KEY FINANCIAL AND NON-FINANCIAL DATA

  2013 2012 2010 FY
(RUB m) Q4 2103 Q3 2013 Q2 2013 Q1 2013 Q4 2012 Q3 2012 Q2 2012 Q1 2012 Q4 2010 Q3 2010 Q2 2010 Q1 2010 2013 2012 2011
Revenues 43,864 41,043 45,378 46,651 41,699 47,102 41,896 35,781 28,137 24,261 23,780 21,609 176,937 166,478 131,298
 Nitrogen (including sales to othersegments) 26,205 21,828 25,617 26,415 26,363 25,428 23,609 17,068 14,315 9,882 10,969 12,056 100,064 92,468 63,108
 Phosphates (including sales to othersegments) 14,064 14,579 14,457 15,180 11,609 14,917 16,483 17,758 12,782 13,871 12,623 9,226 58,280 60,766 63,925
 Other (including sales to other segments) 14,664 14,857 15,234 14,202 14,128 17,825 9,937 8,269 8,562 7,437 6,576 5,924 58,956 50,158 32,336
 Reconciliation (11,068) (10,221) (9,929) (9,145) (10,401) (11,068) (8,133) (7,313) (7,523) (6,929) (6,388) (5,596) (40,364) (36,915) (28,071)
                               
Cost of sales (28,778) (26,222) (28,414) (29,383) (25,948) (29,558) (22,741) (19,521) (13,266) (12,413) (11,800) (12,727) (112,797) (97,768) (63,641)
 Including gas and energy (6,580) (5,921) (5,020) (5,780) (5,916) (5,607) (5,037) (5,085) (4,621) (4,308) (4,198) (4,505) (23,300) (21,646) (20,313)
 Including other materials and components (10,755) (14,586) (14,690) (14,776) (14,904) (16,922) (10,990) (7,074) (4,821) (4,091) (3,875) (3,558) (54,807) (49,889) (26,982)
 Including labour costs (2,790) (2,575) (2,825) (2,741) (2,729) (2,290) (2,474) (2,348) (1,724) (1,672) (1,644) (2,229) (10,931) (9,842) (8,064)
 Including changes in work in progress andfinished goods (1,779) 2,242 (776) (1,306) 2,841 (166) 95 (1,398) 761 (134) 95 (137) (1,618) 1,372 2,850
                               
Gross profit 15,086 14,821 16,964 17,268 15,750 17,544 19,155 16,261 14,871 11,849 11,980 8,883 64,140 68,710 67,657
Gross profit margin, % 34% 36% 37% 37% 38% 37% 46% 45% 53% 49% 50% 41% 36% 41% 52%
                               
Distribution costs (6,919) (6,349) (6,088) (5,905) (6,204) (6,237) (5,575) (5,274) (4,641) (4,740) (4,792) (3,611) (25,261) (23,291) (18,952)
G&A expenses (1,931) (1,686) (1,626) (1,466) (1,755) (1,317) (1,341) (1,186) (971) (926) (926) (932) (6,709) (5,599) (4,653)
Other operating income / expense, net (138) (833) 600 (55) (8) (184) 1,443 (882) 250 (779) 413 99 (425) 371 (191)
Operating profit 6,098 5,953 9,850 9,842 7,784 9,806 13,682 8,919 9,509 5,403 6,675 4,439 31,743 40,191 43,860
Operating profitmargin, % 14% 15% 22% 21% 19% 21% 33% 25% 34% 22% 28% 21% 18% 24% 33%
Write-off of portion ofassets at the Gremyachinskoe potash deposit         (75) (3,116) 53 (549)           (3,686)  
Financial foreignexchange gains / (losses) (1,135) 891 (3,972) (1,676) 1,215 3,449 (5,779) 5,430 (239) 984 (2,531) 1,396 (5,892) 4,315 (3,804)
Financial income andexpense, net (1,226) (2,015) (2,178) (1,484) 411 463 (2,797) 1,401 865 (517) (727) (246) (6,902) (522) 44
Pre-tax profit 3,737 4,830 3,701 6,682 9,334 10,107 5,107 15,750 10,135 5,870 3,417 5,590 18,949 40,298 40,100
Taxation (1,123) (1,839) (1,868) (1,863) (1,359) (2,200) (2,157) (2,013) (1,811) (1,099) (929) (1,120) (6,694) (7,729) (8,069)
Net profit after tax 2,613 2,990 1,833 4,819 7,976 7,906 2,950 13,737 8,324 4,771 2,488 4,470 12,256 32,569 32,031
Net profit margin, % 6% 7% 4% 10% 19% 17% 7% 38% 30% 20% 10% 21% 7% 20% 24%
                               
