Peer analysis

A MAJOR PLAYER
ACROSS KEY MARKETS

In 2013, compared to fertilizer companies which publicly report their financial information, EuroChem ranked sixth by operating cash flow and revenues and eighth in terms of EBITDA. Our strong position amongst our global peers is underpinned by our unique vertically integrated business model, with access to low-cost raw materials and ongoing investments in efficiency. Our ability to generate strong cash flow from our nitrogen and phosphate operations has allowed us to make significant investments in the third primary nutrient, potash. We ranked fourth in our industry globally in terms of capital expenditure as we invested over US$ 1bn in capex in 2013.

PRODUCTION IN NUTRIENT CONTENT (MMTpa)

2008 2013 2018 Ten year
CAGR
Nitrogen (N) 2.0 2.7 2.8 3.3%
Phosphates (P2O5) 0.8 1.0 1.2 4.2%
Potash (K2O) 0.1 0.2 1.0 27.9%
Total EuroChem* 2.9 4.0 5.0 5.5%
         
Nitrogen (N) 98.5 109.1 118.4 1.9%
Phosphates (P2O5) 34.1 40.9 45.0 2.8%
Potash (K2O) 24.4 28.6 39.9 5.1%
Total World** 157.0 178.6 203.4 2.6%
EuroChem
Market Share
1.9% 2.2% 2.4%
  • Source: Company data, CRU, Fertecon, IFA.
  • * Without LDAN, feed phosphates and EuroChem’s phosphate project in Kazakhstan.
  • ** Production of fertilizers used in agriculture.

2013 SALES IN MMT OF NUTRIENT

Europe Total
market
EuroChem* EuroChem’s
share
Nitrogen (N) 10.97 0.78 7.11%
Phosphates (P2O5) 2.61 0.49 18.89%
Potash (K2O) 2.93 0.01 0.28%
Total: N, P, K 16.51 1.28 7.76%
 
CIS ex-Russia
Nitrogen (N) 2.86 0.28 9.79%
Phosphates (P2O5) 0.68 0.08 11.65%
Potash (K2O) 0.95 0.00 0.52%
 
Russia
Nitrogen (N) 1.54 0.42 27.10%
Phosphates (P2O5) 0.56 0.10 18.36%
Potash (K2O) 0.31 0.01 2.35%
 
CIS
Nitrogen (N) 4.40 0.70 15.84%
Phosphates (P2O5) 1.24 0.18 14.70%
Potash (K2O) 1.26 0.01 0.97%
Total: N, P, K 6.90 0.89 12.91%
  • Source: Company data, CRU, Fertecon, IFA.
  • * Without feed phosphates.

  • 1 Post completion of both potash projects, excluding all other investment initiatives.
  • 2 Twelve months ended 31 December 2013.
  • 3 Twelve months ended 30 September 2013.
  • 4 Twelve months ended 30 June 2013.Sources: Company reports, public filings, Bloomberg.