MOSCOW (MRC) -- Kazanorgsintez PJSC has published consolidated interim financial statements in accordance with International Financial Reporting Standards for the six months of 2021, said the company.
According to the reported data, the profit of the enterprise amounted to Rb14.7 bns, which is 3.6 times higher than the similar indicators of the crisis in the first half of 2020.
Revenue of Kazanorgsintez PJSC for the first half of this year reached 52.7 billion rubles, which is 68% higher than the results for the same period last year. The export volume amounted to 8.4 billion rubles. The domestic market sold products worth 44.3 billion rubles. Compared to the comparable period, the share of exports in the first half of 2021 decreased from 23% to 16%. The enterprise made such a reorientation in the face of reduced supply on the Russian market from foreign polymer producers.
Plastics accounted for Rb46.3 bn in the total revenue of the enterprise. For other petrochemical products - Rb5.2 bn. Sales of other petrochemical products include the sale of bisphenol A, ethylene glycol, monoethanolamine, acetone and other petrochemical products.
Funds allocated for investment activities in the first half of 2021 amounted to Rb13.3 bns. This is 5.6 times higher than investment costs for 6 months of 2020.
Earlier it was reported that the subsidiaries of the Italian engineering company Maire Tecnimont S.p.A. received a contract for the construction of a new Kazanorgsintez plant (KOS, part of TAIF) for the production of high-pressure polyethylene (LDPE) / ethylene vinyl acetate (EVA) at the existing KOS complex in Kazan (Tatarstan, Russia). The capacity of the new enterprise will be 100,000 tonnes of LDPE / EVA per year.
According to MRC's ScanPlast, in June the estimated consumption of LDPE in Russia fell to 45,190 tonnes against 47,780 tonnes a month earlier. Russian manufacturers have increased export sales of polyethylene (PE). In the first six months of the year, the estimated consumption of LDPE in Russia amounted to 280,850 tonnes, which is 2% less than a year earlier. PE output decreased, while export volumes increased.
Kazanorgsintez PJSC is one of the largest enterprises in the Russian Federation (TAIF Group of Companies). It produces 40% of all Russian polyethylene and is its largest exporter. Currently, PE, polycarbonate (PC), polyethylene pipes, phenol, acetone, bisphenol A are produced. KOS is the only Russian PC manufacturer. There are 170 types of products in total. The annual production volume is 1.6 million tonnes. The enterprise is the largest Russian manufacturer of low-pressure polyethylene (HDPE) pipes. The annual production capacity of HDPE is 540,000 tonnes, and LDPE - 225,000 tonnes.