Operatingprofit before depreciation and amortisation 8,664 8,342 12,318 12,296 10,210 12,050 15,646 10,373 10,479 6,281 7,511 5,221 41,620 48,279 48,344
EBITDA 9,248 8,661 12,699 12,352 10,288 11,663 15,890 11,326 10,581 6,347 7,717 5,292 42,961 49,168 49,656
EBITDA margin, % 21% 21% 28% 26% 25% 25% 38% 32% 38% 26% 32% 24% 24% 30% 38%
                               
Dividends declared in the period                 4,236 1,598          
Total equity 121,813 107,933 107,062 103,252 106,797 108,156 101,685 96,902 94,505 84,014 73,013 77,577 121,813 106,797 90,371
Capital expenditure on PP&E and intangible assets 32,433 8,300 7,230 7,354 9,216 6,585 6,399 5,956 6,877 6,323 4,269 2,994 32,433 28,157 23,805
Net debt (borrowingsless cash) 89,412 96,881 93,481 87,942 79,443 67,966 69,088 65,081 33,893 35,895 34,677 33,406 89,412 79,443 67,242
Non-current assets  199,614 192,072 186,263 178,739 174,166 162,921 157,698 152,362 120,435 110,931 98,264 101,675 199,614 174,166 140,504
Net Working capital 23,126 24,202 25,906 24,877 23,880 21,114 24,067 20,448 10,758 11,474 12,328 11,781 23,126 23,880 17,044
Annualized after-taxcash return on capital employed 15% 13% 20% 21% 18% 21% 30% 22% 27% 17% 25% 15% 16% 21% 26%
Finished goods, days 33 41 33 37 46 60 32 27 28 25 25 26 33 46 37
Trade accountsreceivable, days 25 23 27 26 23 27 28 12 10 15 16 15 25 23 10
Accounts payable, days 28 28 27 24 31 72 23 18 16 14 13 12 28 31 19
                               
Gross cash flow 8,260 7,495 10,152 9,717 8,995 10,004 13,290 8,819 8,980 5,227 6,441 4,299 35,624 41,108 41,768
Other cash from operations 1,760 269 (576) (915) (3,801) 1,591 (2,204) 2,182 58 795 (197) 592 538 (2,232) (5,737)
Cash flows from operating activities 10,021 7,763 9,576 8,803 5,194 11,595 11,086 11,001 9,038 6,022 6,244 4,890 36,163 38,876 36,031
Cash flows from investing activities (10,553) (9,219) (7,803) (4,616) (8,137) (11,536) (11,306) 13,285 (1,266) (6,381) (4,121) (2,563) (32,191) (17,695) (53,703)
Free cash flow (532) (1,455) 1,773 4,186 (2,943) 60 (221) 24,286 7,772 (359) 2,123 2,327 3,972 21,182 (17,672)
Cash flows from financing activities 2,155 (1,081) (1,309) (3,716) (436) 1,224 2,286 (16,948) (4,961) (98) (3,056) (5,227) (3,952) (13,874) 16,840
Effect of exchange rates 236 24 742 86 (39) (815) 885 (402) (36) 79 28 (371) 1,088 (371) 442
Net decrease / increase in cash and cash equivalents 1,860 (2,513) 1,205 556 (3,418) 468 2,951 6,936 2,775 (377) (906) (3,271) 1,108 6,937 (390)
                               
Sales volumes, including sales to other segments (thousand tonnes) Q4 2103 Q3 2013 Q2 2013 Q1 2013 Q4 2012 Q3 2012 Q2 2012 Q1 2012 Q4 2010 Q3 2010 Q2 2010 Q1 2010 2013 2012 2011
Nitrogen                              
 Ammonia 66 52 29 14 75 66 40 25 85 133 135 168 161 205 242
 Urea 489 434 588 443 563 466 542 534 525 354 411 418 1,955 2,105 1,920
 AN 483 373 427 435 468 486 508 477 457 375 382 496 1,717 1,939 1,732
 UAN 324 223 268 271 238 205 159 164 217 117 147 199 1,086 766 719
 Complex fertilizers 363 304 362 396 295 368 282 129 107 99 129 121 1,425 1,074 401
 NP 57 11 26 31 45 30 9           125 85  
 CAN 302 199 203 238 254 221 205 79 61 28 28 23 943 759 191
 ANF 75 59 70 102                 307    
 Organic synthesis products 142 132 77 124 106 105 117 118 107 103 128 117 475 446 442
 Melamine 7 4 7 7                 25    
                               
