Buenos Aires, September 20th. Last week, the urea and ammonia manufacturer Profertil released its Annual report on sustainability, where the company remarks the fact that during 2017 it reached a record of fertilizers sales. According to the report, it was sold 1.20 million metric tons of urea and 0.22 MMT of other fertilizers and ammonia. The report also remarks the dramatic increase in the production and sales, since in 2015 the company had sold only 1 MMT of fertilizers, 40% less than the last year.
Also, in 2017 Profertil, a company owned 50/50 by YPF and Nutrien (the merger of Agrium and Potash Co.), reached the second largest production in his history, with 1.27 MMT of urea and 0.77 MMT of ammonia, versus 0.84 and 0.54 MMT respectively in 2015, i.e. an increment of 48 percent.
It must remember that Profertil completed an investment to expand its annual urea production by approximately 70,000 tonnes, with no additional gas required; the Profertil nitrogen facility now has a total annual capacity of 1.34 million tonnes of urea and approximately 30,000 tonnes of merchant ammonia.
The local report stressed that in 2017 sales of products manufactured by Profertil reached AR$6,024 million, 96% of them targeted to the local demand, and the other 4% to export markets. This show a strong Argentine demand since in 2015 local sales represented only 84%. Total incomes (including import products) in 2017 reached AR$7,893 million versus AR$4,088 million in 2015.
According to the Agrium 2017 Annual Report, Profertil sales reached 432 million dollars in 2017 versus $392 million in 2016 and $394 million in 2015. But the better economic condition for farmers in the country and a better business environment did that the company passed from a $10 million loss in 2015 to $51 million net earnings in 2016 and $26 million net earnings in 2017.
As the largest nitrogen fertilizers supplier of the country, Profertil counts with the Bahia Blanca nitrogen production facility and port, a port and storage warehouse in Puerto Gral. San Martin, on the Parana River, and an import terminal in San Nicolas, also along the Paraná River but in the Buenos Aires Province.