News Column

Fertiliser producer Bagfas posts EUR 0.7mn net income in 2013.

February 26, 2014



Fertiliser producer Bagfas Bandirma Gubre announced that its net income decreased by a sharp 92% y/y to TRY 2mn (EUR 0.7mn) in 2013 from TRY 23.9mn in 2012.

The company's revenues in the year also declined by 9.2% y/y to TRY 330mn from TRY 363mn a year ago while its gross margin declined by 46% y/y.

Bagfas had reported a net income of TRY 256,034 (EUR 85,164) in Q3/2013 versus TRY 3.45mn of net income in the third quarter of 2012. Revenues fell to TRY 77.6mn in Q3 from TRY 91.3mn a year ago. 9M net income of Bagfas dropped to TRY 389,309 this year from TRY 21.5mn in 2012. Bagfas sold 271,760 tonnes of fertilisers in domestic market in Q3, down from 296,071 tonnes in the same period of last year. The company's export revenues fell to USD 25.7mn in the third quarter from USD 36mn a year ago.



Bagfas (unconsolidated) Financials



(mn TRY)



2012



2013



 (y/y)



Revenues



363.87



330.37



-9.2%



Gross Margin



57.25



31.08



-45.7%



Operating Income



42.0



22.2



-47.0%



Net Income



23.9



2.0



-91.7%



Source: PDP



 



 



 



 


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Source: IntelliNews - Weekly Reports


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