Larger output volumes contributed to revenue increase. Last year, Achema generated a surplus of LTL 69 million (EUR 20 million). (of almost 4%) compared against LTL 1.832 billion (EUR 531 million) in 2013. The 2013, turnover stood at LTL 1.763 billion (EUR 511 million).
"Despite the fact that the year was completed with better results and steady operations, the output growth might have been even more remarkable had it not been for the tensions prevailing on the global fertiliser market. The year 2014 was characterised by lower global prices for urea-ammonium nitrate solution (UAN) and urea compared with 2013 as well as a rather difficult start of the year brought about by unfavourable situation in agriculture," said General Director of Achema Ramunas Miliauskas.
In 2014 Achema invested over LTL 130 million (EUR 37.7 million) into modernisation of manufacturing infrastructure. The company implemented major long-term investment projects which will remain equally important also in 2015.
According to General Director Miliauskas, 2015 will be better than 2014. It is expected that the estimated fertiliser sale prices will remain at their 2014 level, while production costs shall be minimised by gas discounts currently negotiated with Gazprom. It is believed that the base price for gas will drop thus reflecting decreasing oil prices, the concern reports.
Growth in revenues in the first half of the year will be stimulated by an increasing seasonal demand for fertilisers and the shortage of fertilisers on European markets resulting from events in Ukraine and disruptions in production due to insufficient gas supplies in Trinidad and Egypt.
The situation in the second half of the year will depend on a broader economic outlook and agricultural prices which will, in turn, be determined by the harvest of the coming season as well as by actions of Chinese nitric fertiliser exporters.
The predicted turnover of 2015 is EUR 512 million. Planned corporate investments are expected to amount to roughly EUR 23 million.
