January 28, 2013 17:10
Nizhnekamskneftekhim sees IFRS net profits fall 5% in 9M (Part 2)
MOSCOW. Jan 28 (Interfax) - Nizhnekamskneftekhim (RTS: NKNC) made 12.333 billion rubles in net profits to International Financial Reporting Standards (IFRS) in January-September 2012, 5% less year-on-year, the company reported.
Earnings before taxes, depreciation and amortization (EBITDA) decreased 4.1% year-on-year to 18.4 billion rubles due to a weakened pricing environment for several types of rubbers in Q3 2012, as well as due to increased energy tariffs on July 1. The EBITDA margin was 18.5% for the nine months, and the net profit margin was 12.4%.
Revenue, meanwhile, rose 6.3% to 99.643 billion rubles thanks to the fulfillment of Nizhnekamskneftekhim's program to modernize and expand capacities, growth in polymer products output thanks to a rise in domestic monomer and intermediates processing and optimal capacity utilization, the press release said.
In the rubbers segment, revenue was up 6.8% to 47.525 billion rubles, and in the plastics segment it jumped 12.1% to 24.868 billion rubles.
Gross profits increased 8.2% to 27.861 billion rubles, pretax profits were down 2% at 15.865 billion rubles, and cost of goods sold were up 5.5% at 71.782 billion rubles.
Long-term debts amounted to 8.291 billion rubles on September 30, down 16.5% from the start of the year. Short-term debts were almost flat at 11.56 billion rubles. Altogether, borrowings for January-September 2012 dropped 21.3% to 8.751 billion rubles. Net debt for the nine-month period plummeted 67.3% to 1.524 billion rubles, and the debt to equity ratio was down from 9% to 3%.
Nizhnekamskneftekhim's output of finished products was up 3.6% to 1.674 million tonnes, including 437,000 tonnes of rubber products (up 6.1%) and 455,000 tonnes of plastic products (up 2.1%).
This year, the company plans to launch a polystyrene production unit with a 50,000-tonne capacity.
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May 25, 2013
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RUSSIA AND FSU GENERAL NEWS
UN Secretary General Ban Ki-moon has given an interview to Interfax ahead of his visit to Russia on May 16-19 in which he speaks about the goals of his visit, pressing tasks that the UN face, the organization‘s reform, as well as topical issues on the international agenda, including situation in Syria and the Middle East settlement.
Deputy NATO Secretary General Alexander Vershbow, who is visiting Moscow for an informal conference of former U.S. ambassadors to Russia and Russian ambassador to the United States, has given an interview to Interfax in which he speaks about NATO-Russia cooperation, as well as pressing issues on the international agenda, such as the missile defense issue, North Korea, Syria and Afghanistan.
British Foreign Secretary William Hague has given an interview to Interfax‘ journalist Olga Golovanova ahead of the 2+2 meeting slated for March 13 in London, on which he speaks about the agenda of the upcoming 2+2 talks, the whole range of British-Russian relations, including human rights, as well as pressing international issues notably Syria.