Nizhnekamskneftekhim Group’s Revenue in 2012 reached its all-time peak. The production gain was 2.7% compared to 2011. Maximum outputs were achieved in production of polybutadiene, halobutyl and polyisoprene rubbers, and plastics, polyethers, ethylene and isoprene-monomer.
1. Operating results for 12 months of 2012 versus similar period of 2011:
- Rubber output increased by 5.4% to 589 thousand tons;
- Production of plastics increased by 2.1% to 605 thousand tons.
2. Financial results for 12 months of 2012 versus similar period of 2011:
- Sales revenue increased by 3.5% to RUR 130,487 million (by RUR 4,466 million);
- EBITDA1 decreased by 5.8% to RUR 22,781 million (by RUR 1,406 million);
- Net profit decreased by 3.6% to RUR 15,277 million (by RUR 566 million).
- The Board of Directors suggested payment of dividends in the amount of RUR 5,088 million at the rate of RUR 2.78 per share (RUR 2.36 per share in 2012).
1. Operating results for 12 months of 2012.
For 12 months of 2012 as compared to the similar period of 2011:
finished product output increased by 3.2 % up to 2,249.1 thousand tons;
rubber output increased by 5.4% up to 589 thousand tons;
production of plastics increased by 2.1% up to 605 thousand tons.
Data on commercial product output are shown in Table 1.
|
Table 1 Product (thousand tons)
|
12 months of 2012 |
12 months of 2011 |
Change in % |
|
Rubber including: |
589.3 |
559.3 |
+5.4% |
|
- butyl/halobutyl |
162.6 |
146.0 |
+11.4% |
|
- polybutadiene |
170.3 |
167.1 |
+1.9% |
|
- polyisoprene |
252.7 |
245.3 |
+3.0% |
|
Plastics including: |
605.3 |
592.9 |
+2.1% |
|
- polyethylene |
201.5 |
195.0 |
+3.3% |
|
- polypropylene |
210.0 |
210.8 |
-0.4% |
|
- polystyrene |
191.5 |
187.0 |
+2.4% |
|
Other petrochemicals |
1,054.5 |
1,027.8 |
+2.6% |
|
Total commercial products |
2,249.1 |
2,180.0 |
+3.2% |
2. Financial results for 12 months of 2012.
For 12 months of 2012 sales revenue increased by 3.5% compared to the same period of 2011 and reached RUR 130,487 million. The increase is due to:
- implementation of the development programs of revamping and expansion, and replacement of the low-margin monomers and semi-finished products portfolio suggested to customers with high-margin innovative types of polymer products;
- favorable market behavior.
- optimum utilization of production capacities.
Sales proceeds by segments are shown in Table 2.
|
Table 2 Proceeds by segments (RUR mln)
|
12 months of 2012 |
12 months of 2011 |
Change in % |
|
Sales of rubber |
59,770 |
58,933 |
+1.4% |
|
Sales of plastics |
33,511 |
29,877 |
+2.2% |
|
Sales of other products |
37,206 |
37,211 |
-0.1% |
|
Total |
130,487 |
126,021 |
+3.5% |
12-month EBITDA of 2012 decreased by 5.8% as compared to similar period of 2011 and reached RUR 22,781 million. EBITDA profitability was 17.5%.
For 12 months of 2012 the net profit decreased by 3.6% compared to similar period of 2011 and reached RUR 15,277 million.
Decrease in profitability of EBITDA and net profit was caused by weakening pricing environment for the Company’s products in the second half of 2012.
Company leverage is still insignificant. Total borrowed funds decreased by RUR 5,159 million (RUR 2.944 million in 2011), and is RUR 5,963 million (RUR 11,122 million in 2011).
3. Development prospects of the Company in 2013.
After completion of construction and start-up of 60 ktpa ABS-plastics production plant in 2012, the Company proceeded to development of this promising market. Furthermore, in 2013 the Company plans to complete the investment project for construction of stage four of polystyrene production plant, that provides for expansion of assortment of this plastic, and continue implementation of the investment project for revamping of the alpha olefins plant.
423574, R.F. Republic of Tatarstan, Nizhnekamsk, OAO Nizhnekamskneftekhim
Tel.: +7 ( 8555) 37–78-64
Tel/ fax : +7 ( 8555) 37–74-92
E-mail : inform@nknh.ru
Internet: www nknh.ru
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