Rusagro’s revenue in 2023 increased by 20% – Kommersant

The consolidated revenue of Rusagro in 2023 (before inter-segment eliminations) amounted to a record 310.218 billion rubles, which is 20% more than in 2022. In the fourth quarter of last year, revenue also reached a record value of 122.462 billion rubles. (+76% year on year), reported (.pdf) press service of the company.

Rusagro attributed the growth in annual revenue to a significant increase in sales volumes in the agricultural and sugar segments, as well as the consolidation of the NMZhK group of companies in the second half of 2023.

The press release states that in the fourth quarter of last year, revenue growth was demonstrated by all business segments. In the fourth quarter, the revenue of the sugar segment grew the most – by 132% in annual terms (+15.709 billion rubles), agricultural – by 123% (+18.273 billion rubles) and oil and fats – by 5% (+1.571 billion rubles). In addition, the company reported an increase in Rusagro’s meat business by 8% (+RUB 989 million) during the reporting period.

The Rusagro Group is the largest vertical agricultural holding in Russia, with a land bank of 668 thousand hectares. In the third quarter of 2023, the net profit of the group of companies increased 15.8 times year on year, up to 25.3 billion rubles. At the beginning of December the holding reportedthat the capacity of the Balakovo oil extraction plant, which belongs to him, increased by a third – from 1.8 thousand to 2.4 thousand tons.

Erdni Kagaltynov