MOSCOW, December 6, 2017 /PRNewswire/ --
PhosAgro took first place in a Vedomosti newspaper ranking of
companies with the fastest pace of growth in labour productivity
over the last five years.
The study on labour productivity (measured by revenue per
employee) covered Russia's 55
largest companies by revenue, looking at their consolidated IFRS
financial statements. It ranked the companies based on how revenue
per employee changed over the course of five years, and how this
output and the total number of employees affected staff costs.
According to Vedomosti's calculations, between 2012 and 2016,
PhosAgro's average annual output (revenue per employee per year)
grew at an average rate of 27% per year.
PhosAgro CEO Andrey Guryev said:
"We managed to achieve a high level of productivity due to a
comprehensive programme designed to increase efficiency and
optimise business processes. We have merged our main production
assets into a single legal entity, resulting in the centralisation
of a number of administrative functions and the elimination of
duplicate positions. The Company has also carried out a
modernisation programme that makes use of the best available
technologies. Accordingly, equipment operation hours have increased
and downtime declined, contributing to growth in annual production
output of around 10%. We also introduced a new system to
incentivise employees, which led to an increase in their work
productivity."
PhosAgro (www.phosagro.ru) is one of the world's leading
vertically integrated phosphate-based fertilizer producers in terms
of production volumes of phosphate-based fertilizers and high-grade
phosphate rock with a P2O5 content of not
less than 39% (according to IFA, Fertecon and CRU).
The Company is the largest phosphate-based fertilizer producer
in Europe, the largest producer of
high-grade phosphate rock (with a P2O5
content of not less than 37%) worldwide and the third largest
MAP/DAP producer in the world, according to IFA. PhosAgro is also
one of the leading producers of feed phosphates (MCP) in
Europe, and the only producer in
Russia. PhosAgro is Russia's only producer of nepheline
concentrate.
PhosAgro's main products include phosphate rock, over 35 grades
of fertilizers, feed phosphates, ammonia, and sodium
tripolyphosphate, which are used by customers in 100 countries
spanning all of the world's inhabited continents. The Company's
priority markets outside of Russia
and the CIS are Latin America,
Europe and Asia.
PhosAgro's shares are traded on the Moscow Exchange, and global
depositary receipts ("GDRs") for shares trade on the London Stock
Exchange (under the ticker PHOR). Since 1
June 2016, the Company's GDRs have been included in the MSCI
Russia and MSCI Emerging Markets indexes.
SOURCE PhosAgro