Phosphates                              
 MAP, DAP 451 423 445 523 313 464 460 591 379 534 463 474 1,842 1,829 1,866
 Complex fertilizers                 2 15 4 2      
 NP 13 36 22 45 13 64 67 25 9 24 41 13 117 170 115
 Feed phosphates 89 75 61 82 69 66 80 75 64 65 57 50 307 290 240
 Apatite 31 31 23 54 41 43 35 48 52 51 73 44 140 167 166
 Mineral raw materials                              
 Iron ore 1,586 1,570 1,482 1,213 1,368 1,132 1,398 1,388 1,579 1,549 1,603 1,385 5,851 5,287 5,468
 Baddeleyite  2 2 2 2 2 2 3 2 3 1 2 2 7 8 12
                               
 Natural gas (mcm), including sales to own Nitrogen plants 222 219 201 188 174 158 166 156         830 654  
 Gas condensate 39 35 36 31 30 27 28 26         141 112  
                               
Revenue by region, including sales to other segments (RUBm) Q4 2103 Q3 2013 Q2 2013 Q1 2013 Q4 2012 Q3 2012 Q2 2012 Q1 2012 Q4 2010 Q3 2010 Q2 2010 Q1 2010 2013 2012 2011
                               
 Nitrogen                              
 Russia  7,594 4,281 4,524 6,326 4,718 4,035 4,955 6,293 3,493 2,469 1,867 5,253 22,725 20,001 16,075
 CIS (ex Russia) 72 1,347 2,326 1,748 1,958 820 1,435 1,620 740 482 1,943 616 5,494 5,834 4,918
 Asia 4,192 2,679 4,003 2,644 2,587 3,178 2,112 594 1,283 1,098 1,366 1,083 13,518 8,470 9,578
 Europe 8,605 6,545 6,424 9,737 8,625 7,732 4,695 3,152 3,161 2,681 2,362 2,208 31,310 24,204 8,694
 Latin America 1,373 3,164 3,875 1,445 2,386 4,127 6,178 1,501 2,420 1,981 1,829 1,072 9,856 14,192 13,975
 North America 3,542 2,680 2,783 3,630 4,912 4,706 2,688 3,179 2,963 572 1,116 1,160 12,635 15,485 6,974
 Africa 640 564 1,022 738 343 711 732 467 256 519 402 568 2,965 2,253 1,852
 Australasia 186 569 660 147 833 118 815 263   79 83 97 1,562 2,029 1,043
Total sales 26,205 21,828 25,617 26,415 26,363 25,428 23,609 17,068 14,315 9,882 10,969 12,056 100,064 92,468 63,108
                               
Phosphates                               
 Russia 2,204 3,162 2,401 2,742 3,181 4,560 3,425 3,290 2,951 3,076 2,357 1,821 10,509 14,456 14,191
 CIS (ex. Russia) 416 1,345 1,116 1,200 684 1,422 1,326 767 1,334 2,099 1,807 1,271 4,077 4,199 8,322
 Asia 4,479 5,266 4,278 3,174 3,312 2,871 5,555 4,812 2,359 4,098 5,322 2,004 17,197 16,550 20,310
 Europe 4,820 2,636 3,914 5,536 3,584 3,169 3,557 5,270 3,013 2,597 1,267 1,898 16,906 15,580 11,406
 Latin America 1,138 1,128 1,723 872 522 2,017 2,048 2,499 1,342 1,547 1,555 2,018 4,860 7,086 3,953
 North America 884 579 477 1,491 275 452 355 818 1,643 260 178 214 3,431 1,900 3,683
 Africa 123 463 546 167 51 426 217 301 106 194 138   1,298 995 2,057
 Australasia                 35           5
Total sales 14,064 14,579 14,457 15,180 11,609 14,917 16,483 17,758 12,782 13,871 12,623 9,226 58,280 60,766 63,925
                               
