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Income and revenue increased year on year through the expansion of sales volumes of all main products, with the exception of some in the optics and other fields. In this business, we will move away from a business model with an unbalanced emphasis on supplying parts for products such essay as digital consumer electronics, and shift to a business that maintains stable and high profitability in domains where future growth can be expected. Our acquisitions in the measurement instrument field are also part of this strategy and made a solid contribution to business performance this fiscal year.
Although under the summary influence of worsening market conditions sales were slow for glass substrates for hdds and pickup lenses for optical disks, the adoption of our products grew in growth domains such as projector lenses for digital cinemas and replacement lenses for digital single lens. Shipments of lens units for smartphones commenced from the beginning of 2012 and the sales volume of all products exceeded the previous fiscal year. Sales volumes exceeded the previous fiscal year, having acquired large orders for light-source color measurement equipment such as the cl-200A Chroma meter and the ca-310 Color Analyzer used in quality management of the manufacturing process for smartphone displays and led lighting. To enhance our competitive strengths in the light source color measurement domain, in november 2012 we acquired Instrument Systems GmbH (HO: Germany which possess a strong share in the high-end segment of such products in particular. The company is a leader in the led and lighting industry and has strong technical and sales capabilities in the field. This acquisition will expand our product line-up in the display measurement field, in which we already possesses the top share. It will also help to maintain the Groups firm leading position in comprehensive reviews light source color measurement, including the rapidly expanding led lighting and organic light emitting diodes (oled) fields, in which strong growth is expected in the future. In addition, synergy between the next-generation lighting and materials business including oled and this light-source measurement business is expected. Based on these results, sales for the Industrial Business were 146.7 billion (yoy.6) and operating income was.6 billion (yoy.7).
North-Western Phosphorous Company is developing a social policy based on the fair Work programme adopted by Acron and Dorogobuzh. This experience will create a framework for hiring 2,500 employees for Verkhnekamsk potash Company, which started construction operations at the talitsky mine, perm Krai, in the reporting year. Relying on advanced technologies and global experience will help us minimise our environmental impact and enhance safety as early as the construction stage. Select a pharmaceutical sector Fine speciality ChemicalsManufacturingProcess productionotc drug DeliveryDrug Discovery development Clinical TrialsContract ResearchContract Services it softwareLaboratory Instrumentation Inward InvestmentPackagingRegulatory Affairs. Suppliers Directory, select a pharmaceutical sector Fine speciality ChemicalsManufacturingProcess productionotc drug DeliveryDrug Discovery development Clinical TrialsContract ResearchContract Services it softwareLaboratory Instrumentation Inward InvestmentPackagingRegulatory Affairs. Our mainstay 40μm tac film for lcd polarizers, va-tac film for increasing the viewing angle of large tvs, 60μm tac film, and other thin-film products performed well, with sales volume exceeding that of the previous fiscal year. The unprecedented 25μm ultra-thin tac film for the mobile market went into mass production from november 2012, further boosting our competitive strength in thin-film products.
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In light of writing the instability in all of the single-nutrient fertiliser markets, there was notable stability of demand for our key product complex fertiliser containing all three nutrients. The npk market is less subject to volatility than the general global market. This stable demand is maintained primarily due to customer loyalty to this type of fertiliser. The market is being supported by growing demand from traditional consumers, such book as China, thailand and Russia, and from developing markets, such as Brazil and vietnam. Prices for nitrogen fertilisers have stabilised since the start of the 2013 spring seeding season.
It should be noted that current prices for agricultural products are fairly high, thus encouraging farmers worldwide to apply fertilisers more actively, which makes us believe that the situation in the fertiliser market will remain favourable. As for the prospects of the complex fertiliser market, despite competition from dap producers that have switched to npk operations, Acron maintains its competitive edge and leading positions in key markets due to the high quality of our products and our aggressive marketing policy. Sustainable development, acron Group has several essential sustainability objectives, which include building a pool of skilled personnel to promote strong workforce potential, enhancing industrial safety to reduce injuries, cutting emissions and ensuring rational use of resources, and supporting development in the regions where it operates. Over the past few years, we have been focused on our mining operations. Major endeavours like this need skilled experts, but they also require that we build a good team and put in place a system of social guarantees. In the reporting year, we launched the Oleniy ruchey mine, which has provided jobs for over 2,000 people in the past few years.
Last autumn we obtained permits to build shafts at the talitsky mine. This is the most labour- and cost-intensive stage of the potash project. We started ground freezing work and construction of the required infrastructure. In 2013, the Group will begin drilling two shafts. In addition, in 2012 we made extensive preparations for the Ammonia-4 project, including basic design, starting preparation of the construction site and choosing equipment suppliers. We will have to do a huge amount of work over the next few years in order to produce the project's first tonnes of ammonia by 2015.
