OJSC PhosAgro (PHOR)
PhosAgro AGM Approves Dividends
24-May-2019 / 16:07 CET/CEST
Dissemination of a Regulatory Announcement that contains inside information
according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group.
The issuer / publisher is solely responsible for the content of this
announcement.
For Immediate Release 24 May 2019
PhosAgro AGM Approves Dividends
Moscow - The Annual General Meeting of shareholders (AGM) of PhosAgro ("the
Company") (Moscow Exchange, LSE: PHOR) has approved a final dividend payment
for 2018 of RUB 6.6 billion, which represents RUB 51 per ordinary share (RUB
17 per GDR) from undistributed net profit for 2018. The dividend record date
was set as 10 June 2019.
The AGM also approved the annual report for 2018, which presented growth in
fertilizer and feed phosphate production by 7.6% year-on-year to 9 million
tonnes, and phosphate rock production that exceeded 10 million tonnes, a
record for the industry.
Solid operating performance enabled the Company to achieve strong financial
results, including a record level of free cash flow amounting to RUB 21
billion, an industry-leading EBITDA margin of 32%, and a 97% year-on-year
increase in adjusted net profit.
PhosAgro CEO Andrey Guryev said: "Major investments under the Company's
Strategy to 2020, which was completed ahead of schedule last year due to
high professionalism and well-coordinated teamwork, have enabled us to
achieve consistent growth in operating and financial performance over the
course of the year.
"This solid foundation has enabled us to make stable dividend payments, as
well as to finance new investments and social programmes, guaranteeing
significant capacity for further growth that is built into PhosAgro's new
Strategy to 2025."
The Strategy to 2025, approved in March 2019, aims to further strengthen
PhosAgro's position as a producer of pure phosphate-based fertilizers while
also benefiting from one of the lowest cash costs of production in the
industry. It also preserves the Company's commitment to sustainable
development principles, including its implementation of environmental
protection measures on which it spent approximately RUB 8 billion in 2018,
and ensures the long-term sustainability of the Company's operations.
The AGM elected new members of PhosAgro's Board of Directors and Revision
Commission, approved the annual financial statements for 2018, distribution
of the Company's profit for 2018 and interested-party transactions.
Shareholders also approved payment of remuneration and compensation to
members of the Board of Directors. PhosAgro's auditor for 2019 was confirmed
as LLC FBK.
For further information please contact:
PhosAgro
Alexander Seleznev, Head of Investor Relations Department
+7 495 232 9689 ext 2187
ir@phosagro.ru
Timur Belov, Press Officer
+7 495 232 9689
EM
Sam VanDerlip
vanderlip@em-comms.com
+44 7554 993 032
+7 499 918 3134
Dmitriy Zhadan
zhadan@em-comms.com
+7 495 363 2849
+7 916 770 89 09
About the Company
PhosAgro is one of the world's leading vertically integrated phosphate-based
fertilizer producers in terms of production volumes of phosphate-based
fertilizers and high-grade phosphate rock with a P2O5 content of 39% and
higher.
The Company is the largest phosphate-based fertilizer producer in Europe (by
total combined capacity for DAP/MAP/NP/NPK/NPS), the largest producer of
high-grade phosphate rock with a P2O5 content of 39%, a top-three producer
of MAP/DAP globally, one of the leading producers of feed phosphates (MCP)
in Europe, and the only producer in Russia, and Russia's only producer of
nepheline concentrate (according to the RAFP).
PhosAgro's main products include phosphate rock, 39 grades of fertilizers,
feed phosphates, ammonia, and sodium tripolyphosphate, which are used by
customers in 100 countries spanning all of the world's inhabited continents.
The Company's priority markets outside of Russia and the CIS are Latin
America, Europe and Asia.
PhosAgro's shares are traded on the Moscow Exchange, and Global Depositary
Receipts (GDRs) for shares trade on the London Stock Exchange (under the
ticker PHOR). Since 1 June 2016, the Company's GDRs have been included in
the MSCI Russia and MSCI Emerging Markets indexes.
More information about PhosAgro can be found on the website: www.phosagro.ru
[1].
ISIN: US71922G2093
Category Code: AGM
TIDM: PHOR
LEI Code: 635400F8A3KGJIIBIK95
OAM Categories: 2.2. Inside information
Sequence No.: 8802
EQS News ID: 815753
End of Announcement EQS News Service
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(END) Dow Jones Newswires
May 24, 2019 10:07 ET (14:07 GMT)
