EuroChem’s net profit in 2023 decreased by 37% – Kommersant

EuroChem's net profit in 2023 decreased by 37% - Kommersant

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EuroChem’s net profit according to IFRS in 2023 amounted to 111.9 billion rubles. versus RUB 176 billion in 2022. Thus, the company’s profit decreased by 37% over the year. The company’s revenue decreased by 8% – 363.3 billion rubles. Cost increased by 10%, to 200.6 billion rubles, follows from data in reporting companies.

EuroChem’s total debt at the end of 2023 amounted to 456.3 billion rubles, net debt – 440 billion rubles. The company’s pre-tax profit fell by 40% (RUB 120.9 billion compared to RUB 203 billion in 2022). The company’s gross profit amounted to 162.6 billion rubles, which is 24% less than the gross profit in 2022 – 213.9 billion rubles.

According to the Bloomberg Billionaires Index, the fortune of the co-founder of Eurochem and SUE Andrey Melnichenko for the first three months of 2024 has grown by $5.29 billion, to $24.1 billion. Mr. Melnichenko’s fortune has grown more than that of other Russian businessmen.

What the CEO of Eurochem said about the company’s plans – in an interview “I would really like the sanctions frenzy to begin to subside”.

Evgeny Belousov

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