Revenue
by product, including sales to other segments (RUBm)
Q4 2103 Q3 2013 Q2 2013 Q1 2013 Q4 2012 Q3 2012 Q2 2012 Q1 2012 Q4 2010 Q3 2010 Q2 2010 Q1 2010 2013 2012 2011
Nitrogen                              
 Urea 4,940 4,645 6,865 5,562 7,292 6,573 8,258 6,604 5,298 2,652 3,237 3,360 22,012 28,726 23,718
 Ammonium Nitrate 4,154 3,249 3,969 4,187 4,210 4,464 4,558 3,670 3,007 2,416 2,459 2,970 15,559 16,903 13,953
 UAN 2,514 1,856 2,410 2,671 2,363 1,939 1,436 1,320 1,718 691 836 1,237 9,452 7,058 6,518
 Complex 5,169 4,765 5,707 6,146 4,798 5,897 3,788 1,578 1,007 846 1,176 1,084 21,787 16,060 4,685
 Ammonia 818 717 436 235 1,275 1,058 509 308 736 1,114 1,155 1,294 2,207 3,151 3,079
 CAN 2,544 1,854 1,988 2,388 2,583 2,238 1,670 621         8,774 7,113 1,533
 ANF 704 620 745 1,143                 3,212    
 NP 863 196 434 501 790 515 114           1,994 1,418  
 Melamine 315 212 340 312 58               1,180 58  
 Others 1,505 1,433 1,250 1,290 1,189 1,136 1,415 1,197 1,423 1,186 944 994 5,479 4,938 4,430
 Acetic Acid 531 460 303 576 417 276 529 373 530 407 349 467 1,870 1,595 1,993
 Methanol 1,514 1,309 698 984 863 931 860 927 596 571 812 648 4,505 3,582 3,199
 Hydrocarbons 633 511 468 422 524 401 472 469         2,035 1,866  
Total sales 26,205 21,828 25,617 26,415 26,363 25,428 23,609 17,068 14,315 9,882 10,969 12,056 100,064 92,468 63,108
                               
Phosphates                               
 MAP, DAP 5,747 6,626 7,044 8,115 5,292 8,391 7,933 10,137 6,243 7,537 6,391 5,371 27,532 31,753 32,831
 Iron ore 5,890 5,552 5,355 4,259 3,970 3,543 5,282 5,041 4,649 4,403 4,257 2,394 21,056 17,837 21,953
 Feed phosphates group 1,388 1,257 973 1,246 1,133 1,057 1,262 1,175 900 868 736 564 4,864 4,627 3,994
 Apatite 227 227 182 427 339 358 274 356 257 229 344 186 1,062 1,326 1,141
 Baddeleyite 208 203 201 213 249 205 342 204 181 134 167 123 825 1,000 1,027
 NP 145 434 258 521 164 895 942 313 96 225 403 102 1,358 2,315 1,423
 Complex fertilizers             1   20 167 43 18   1 3
 Others 459 281 445 399 463 467 447 531 436 308 281 467 1,583 1,908 1,553
Total sales 14,064 14,579 14,457 15,180 11,609 14,917 16,483 17,758 12,782 13,871 12,623 9,226 58,280 60,766 63,925
                               
Permanent employees 22,310 22,296 22,232 22,182 22,073 22,041 21,872 21,596 19,614 19,469 19,214 19,224 22,310 22,073 20,801
 Production 9,930 9,944 9,867 10,010 10,090 10,115 10,108 10,011 9,348 9,288 9,171 9,255 9,930 10,090 9,670
 Service 8,208 8,215 8,252 8,259 8,299 8,275 8,286 8,226 7,349 7,187 7,087 7,018 8,208 8,299 7,926
 Logistics 1,868 1,850 1,841 1,694 1,575 1,580 1,473 1,379 1,008 1,093 1,070 1,050 1,868 1,575 1,300
 Sales, admin and other 2,303 2,287 2,272 2,219 2,109 2,071 2,005 1,980 1,909 1,901 1,886 1,901 2,303 2,109 1,905
                               
Average RUB / USD exchange rate for the period 33 33 32 30 31 32 31 30 31 31 30 30 32 31 29
End of period RUB / USD exchange rate 33 32 33 31 30 31 33 29 30 30 31 29 33 30 32