UPDATE 1-Acron 2009 net profit down 27 pct, sees mkt rebound

* Net income down 27 percent to 7.26 bln roubles

* Revenues down 13 percent to 37.54 billion roubles

* EBITDA margin down to 19 percent from 40 percent in 2008

* Net debt down 1 percent to 24.73 billion roubles

(Adds quotes, details, background)

MOSCOW, April 29 (BestGrowthStock) – Russian fertiliser producer
Acron (AKRN.MM: ) posted a 27 percent fall in 2009 net profit as
falling global prices hit revenues and margins shrank, but said
a “vigorous” market rebound should help performance this year.

Net profit fell to 7.26 billion roubles ($248 million),
Acron said in a statement on Wednesday. The result would have
been lower still were not it for the sale of a 21 percent stake
in gas firm Sibneftegaz, deemed a non-core asset.

Revenues fell 13 percent to 37.54 billion roubles,
reflecting a slump in fertiliser prices which was only partly
offset by an increase in sales and a 28 percent depreciation of
the rouble against the dollar (RUB=: ).

The earnings before interest, tax, depreciation and
amortisation (EBITDA) margin halved to 19 percent due to “both
lower profitability at the Russian facilities and Hongri Acron’s
significant loss … due to impairment of raw material
inventories, as well as the fertiliser price decline in China.”

However Acron was broadly upbeat on prospects for 2010, in
line with general expectations for an economic recovery.

“The global mineral fertiliser market has been vigorously
rebounding, which has had a positive impact on the company’s
financials,” Alexander Popov, Chair of Board of Directors, said.

“This supports our expectation that generated cash flow will
be sufficient to implement the investment programme and meet our
creditor and shareholder obligations.”

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($1=29.31 ROUBLE)
(Reporting by Vladimir Soldatkin; Editing by Toni Vorobyova and
Hans Peters)

UPDATE 1-Acron 2009 net profit down 27 pct, sees mkt rebound