“Metafrax” increases budget targets
The company summarized the results of the 1st half 2017
During the 1st half 2017, PJSC “Metafrax” produced the products with the overall cost of 9 billion 663 million rubles, that is 642 million rubles, or 7%, more than in the last year.
The finished production realization benefit has reached 9 billion 562 million rubles, that is more than in the last year by 702 million rubles or by 8%. The export share in the turnover was 42.0% against 32.1% according to the 1st half 2016 results.
The company’s social package was 80.3 million rubles.
In the 1st half 2017, the actual methanol production volume remained at the last year level, making 560 thousand ton. The UFC production was 89 thousand ton. The pentaerythritol production volume was 667 thousand ton, exceeding 12 thousand ton. The micronized pentaerythritol output was 531 ton (+50 ton or +10% by the 1st half 2016). The urotropin production made 28.5 thousand ton (+ 1.1 thousand ton, or +4%). The micronized urotropin output made 371 ton. (+214 ton or 136%). The packaged polyamide production made 410 ton (+43 ton, +12 by 2016). maintaining the last year level.
In the 1st half 2017, the investment volume made 2 billion 664 million rubles (+1 billion 32 million rubles or +102% to the 2016 level. The company updated its railway park (new railway cisterns were purchased for the ethanol transportation)
The net profit gained by the company in the 1st half 2017 made 3 billion 604 million rubles that is more than 2016 value by 1599 billion rubles, or by 80%.
Vladimir Daut, PJSC “Metafrax” General Director:
-Due to the product deficit in China in the 1st quarter, the good price environment on export methanol and profitable currency difference occurred. The company successfully finished the methanol production plan and budget targets.
In upcoming months, the market situation will remain extremely competitive. For compliance with sales obligations, we are going to optimize the revamping period of methanol unit.
Speaking about investment plans, a new unit of natural gas partial oxidation on methanol production is supposed to be put into operation in October.