Pétfürdő, August 28, 2019 – Nitrogénművek Zrt. one of the leading nitrogen based fertilizer producers and agricultural input-material distributor companies in Central European region, today published the Consolidated financial statements for the first half of 2019. Based on these statements Net sales of this period were HUF 53 022 million, 1,67% lower than the same period of previous year.

 The first-half performance of EBITDA level reached HUF 9 252 million, 217% higher than the corresponding period in 2018. The significant increase was primarily driven by strong demand and correction in margins.

“As it was indicated earlier the favourable trends in the industry supported our performance and Nitrogénművek Zrt. delivered a strong half-year result, despite the lower production volume. Due to maintenance works we have not reached an optimal production level yet and only 2020 will be the first period when the Company will be able to deliver the full potentials of recent investments.” - emphasized Mr. Zoltan Bige, Nitrogénművek Zrt.’s Chief Strategy Officer. “By reaching our full capacities we will achieve further significant efficiency gains.”

Key Indicators	1H 2019	1H 2018	Change
Sales, HUFm	53 021	53 926	-1,67%
EBITDA, HUFm	9 252	4 259	217,24%
Ammonia production, mt	168 000	180 000	-6,66%
Operating CF, HUFm	4 342	-420
Net Debt/EBITDA	6,8x	7,7x	-11,68%