MOSCOW, April 28 (RIA Novosti) - EuroChem, Russia's largest mineral and chemical company said Friday its consolidated net profit, calculated to International Financial Reporting Standards (IFRS), declined 22.1%, year-on-year, in 2006 to $257 million.
EuroChem, one of the top 10 global fertilizer producers, attributed its lower profit in 2006 to the growth of natural gas and electricity rates, higher fuel prices and larger expenditures.
EuroChem, which integrates enterprises for raw materials extraction and the production of fertilizers, organics, feed phosphates, as well as transport divisions and a broad marketing network in Russia and abroad, said its sales grew 3.9% to $1.96 billion while earnings before interest taxes, depreciation and amortization (EBITDA) declined 12.9% to $505 million.
