PhosAgro (PHOJY), a phosphate-based fertilizer producer, reported strong production results for Q4 2019. The company shows spectacular resilience amid low fertilizer prices, being able to increase production while competitors are forced to reduce it because of unfavorable market conditions. Thus, I continue to consider PhosAgro as one of the top picks in the Russian stock market and the fertilizer sector.
Q4 Operational Results Highlights
Fertilizer production in Q4 2019 increased by 2.8% year-over-year to 2,358 thousand tonnes. Fertilizer and feed phosphate production in 2019 increased by 6.1% year-on-year to a record-high 9,521 thousand tonnes.
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