MOSCOW, May 27, 2016 /PRNewswire/ --
PhosAgro (Moscow Exchange, LSE: PHOR), one of the world's leading vertically integrated phosphate-based fertilizer producers, announces that Forbes has included the Company in the Global 2000 list of the world's top companies for 2016.
The Forbes Global 2000 is a comprehensive list of the world's largest, most powerful public companies, as measured by revenues, profits, assets and market value. More information about the Forbes Global 2000 is available online: http://www.forbes.com/global2000/.
PhosAgro CEO Andrey Guryev said: "Inclusion in the Forbes Global 2000 for 2016 is yet another recognition of the hard work that everyone at the Company has contributed to making PhosAgro an industry leader with global recognition. Earlier this month MSCI announced it would include the Company's Global Depositary Receipts in the MSCI Russia index from 1 June 2016, confirming the successful efforts we have made to build value for our shareholders since our IPO.
"We have improved operating efficiency and expanded production capacity, making us one of the largest and lowest cash-cost producers of phosphate-based fertilizers in the world. In 2015 alone we managed to increase production capacity by 10.4%, while per capita productivity in our downstream operations grew by 33% as a result of modernisations and optimisation of business processes.
"All of this has been achieved while paying out generous dividends to our shareholders, implementing large-scale social and environmental programmes in the regions where we operate, and maintaining an investment-grade credit rating from Standard & Poor's.
"We are not content to sit on our laurels, however, and are already looking at the long term, sustainable development of PhosAgro. This includes by expanding our capacity and selection of high-quality fertilizer grades, moving closer to customers in key markets in order to better understand their needs, and continuing to focus on supporting farmers and agricultural industry development in our top-priority domestic market of Russia."
About PhosAgro
PhosAgro is one of the leading global vertically integrated phosphate-based fertilizer producers. The Company focuses on the production of phosphate-based fertilizers, feed phosphate and high-grade phosphate rock (P2O5 content of not less than 39%), as well as ammonia and nitrogen-based fertilizers.
The Company is the largest phosphate-based fertilizer producer in Europe, the largest producer of high-grade phosphate rock worldwide and the third largest MAP/DAP producer in the world (excluding China), according to Fertecon. PhosAgro is also one of the leading producers of feed phosphates (MCP) in Europe, and the only producer in Russia.
PhosAgro has 2.1 billion tonnes of resources (according to JORC) of high quality apatite-nepheline ore. The Company's mines and phosphate rock production facilities are located in the mountainous areas of the Kola Peninsula in the Murmansk region of northwest Russia, whereas its fertilizer and feed phosphate production assets are located near the city of Cherepovets in the Vologda region and near the city of Balakovo in the Saratov region of southwest part of European Russia.
PhosAgro's 2015 IFRS revenue was over USD 3.1 bln and EBITDA was USD 1.4 bln.
For further information on PhosAgro please visit: http://www.PhosAgro.com
