eurochem-annual-report-2011

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Enabling our future ...by increasing our geographic footprint With increased production capacity and secure access to raw materials, we are ready to expand our operations and increase our strategic positioning. “ As we proceed with the integration of newly acquired assets and move further down the path to potash, we are now strategically positioned for unparalleled value creation and growth.” Dmitry Strezhnev Chief Executive Officer 26 EuroChem Annual Report and Accounts 2011 EuroChem Antwerpen Antwerp, Belgium Increase in fertilizer trading volumes by almost 50% > 2.3 MMT of NPK, AN, CAN Geographical diversification. > One of the largest fertilizer complexes in Europe to further expand our 3% market share in Europe. Superior logistics and access to premium European customer base > The EuroChem Antwerpen facilities are surrounded by the Scheldt and Scheldt-Rhine Canal and have access to jetties providing infrastructure for fertilizer distribution and raw material procurement via the North Sea and Rhine River. > Superior platform to support EuroChem’s international expansion. Access to technology Read more www.eurochem.ru > > These facilities produce a range of premium NPK grades and benefit from their integration within the BASF Verbund site.
Severneft-Urengoy Novy Urengoy, Yamalo-Nenets Autonomous District, Russia Product Capacity Proven and probable reserves Natural gas 1.1bn m3 p.a. 50bn m3 Gas condensate 220,000 MT p.a. – Oil – 32 MMT Risks Strategic responses Differential in natural gas cost between Russian and European/US producers is decreasing New supply from low gas cost areas may cause unfavourable shift in EuroChem’s position on global cost curve 12 MMT p.a. total fertilizer capacity with EuroChem Antwerpen > Partial back integration into natural gas production > Move closer to end-users to secure competitiveness > Deep modernisation of ammonia production, improving ammonia gas efficiency > Launch production of higher-value added and premium products (LDAN, NPK, AdBlue) Annual Report and Accounts 2011 EuroChem 27 Business review
Page 1 and 2: Enabling our future Annual Report a
Page 3 and 4: ...by supplying world markets Our s
Page 5 and 6: 2011 Operational highlights > Succe
Page 7 and 8: Potash 912 MMT of proven and probab
Page 9 and 10: 16 Estonia Lithuania 7 14 15 Belaru
Page 11 and 12: Raw materials Up to 80% self-suffic
Page 13 and 14: Ten years of performance Ten years
Page 15 and 16: A record RUB 131bn in revenues 66%
Page 17 and 18: 4. Global economy Emerging economie
Page 19 and 20: Ranking by nutrient capacity MMT p.
Page 21 and 22: Despite the significant breakthroug
Page 23 and 24: Business review Our strategy Our st
Page 25 and 26: Enabling our future... ...by supply
Page 27: 7billion World population in 2011 9
Page 31 and 32: Environmental footprint -16% decrea
Page 33 and 34: Our commitment We have committed US
Page 35 and 36: Vertical integration > 2.8 MMT p.a.
Page 37 and 38: Employee participation Our employee
Page 39 and 40: The following table highlights our
Page 41 and 42: Nitrogen segment RUBbn, or as indic
Page 43 and 44: Over the next five years (2012-2016
Page 45 and 46: Phosphate segment RUBbn or as indic
Page 47 and 48: EuroChem’s main planned investmen
Page 49 and 50: i Along with nitrogen and phosphate
Page 51 and 52: Distribution RUBbn, or as indicated
Page 53 and 54: i At Tuapse, one of our priorities
Page 55 and 56: Cost of sales and gross margin As i
Page 57 and 58: 2011 2010 2009 RUBm % of total % ch
Page 59 and 60: Balance sheet Working capital Worki
Page 61 and 62: Environment We’ve come a long way
Page 63 and 64: Occupational health and safety We s
Page 65 and 66: Strategic risks We classify as stra
Page 67 and 68: Area Ref. code Nature Description S
Page 69 and 70: Richard Sheath Audit Committee Chai
Page 71 and 72: Nikolay Pilipenko Audit Committee Q
Page 73 and 74: Where did we focus in 2011? The Boa
Page 75 and 76: The Strategy Committee The Strategy
Page 77 and 78: 1 Andrey Melnichenko (39) Chairman
Page 79 and 80:
Financial information Consolidated
Page 81 and 82:
Financial information Consolidated
Page 83 and 84:
Financial information Notes to the
Page 85 and 86:
2 Basis of presentation and signifi
Page 87 and 88:
2 Basis of presentation and signifi
Page 89 and 90:
3 Critical accounting estimates, an
Page 91 and 92:
4 Adoption of new or revised standa
Page 93 and 94:
6 Segment information continued The
Page 95 and 96:
8 Intangible assets Note Acquired s
Page 97 and 98:
10 Mineral rights continued As of 3
Page 99 and 100:
13 Cash and cash equivalents and fi
Page 101 and 102:
15 Bank borrowings continued Intere
Page 103 and 104:
17 Derivative financial assets and
Page 105 and 106:
22 Distribution costs Distribution
Page 107 and 108:
26 Income tax continued The movemen
Page 109 and 110:
29 Business combinations Acquisitio
Page 111 and 112:
31 Contingencies, commitments and o
Page 113 and 114:
32 Financial and capital risk manag
Page 115 and 116:
Page 117 and 118:
Page 119 and 120:
Financial information Main producti
Page 121 and 122:
Q4 2010 Q3 2010 Q2 2010 Q1 2010 201
Page 123 and 124:
Forward-looking statements This ann
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