JSC Metafrax Board of Directors summarized work undertaken within 9 months of 2014

On October 27, JSC Metafrax finalized the results of the company activity for January - September 2014.

For this period JSC Metafrax manufactured the market products to the amount of 9 360 mln.RUB. - that is 261 mln.RUB or 3% more than the corresponding figures of last year.

The sales revenue was 9 388 mln.RUB, 326 mln.RUB or 4% more than the corresponding figure of 2013.

The share of exports in sales was 38,3 % (-2,9% compared to 2013 г.) The wage supplements of the company reached 117 mln.RUB.

The methanol yield in January - September of the current year was 695 KT that is 61 KT less than the corresponding figure of last year. The decrease is connected to the shutdown and the first stage of the reconstruction aiming at 10% capacity increase.

There were 261 KT of formalin produced (increase by 12,5%), 147 KT of UFC (+6,6%), 17 KT of pentaerythritol (+1%).

According to preliminary data, the net profit for January-September was 2 658 mln.RUB and this exceeds the corresponding figure of last year by 174 mln. RUB or 7%.

- Under the current uncertainty of foreign economic conditions, increase in the rate of foreign currencies we see stability in the enterprise activity in accordance with the budget figures. Financial and economic projections till the end of the year anticipate moderate growth of figures against 2013,- commented Armen Garslyan, Board Chairman.

At the special meeting held on October 24, the shareholders of JSC Metafrax confirmed the payment of interim dividends for 6 months of 2014 in the amount of 3 Rubles for an ordinary equity share with the nominal value 1 Rub.

In total, 978,4 mln.RUB were paid as interim dividends for 6 month period of 2014.