PJSC PhosAgro posted a 15% decline in adjusted EBITDA for the third quarter, to RUB48.5 billion (approximately $539.4 million at current exchange rates), according to an Interfax report, citing a company statement. PhosAgro’s adjusted net profit for the quarter was down 35% year-over-year, to RUB27.1 billion.
As of Sept. 30, 2023, the Russian fertilizer group’s net debt amounted to RUB227.9 billion ($2.34 billion). The ratio of net debt to adjusted EBITDA increased to 1.3x at the end of the quarter, up from 1.09x at the end of the second quarter, according to the report.