Back

Measuring our strategic performance

Relevance to the strategy

Difference between production and sales volumes is one of the indicators of the efficiency of our logistics, trading performance and route to market.

Measurement

The amount of potash sold within the period. The amount of potash produced within the period.

Performance overview

Our sales volume increased in H2 2013 when Uralkali was able to regain its market share. The difference between production and sales volume is not considered significant and is in line with the historical range.

Maintaining of credit ratings

  • 2013: Investment-grade ratings maintained
  • 2012: Investment-grade ratings received
Relevance to the strategy

Investment-grade ratings acknowledge that Uralkali is a first-class borrower with a strong industry position, balanced financial policy, prudent risk management practices, and adherence to leading corporate governance standards. We remain committed to maintaining our existing credit rating and will follow a financial policy supportive of this.

Measurement

Type of ratings assigned to the Company by three international rating agencies: Fitch, Moody’s and Standard & Poor’s.

Performance overview

Despite current challenges both on the macro and potash industry levels rating agencies have recognised strong industry fundamentals and maintained Uralkali’s ratings at investment-grade levels.

The Company’s governance and transparency are not cited by the rating agencies or regulators in any negative decision about the Company.

2013: The Company pursues a consistent policy of enhancing its corporate governance and information transparency. This includes improving the information uploaded to its website and the quality of public reporting. No claims made by regulators.

2012: The Board of Directors passed its resolutions in a timely manner and in line with applicable legal and other requirements. Information about the Board’s resolutions and about any other significant events was disclosed in a timely manner. No claims made by regulators.

Relevance to the strategy

The corporate governance system, based on the best global standards, is the backbone of shareholders’ trust.

Measurement

Any defects in the Company’s governance, transparency, disclosure or ethical standards, practices or procedures cited by any regulator with jurisdiction over the Company's securities as a reason for an adverse decision with respect to the Company.

Performance overview

Corporate governance continued to be a priority area for Uralkali in 2013. The decision-making process in the Company was strictly in line with legal and regulatory requirements and in full accordance with the best global corporate governance practices.