 28 32 36 28 28 41
Trade accounts receivable, days 10 15 16 15 11 13 7 12 10 11 10
Accounts payable, days 16 14 13 12 12 13 11 10 16 12 15
 
Gross cash flow 8,980 5,227 6,441 4,299 2,624 1,936 3,305 5,051 24,947 12,916 33,565
Other cash from operations 58 795 (197) 592 1,937 1,437 1,099 150 1,247 4,623 (6,809)
Cash flows from operating activities 9,038 6,022 6,244 4,890 4,561 3,374 4,431 5,174 26,194 17,539 26,755
Cash flows from investing activities (1,266) (6,381) (4,121) (2,563) (4,220) (649) (1,995) (20,181) (14,331) (27,045) (35,543)
Free cash flow 7,772 (359) 2,123 2,327 340 2,725 2,436 (15,007) 11,863 (9,507) (8,788)
Cash flows from financing activities (4,961) (98) (3,056) (5,227) (4,236) 721 (3,671) (690) (13,342) (7,876) 18,031
Effect of exchange rates (36) 79 28 (371) 28 45 (696) 2,458 (300) 1,834 1,914
Net (decrease) / increase in cash and cash equivalents 2,775 (377) (906) (3,271) (3,868) 3,490 (1,931) (13,240) (1,780) (15,549) 11,157
 

Sales volumes, including sales to other segments (KMT)
Nitrogen
Ammonia 85 133 135 168 187 179 132 145 521 643 616
Urea 525 354 411 418 356 363 391 402 1,709 1,512 1,168
AN 457 375 382 496 577 323 441 489 1,710 1,830 1,479
UAN 217 117 147 199 123 206 174 162 680 665 920
Complex fertilizers 107 99 129 121 79 106 76 80 456 341 349
CAN 61 28 28 23 15 0 – 1 140 16 –
Organic synthesis products 107 103 128 117 134 91 79 65 455 369 492
Phosphates
MAP, DAP 379 534 463 474 405 519 366 378 1,849 1,668 1,386
Complex fertilizers 2 15 4 2 3 9 2 4 23 18 29
NP 9 24 41 13 8 17 21 6 87 52 116
Feed phosphates 64 65 57 50 44 46 39 34 236 163 210
Apatite 52 51 73 44 35 39 62 78 219 215 273
Mineral raw materials
Iron ore 1,579 1,549 1,603 1,385 1,772 1,556 1,463 787 6,116 5,579 4,688
Baddeleyite 3 1 2 2 2 2 1 1 8 5 7
 
Permanent employees 19,614 19,469 19,214 19,224 20,034 20,111 20,057 20,030 19,614 20,034 21,526
Production 9,348 9,288 9,171 9,255 10,926 11,495 10,190 10,607 9,348 10,926 13,439
Service 7,349 7,187 7,087 7,018 5,803 5,011 6,093 5,542 7,349 5,803 4,460
Logistics 1,008 1,093 1,070 1,050 1,093 1,241 1,315 1,300 1,008 1,093 1,268
Sales, admin and other 1,909 1,901 1,886 1,901 2,212 2,364 2,459 2,581 1,909 2,212 2,359
 
Average RUR / USD exchange rate for the period 30.71 30.62 30.24 29.89 29.47 31.33 32.21 33.93 30.37 31.72 24.86
End of period RUR / USD exchange rate 30.48 30.40 31.20 29.36 30.24 30.09 31.29 34.01 30.48 30.24 29.38