PhosAgro reported net profit of $893 million on revenue of $2.8 billion for the year ending Dec. 31, 2016, up from 2015’s $589 million and $3.1 billion, respectively. However, EBITDA was off at $1.08 billion from $1.35 billion.
Phosphate-based products saw a 10 percent increase in sales volumes to 5.92 million mt, up from 5.4 million mt, while Nitrogen was up 2 percent to 1.4 million mt from 1.36 million mt.
OCI NV reported net income from continuing operations attributable to shareholders of $167.9 million on revenue of $1.91 billion for the year ending Dec. 31, 2016, up from a prior year loss of $246.1 million on revenues of $2.19 billion. However, adjusted EBITDA was down at $466.5 million from the prior year’s $736.2 million.
Total fertilizer volumes sold from the company’s own production was up 18.4 percent to 4.81 million mt from 2015’s 4.07 million mt. Traded tons were off 1.9 percent to 2.03 million mt from 2.07 million mt.
The company said its Iowa Fertilizer Co. nitrogen plant in Iowa is in the final stages of start-up with the first product expected imminently.
