Acron Group’s Mineral Fertiliser Output Up 3% in 9M 2020


19 October 2020

Acron Group’s Mineral Fertiliser Output Up 3% in 9M 2020

Group’s Consolidated Output
(including operating results for Acron, Dorogobuzh
and North-Western Phosphorous Company)

Product, ‘000 t9M 20209M 2019YOY, %
Incl. in-house consumption1,9801,795
Nitrogen fertilisers, including3,6343,887-6.5%
Incl. in-house consumption562868
Incl. in-house consumption170320
Incl. in-house consumption391548
Complex fertilisers, including1,7471,58410.2%
Incl. in-house consumption2724
Incl. in-house consumption2724
Bulk blends8490-6.4%
Total commercial output for Mineral Fertilisers4,8844,8341.0
Organic synthesis products, including307370-16.9%
Incl. in-house consumption155191
Incl. in-house consumption5770
Incl. in-house consumption96120
Urea-formaldehyde resins127160-20.7%
Incl. in-house consumption21
Non-organic compounds, including:75760824.7%
Low-density and technical-grade AN24612499.2%
Industrial urea9296-4.9%
Calcium carbonate3733429.4%
Liquid carbon dioxide41411.2%
Total commercial output for Industrial Products91078715.5%

Apatite concentrate8487838.3%
Incl. in-house consumption684603
Total commercial output for Apatite Concentrate164180-8.7%

Commercial output is output less in-house consumption.

Chairman of Acron’s Board of Directors Alexander Popov commented on the results:

‘In 9M 2020, Acron Group’s total commercial output was up 3% year-on-year to 5,957,000 tonnes, while Q3 2020 output exceeded 2 million tonnes for the first time in the Group’s history. Dorogobuzh was the main driving force behind this change following upgrades in late 2019 that increased the capacity of its ammonia unit, which in turn boosted output of all products produced from ammonia.
‘Mineral fertiliser output increased 1% year-on-year to 4,884,000 tonnes in 9M 2020. Industrial products were up 16% to 910,000 tonnes, mainly because of our success promoting industrial-grade ammonium nitrate in international markets, which doubled output over the reporting period.
‘In 9M 2020, ammonia output was up 1% year-on-year to 2,071,000 tonnes, and the volume of ammonia processed through to end products increased to 96% from 88%. In order to maintain our ammonia self-sufficiency for future products, we launched upgrades to the Ammonia-4 unit that are expected to be completed this quarter, increasing the unit’s capacity by 70,000 tpa and providing an opportunity to further expand output of ammonia-based products.
‘In the reporting period, output of agricultural-grade ammonium nitrate was up 12% to 1,826,000 tonnes. Agricultural-grade urea output was 887,000 tonnes, including 145,000 tonnes of granulated urea, a new product that the Group started producing in March 2020 at our Novgorod-based facility. Because of the weak UAN price environment, we cut UAN output 30% to 921,000 tonnes.
‘The Group’s total output of complex fertilisers was up 10% to 1,747,000 tonnes due to strong demand and an increase in production of phosphate feedstock — apatite concentrate — at the Oleniy Ruchey mine. In the reporting period, apatite concentrate output was up 8% year-on-year to 848,000 tonnes.’

Market Trends

In Q3 2020, global urea prices recovered due to strong demand from India following a seasonal drop in Q2 2020. India’s imports and seasonal demand in Brazil and Europe are expected to support the market through Q4. Additional support for urea prices will come from higher production costs in Europe driven by the recovery in gas prices.
Ammonium nitrate prices recovered in Q3 2020 after a seasonal decrease in Q2, while UAN prices fell due to declining seasonal demand in the United States, the key UAN market.
NPK prices decreased slightly in Q3, while the price trend for the basic product basket was mainly positive, with an increase in urea and DAP prices and a minor decrease in potassium chloride prices. This curbed the NPK premium over the basic product basket, which remained relatively high at approximately 20%.

Average Indicative Prices, USD/t, FOB Baltic/Black Sea

Q3 2020Q2 2020Q3 2019Q3 2020 /
Q2 2020

Q3 2020/
Q3 2019

NPK 16-16-16253258295-2.3%-14.4%

Media Contacts:

Sergey Dorofeev
Anastasia Gromova
Tatiana Smirnova
Public Relations
Phone: +7 (495) 777-08-65 (ext. 5196)

Investor Contacts:

Ilya Popov
Investor Relations
Phone: +7 (495) 745-77-45 (ext. 5252)

Background Information

Acron Group is a leading vertically integrated mineral fertiliser producer in Russia and globally, with chemical production facilities in Veliky Novgorod (Acron) and the Smolensk region (Dorogobuzh). The Group owns and operates a phosphate mine in Murmansk region (North-Western Phosphorous Company, NWPC) and is implementing a potash development project in Perm Krai (Verkhnekamsk Potash Company, VPC). It has a wholly owned transportation and logistics infrastructure, including three Baltic seaport terminals and distribution networks in Russia and China. Acron’s subsidiary, North Atlantic Potash Inc. (NAP), holds mining leases and an exploration permit for ten parcels of the potassium salt deposit at Prairie Evaporite, Saskatchewan, Canada. Acron also holds a minority stake (19.8%) in Polish Grupa Azoty S.A., one of the largest chemical producers in Europe.

In 2019, the Group sold 7.6 million tonnes of main products to 78 countries, with Russia, Brazil, Europe and the United States as key markets.

In 2019, the Group posted consolidated IFRS revenue of RUB 114,835 million (USD 1,774 million) and net profit of RUB 24,786 million (USD 383 million). Acron’s shares are on the Level 1 quotation list of the Moscow Exchange and its global depositary receipts are traded at the London Stock Exchange (ticker AKRN). Acron employs around 11,000 people.

For more information about Acron Group, please visit

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