Nizhnekamskneftekhim Group's Revenue for 9 months of 2012 continued its growth.
1. Operating results for 9 months of 2012 versus similar period of 2011:
- Rubber output increased by 6.1% to 437 thousand tons;
- Production of plastics increased by 2.1% to 455 thousand tons.
2. Financial results for 9 months of 2012 versus similar period of 2011:
- Sales revenue increased by 6.3% to RUR 99,643 million (by RUR 5,883 million);
- Gross profit increased by 8.3% to RUR 27,861 million (by RUR 2,125 million);
- EBITDA decreased by 4.1% to RUR 18,403 million (by RUR 785 million);
- Net profit decreased by 5.0% to RUR 12,333 million (by RUR 649 million).
9 month operating results 2012.
For 9 months of 2012 as compared to the similar period of 2011:
- finished product output increased by 3.6 % up to 1,674 thousand tons;
- rubber output increased by 6.1 % up to 437 thousand tons;
- production of plastics increased by 2.1% up to 455 thousand tons.
Data on commercial product output are shown in Table 1.
|
Product (thousand tons) |
9 months of 2012 |
9 months of 2011 |
Change in % |
|
Rubber including: |
436.7 |
411.7 |
+6.1% |
|
- butyl/halobutyl |
119.4 |
104.6 |
+14.2% |
|
- polybutadiene |
125.7 |
122.1 |
+2.9% |
|
- polyisoprene |
189.6 |
184.2 |
+2.9% |
|
Plastics including: |
454.9 |
445.5 |
+2.1% |
|
- polyethylene |
153.5 |
146.7 |
+4.6% |
|
- polypropylene |
158.8 |
159.0 |
-0.1% |
|
- polystyrene |
142.6 |
139.8 |
+2.0% |
|
Other petrochemicals |
782.5 |
759.1 |
+3.1% |
|
Total commercial products |
1,674.2 |
1,616.4 |
+3.6% |
3. Financial results for 9 months of 2012.
For 9 months of 2012 sales revenue increased by 6.3% compared to the same period of 2011 and reached RUR 99,643 million. The increase is due to:
- implementation of the development programs of revamping and expansion;
- growth of production of polymer products through increase of in-house processing of monomers and semi-finished products
- optimum utilization of production capacities.
Sales proceeds by segments are shown in Table 2.
|
Proceeds by segments (RUR mln) |
9 months of 2012 |
9 months of 2011 |
Change in % |
|
Sales of rubber |
47,525 |
44,475 |
+6.85% |
|
Sales of plastics |
24,868 |
22,183 |
+12.10% |
|
Sales of other products |
27,250 |
27,102 |
+0.55% |
|
Total |
99,643 |
93,760 |
+6.27% |
9-month EBITDA of 2012 decreased by 5.9% as compared to similar period of 2011 and reached
RUR 18,403 million.
For 9 months of 2012 net profit decreased by 5.0% as compared to similar period of 2011 and reached RUR 12,333 million.
Decrease in EBITDA and net profit was caused by weakening pricing environment related to some rubber grades in 3Q 2012 as well as rising of utility tariff rates starting from July 1st, 2012.
EBITDA margin for 9 months of 2012 is 18.5%, net profit margin is 12.4%.
Company leverage continues to decrease. Total debt for 9 months of 2012 decreased by 21.3% and amounted to RUR 8,751 million. Net debt for the same period decreased by 67.3% and amounted to RUR 1,524 million, indebtness ratio (net debt/equity) decreased from 9% to 3%.
4. Development prospects of the Company in 2012.
In 2012 the Company started-up 60 ktpa ABS-plastics production plant, and completed a number of projects for expansion of rubber production (butyl/halobutyl, polybutadiene, polyisoprene etc), and also anticipates to start-up 50 ktpa polystyrene production plant in 2013.
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