The reporting year was challenging for producers of all types of mineral fertiliser. On the one hand, we capitalised on the favourable environment in the nitrogen fertiliser market in the first half of 2012, when urea and an prices were close to their local highs. The Group reacted rapidly to the price surge and used this time period to the maximum benefit. On the other hand, in the second half of the year certain factors put significant pressure on the nitrogen market and led to a price adjustment. Despite its volatility, however, the nitrogen fertiliser market was the only one to demonstrate higher sales, while phosphate and potash fertiliser producers faced a considerable drop in demand from their main consumers and had to cut back production. Because nitrogen fertilisers must be applied annually, farmers all over the world have to continue using them even during periods of instability. This advantage of the nitrogen market helps producers maintain high capacity load and efficiently respond to price fluctuations even in the face of natural market cycles.
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The Oleniy ruchey mine is the Group's largest completed investment project. Shipment of paper the first tonnes of thesis apatite concentrate in December is the result of six years of strenuous work mine project design and approval, construction of the infrastructure, factory and open pit. In the middle of the reporting year, we completed the main construction work and then, for four month, we fine-tuned the equipment and adjusted the technology to obtain standard quality product. Our main task for the first half of 2013 is to gradually increase output while streamlining operations to reach design performance in terms of consumption indices and commercial concentrate recovery. Construction of the underground mine continued simultaneously with the launch of the mines first stage. We plan to start the underground mining in 2017. Total investment since project kick-off has reached usd 500 million. The Group achieved noteworthy progress in the reporting year on two other major investment projects: construction of the talitsky mine and a new ammonia unit at Acron.
I would like to point out that we use different approaches for employee our major investment projects. Total financing of approximately usd 1 billion for the second stage of the Oleniy ruchey mine and construction of Ammonia-4 unit will come from the Group's own funds and operating cash flow generated by the mine starting in 2013. Construction of the talitsky mine is a more cost-intensive project to be implemented together with investors and using a loan facility from Vnesheconombank. At this point, we have obtained over usd 400 million from three investors and have agreed on a further usd.1 billion as a loan, which will provide 75 of the project's total capex. This approach allows us to secure timely financing for our investment projects over the next few years while maintaining stability. Investment projects, in 2012, we completed two major investment projects, namely construction of the first stage of the Oleniy ruchey mine and a new Urea-1000 unit. Importantly, both projects were completed to schedule and within budget.
2013. As a result, we will keep costs under control and also drive down future expenses. Net profit in the reporting year was down 27 to rub.9 billion. It is important to note that in 2011 the profit was considerably affected by oneoff sales of securities and exploration permits in Canada. The adjusted net profit excluding those one-off transactions actually increased. In 2012, capex reached a record high of rub.1 billion. Management is focused on maintaining the Group's financial stability as it implements a challenging investment programme. The Group has kept its net debt below 3 x ebitda, and in the reporting year it was.6.
As of the end of the year, the Group's Russian facilities have been using raw phosphates for npk manufacturing from wholly owned sources. The Oleniy ruchey mine is diary ramping up and we plan to reach the design capacity of 60,000-65,000 tonnes per month by june, 2013. Once this happens, we will completely cover Acron and Dorogobuzh's input needs. Financial results, revenue in 2012 was up 9 to rub.1 billion thanks to higher sales and strong fertiliser prices in the first half of the year. Ebitda dropped 4 to rub.9 billion, primarily due to an increase in the cost of inputs. Prices are up sharply as Russia continues deregulating its raw material market. Since 2011, the price for potash has been calculated based on the export price. The situation in the apatite concentrate market has been similar since 2012.
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"The Group's achievements in 2012 include dynamic operating performance on database the back of a favourable environment in the nitrogen and complex fertiliser global market, strong financials, and the successful launch of new apatite concentrate and urea production facilities. These achievements provide further proof of our effective development strategy and sustainable business model.". Operating results, in 2012, the Group's total commercial output reached.9 million tonnes, 1 up year-on-year. In the nitrogen segment, commercial output was up 7 due to an expansion of urea and uan capacity and improved efficiency at the ammonia units. A lengthy overhaul of the ammonia unit at Dorogobuzh drove down basic indices, but that was offset by higher production at Acron. Complex fertiliser output was down 1 year-on-year because Acron and Dorogobuzh were forced to suspend npk operations due to interrupted supplies of phosphates by a counteragent. The 13 increase in complex fertiliser output at Hongri Acron mitigated the drop at the Group's Russian facilities. The operational highlight of the reporting year was the start of apatite-nepheline ore operations and, since december, of apatite concentrate.