eurochem-annual-report-2011

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Enabling our future ...by becoming a top five player The development of our potash deposits are a top priority and key value driver for us. “ 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 Once potash is on stream, EuroChem will be one of only four fertilizer producers in the world with a significant presence in all three primary nutrient segments – potash (K), phosphate (P) and nitrogen (N) – and a top five fertilizer producer globally by total nutrient capacity. Our ambitious strategic investment programme is complemented by targeted efficiency investments at current production sites and our ability to capture value building M&A opportunities. 30 EuroChem Annual Report and Accounts 2011 Read more www.eurochem.ru > 8.0 MMT p.a. (4.8 MMT K 2O) Planned potash capacity once both phases of the Gremyachinskoe and Verkhnekamskoe deposits are completed. Top five potash producers by nutrient capacity (K O, MMT p.a., 2011) 2 PotashCorp 8.0 Uralkali 6.9 Mosaic 6.2 Belaruskali 5.5 K+S 4.3 EuroChem is bringing 4.8 MMT p.a. of K 2 O capacity on stream.
Our commitment We have committed USD 6bn to the development of our potash business. As of end-2011, we had made investments of USD 930m and USD 314m at our Gremyachinskoe and Verkhnekamskoe potash deposits respectively. The remainder will span 2012-2021, with over 50% to be invested in the next three years. Since 2000, global fertilizer consumption has increased 29% to 177 MMT of N, P O , and K O nutrient. 2 5 2 +32% increase in global potash fertilizer application since 2000 +30% increase in global nitrogen fertilizer application since 2000 +24% increase in global phosphate fertilizer application since 2000 8 MMT p.a. of capacity coming on stream USD 6bn committed to potash Annual Report and Accounts 2011 EuroChem 31 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 and 28: 7billion World population in 2011 9
Page 29 and 30: Severneft-Urengoy Novy Urengoy, Yam
Page 31: Environmental footprint -16% decrea
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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