Rusagro’s net profit in the third quarter increased almost 16 times – Kommersant

In the third quarter, Rusagro Group of Companies increased its net profit by 15.8 times, to 25.3 billion rubles, according to the reporting (.pdf). Adjusted EBITDA increased 1.7 times, to RUB 5 billion, revenue – by 31%, to RUB 71.7 billion. As the company clarified, the revenue of the sugar segment increased to 13.3 billion rubles, the meat segment – to 12.9 billion rubles, and the agricultural segment – to 12.2 billion rubles. Revenue from the oils and fats segment decreased to RUB 24.7 billion.

“The revenue of all business areas increased, except oil and fat, which is associated both with an increase in sales volumes and with more favorable market conditions. Revenue from the oil and fat business decreased due to lower world prices for fat and oil products, as well as a decrease in volumes as a result of the shutdown of the oil extraction plant in Balakovo for modernization,” explained Timur Lipatov, CEO of the Group of Companies.

The group’s net profit for nine months amounted to 38.5 billion rubles. against 2.2 billion rubles. a year ago, revenue – 178.2 billion rubles. against 182 billion rubles. Adjusted EBITDA decreased to RUB 30.6 billion. Revenue from the sugar segment decreased to 37.3 billion rubles, oil and fats – to 76.1 billion rubles, meat – increased to 35.6 billion rubles, agricultural – to 23.8 billion rubles.

Against the backdrop of the publication of financial statements, Rusagro’s receipts for Moscow Exchange grew by almost 4%. As of 11:21, the company’s securities are rising in price by 1.60%, to 1546.2 rubles.

The Rusagro Group is the largest vertical agricultural holding in Russia, with a land bank of 668 thousand hectares. In October the company announced about the intention to introduce a domestic agricultural production management system, the cost of the project is estimated at 670 million rubles.

Earlier, Kommersant found out that a structure that may be associated with shareholders of the Rusagro Group of Companies has entered the grain export market.

Read more about this in the material “We found a seller for the harvest”.

Laura Keffer