Russia’s Acron Group on March 29 reported a 61% fall in net profit for the year ended Dec. 31, 2023, to RUB35.87 billion ($421 million) from RUB91.03 billion ($1.33 billion) the previous year, according to its IFRS financial statements.
Full-year EBITDA was down 50% year-over-year, to RUB68.74 billion ($806 million) from RUB136.3 billion ($1.989 billion). Revenue fell 30%, to RUB179.46 billion ($2.11 billion) versus the prior year’s RUB257.2 billion ($3.75 billion).
Acron’s production of key products in 2023 grew marginally (0.5%) compared with the previous year, to 8.38 million mt, while sales volumes of key products fell 3% year-over-year, to 8.31 million mt.