Achema, which is based in Jonava, in central Lithuania, doubled its revenues to 2.2 billion litas (EUR 638 m) last year, from 1.1 billion litas in 2010.
"The year 2011 was special, with revenues topping 2 billion litas and exports approaching 90 percent (of the total sales)," Achema CEO Valdemaras Vareika told the paper.
The fertilizer manufacturer does not expect to see another jump in revenues this year, with the first-quarter result indicating that revenues will remain at last year's level, he said.
Kėdainiai-based Lifosa posted a 32 percent increase in revenues last year, to 1.4 billion litas. Although its revenues were lower than those of Achema, its net profit was twice as high, at 246 million litas.
Lifosa CEO Jonas Dastikas said the company's net profit margin was likely to fall to 10 percent this year, from close to 20 percent in 2011.
"Our profits rise when fertilizer prices go up. Given that these prices fell somewhat at the start of this year, we forecast lower profitability this year," he said.
2012-05-24 10:50
Lithuanian fertilizer companies expect no more growth after record year
The Lithuanian chemical industry's revenue hit an all-time high last year, with two companies - Achema and Lifosa - accounting for half of it, the business daily Verslo Žinios reports.
Achema / „Scanpix“ nuotr.
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