Key highlights

PhosAgro Group stays true to the priorities set out in its long‑term development strategy. With an ongoing focus on production expansion and substantial capital investments, the Company continues to deliver consistent production efficiency improvements and strong financial results, while maintaining an unwavering commitment to sustainability. We believe that a successful and efficient business should contribute positively to society and make continuous efforts to reduce its environmental footprint. At all levels of the Company’s management, from the Board of Directors onwards, we maintain a steadfast focus on sustainable development and social responsibility.

Financial highlights

Revenue, RUB bln

Adjusted EBITDA, RUB bln

The 13% increase in revenue relative to 2024 was driven by higher production and sales of phosphate‑based fertilizers (primarily NPK and urea) amid recovery in average global sales prices from early 2025.

Adjusted EBITDA, excluding the impact of exchange rate changes, amounted to RUB 199.4 bln, exceeding the 2024 figure by 16.9%.

For more information see the Financial performance

For more information see the Operational performance

Operational highlights

Phosphate-based fertilizers production, kt

Nitrogen-based fertilizers production, kt

Sales of phosphate-based and nitrogen-based fertilizers, kt

The main drivers of year‑on‑year growth were phosphate‑based fertilizers (DAP – up 31.3%, NPK – up 15.6%, MCP – up 19.8%) and key inputs (phosphoric acid – up 3.9% and sulphuric acid – up 3.1%).

Sales of phosphate‑based fertilizers amounted to 9.4 mt, up 3.4% y‑o‑y, driven by higher sales of agrochemical products in Asian and African markets.

In the nitrogen segment, sales in 2025 increased by 4.8% y‑o‑y, mainly due to higher shipments to Asian and Latin American markets.

Sustainable development highlights

GHG emissions (Scope 1), kg of СО₂‑eq. per tonne of finished and semi‑finished products

Water withdrawal, m³ per tonne of products and semi‑finished products

Fatalities as a result of work‑related injuries (own staff), per 1 mln of hours worked

Pollutant emissions, kg per tonne of finished and semi‑finished products

Share of recycled and decontaminated hazard class 1–4waste, %

Average annual training hours per employee

Discharge of waste water into surface water bodies, m³ per tonne of products and semi‑finished products

LTIFR, per 1 mln hours worked

Employee satisfaction and loyalty, p.p.

PhosAgro Group continued to progress towards achieving its goals in climate action, energy efficiency, waste management, and water management. The emissions reduction and waste recycling and decontamination targets outlined in our Strategy to 2025 were successfully achieved ahead of schedule as early as 2023.

We were deeply saddened by the fatality involving our employee which occurred at the production site of Apatit’s Balakovo branch in February 2025. The fatality was due to ammonia fume exposure.

Nevertheless, a considerable decrease in the number of major accidents (two cases in 2025 versus eight in 2024) and the overall workplace injury rate in 2025 witnesses that the efforts invested in safety yield positive results.

Employee satisfaction and loyalty within PhosAgro Group have been consistently improving each year, thanks to a well‑thought‑out human resources strategy, extensive social programmes, and an active communication policy. Over the past three years, the average monthly pay across the Group’s facilities rose by 38%, with salaries of all employees raised by 10% in 2025.