Neochim Expects 2008 Production Sales to Reach 268 Mln Leva

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Neochim Expects 2008 Production Sales to Reach 268 Mln Leva

Nechim () expects this year's production sales at 267.97 mln leva (137 mln euros), according to the company's report filed with the BSE, x3news reports.

The company expects a 40% hike in production sales, due to increased production of a basic product - ammonium nitrate fertilizer and higher prices (as a result of the natural gas price hike as of 1 January 2008).

2007 revenues stood at 185.3 mln leva (94.7 mln euros), 95.52% of which came from production sales (176.99 mln leva, 90.49 mln euros). Sales revenues are up by some 7.098 mln leva (3.62 mln euros) compared with 2006.

Last year the company's usual export sales- domestic sales ratio changed. While 47% of production was sold on the home market back in 2006, last year that share went up to 56.81%.
2007 non-consolidated profit reached 3.05 mln leva (1.55 mln euros), against 3.58 mln leva for 2006.

Main shareholders are Euro Fert Jsc controlling 49.17% of the capital and Karifert International (Lebanon) which has 16.07%.

The last transaction on BSE involving the company's shares was at 52.30 leva a piece.

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