Acron Group reported a 45% decline in third-quarter net profit, to RUB6.56 billion (approximately $73.8 million at current exchange rates), down from the year-ago RUB11.82 billion, according to Bloomberg. Third-quarter revenue fell 15% year-over-year, to RUB42.58 billion.
Acron’s net profit for the nine months to Sept. 30 was down 70% year-over-year, to RUB25.64 billion ($310 million) from RUB86.32 billion ($1.22 billion), according to the company’s Nov. 28 IFRS statements. Nine-month EBITDA was down 51% year-over-year, to RUB51.78 billion ($626 million) from RUB105.76 billion ($1.5 billion), while revenue for the period fell 34%, to RUB130.5 billion ($1.58 billion) from last year’s RUB197.5 billion ($2.8 billion).
Acron’s total commercial output of fertilizers, apatite concentrate, and industrial products for the nine-month period increased 1.2% year-over-year, to 6.271 million mt from 6.198 million mt, though total commercial sales were down 1%, to 6.34 million mt.