Achema company’s income grew last year, but profit decreased

The revenue of Achema AB, the largest producer of nitrogen fertilizers and other chemical products in the Baltic States, increased by 59 percent in 2022. and amounted to 937.2 million EUR (in 2021 – EUR 590.3 million).

Last year, after a drastic increase in the prices of energy resources and raw materials, as the price of natural gas jumped more than 3 times, the price of sold products also rose – this led to higher income, but at the same time reduced demand: the company’s production sales volume decreased by 37 percent. and amounted to 1.4 million tons (2.22 million tons in 2021).

According to Achemas CEO Ramūnas Miliauskas, 2022 was the most difficult year for the company in the last 15 years, that is, since 2008. global financial crisis.

“The war in Ukraine and the applied sanctions destabilized the usual supply chains of energy resources and raw materials, so the company had to react promptly to the changing circumstances. As natural gas prices rose to unprecedented heights, the company ended the financial year with minimal production. The company’s profit before taxes in 2022 decreased by 34 percent. and amounted to 38.8 million euros, while in 2021 it amounted to 58.5 million euros”, said the company manager R. Miliauskas.

Last year, the company exported its products to more than 40 countries, France, Great Britain, Germany, Central European and Scandinavian countries remained the main export destinations.

in 2022 the company invested almost 14.5 million euros for production modernization. The company continued to invest in energy resources and environmental impact reduction projects, and developed the modernization of the energy system. These investment directions continue to be developed this year as well.

The company’s investments are aimed at the transformation of production in a green direction, which will allow the use of less fossil fuel in production and the gradual transition to more sustainable products.

UAB concern “ACHEMOS GRUPĖ” info.