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Kazanorgsintez PJSC summarizes the year of 2019

6 July 2020

Kazanorgsintez PJSC summarizes the year of 2019

The annual General Meeting of Shareholders of Kazanorgsintez PJSC was held in absentia. The shareholders were able to study the materials of the meeting and give their opinion on the agenda items and send the completed voting papers within a statutory period.

The results for 2019 were given in the Company’s annual report.

In 2019, Kazanorgsintez PJSC worked under slowing down market economic activity market conditions such as increasing competition, falling world prices for polymers and increasing prices for energy resources. However, the Company achieved a positive financial result. In 2019, the sales revenues exceeded 72.4 RUB bn. Net profit amounted to 11.6 RUB bn. The price of Kazanorgsintez PJSC increased from 181.7 to 187.1 RUB bn within a year.

In 2019, the volume of commercial products manufactured by Kazanorgsintez PJSC amounted to 1030 thousand tons, which is 40.8 thousand tons more than that manufactured in 2018. The quantity index number for 2019 was 102.7% of the level of 2018. In 2019, commercial products mix remained unchanged if compared with that of the last year. The main share in commercial products is occupied by ethylene polymers and polycarbonates (87% in value terms). In the reporting year, manufacturing charges for commercial products increased by 1.3 RUB bn (or by 2.4%) if compared with the previous year and amounted to 56.1 RUB bn.

Domestic market remains the major commodity market for products manufactured by Kazanorgsintez PJSC. The products sold in the domestic market made 60.5 RUB bn. Exported products made 11.9 RUB bn. In 2019, Kazanorgsintez PJSC exported products to customers from 31 world countries. New markets in 2019 Guatemala, India, South Korea, and Peru appeared as new markets in 2019. Export deliveries were primarily aimed at countries featuring higher level of contract prices.

According to the results of 2019, tax payments of Kazanorgsintez PJSC to budgets of all levels amounted to 8.1 RUB bn including those to the consolidated budget of the Republic of Tatarstan amounting to 4.2 RUB bn.

As usual, Kazanorgsintez PJSC pays great attention to environmental, industrial safety and occupational health issues. The Company does its best to maintain the environmental health and preserve it for the full life of future generations by means of integrated approach to environmental protection Kazanorgsintez PJSC makes every effort to maintain the environmental conditions and preserve it for future generations’ full life by means of the comprehensive approach to the environmental protection. Total gross emission of harmful substances into the atmosphere, water consumption, pollutants discharge into water bodies, and waste generation are strictly monitored. In 2019, the volumes thereof were significantly lower than the established standards. Current environmental costs for the year amounted to 478 RUN mln (in 2018 - 457 RUB mln). The total cost for environmental protection measures aimed at mitigating harmful effects of the facilities on the environment amounted to 242 RUB mln (in 2018 - 232 RUB mln).

Labor protection costs in 2019 amounted to 494 million rubles. Working conditions were improved for 614 workers. The costs of industrial safety measures amounted to 2.7 billion rubles, which is 8.1% more than last year. Kazanorgsintez PJSC keeps on regularly developing technologies and expanding the capacities, as well as improving and revamping the equipment. In 2019, some 12.6 RUB bn were invested in capital construction facilities and in equipment replacement and renovation (in 2018 - 12.7 RUB bn).

Four new high-selectivity cracking furnaces were put into operation at the Ethylene Plant; the PC Plant implemented the first revamp stage to expand production capacities; production of low-density linear metallocene polyethylene was launched at the HDPE Plant; construction of the benzene alkylation unit for isopropyl benzene production began at the Bisphenol A Plant; a new compressor station and a loading/unloading rack for liquefied hydrocarbon gases were put into operation at the Organic Products and Industrial Gases Plant; an infrastructure was created for shipment of products in 40ft sea containers; and activities related to the construction of own generating unit CCGT-250 were started.

The shareholders approved the annual report, annual accounting (financial) statements of Kazanorgsintez PJSC for the year of 2019.

Profit distribution and dividend payment were approved at the shareholders’ meeting of Kazanorgsintez PJSC. The decision provides for the accrual and payment of dividends on shares of Kazanorgsintez PJSC in the amount recommended by the Board of Directors:

- on preferred shares at the rate of 0.25 rubles per share;

- on ordinary shares at the rate of 4.5468 rubles per share.


The shareholders’ meeting as well elected the Board of Directors of Kazanorgsintez PJSC to include the following members:

– Sergey V. Alekseyev, First Deputy General Director,

Svyazinvestneftekhim JSC;

– Marat M. Garayev, General Director, Gazprom Pererabotka LLC;

–Albert A. Karimov, Deputy Prime Minister of the Republic of Tatarstan, Minister of Industry and Trade of the Republic of Tatarstan;

– Milic Zeljko, Executive Director, IPCOTRADING SA;

– Farid G. Minigulov, General Director, Kazanorgsintez PJSC;

– Vladimir V. Presnyakov, Deputy General Director for Refining and Petrochemicals, TAIF JSC;

– Aleksandr L. Rappoport, Managing Partner, Rappoport and Partners Law Firm;

– Dmitrii I. Teslenko, Head, Finance and Economic Division, TAIF JSC;

– Midkhat R. Shagiakhmetov, Minister of Economic Affairs of the Republic of Tatarstan;

– Ruslan A. Shigabutdinov, General Director, TAIF JSC.

Based on the special right (golden share), aide to the President of the Republic of Tatarstan Rinat K. Sabirov as the state agent was elected to the Board of Directors of Kazanorgsintez PJSC.

 

Besides, the Audit Commission was appointed at the shareholders’ meeting, consisting of:

– - Tatyana A. Barchenkova, 1st Grade economist, Financial and Economic Division of TAIF JSC;

– Aida R. Gabdrahmanova, Head of the Economic Planning Department of Kazanorgsintez PJSC;

– Olga V. Ignatovskaya, Chief Accountant of TAIF JSC;

– Yulai R. Minnullin, Head of the Department of Economic Analysis and Project Management of the Ministry of Economy of the Republic of Tatarstan.

 

Based on the special right (golden share), Head of the Department of Economic Analysis of the Ministry of Economy of the Republic of Tatarstan Fanis G. Gabdulkhakov as the state agent was elected to the Audit Commission.


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