Dniproazot Shareholders Huddle Up To Plan For 2006.

On March 3, 2006, Dniproazot (DNAZ: HOLD) held its AGM. Changes to the Supervisory Board and the Board of Directors were made, and the registrar was changed. It was announced that in 2005 Dniproazot earned USD 187.3 mln of net revenue (+19.5% yoy) and USD 29.8 mln in net income (+49.7% yoy).  Shareholders also approved CapEx of USD 6 mln for 2006. Concorde Capital: Overall our forecasts for the company seem to be right on target.  DNAZ’s actual revenue deviates from our forecast (USD 184.2 mln) by about 1.6%. No shock that the company decided to suspend this year’s investment plans. Neither construction of the ammonia pipeline (connecting the plant with the Toliatti-Odessa pipeline), nor the overhaul of the second ammonia facility will be done this year.