DGAP-News: Ekosem-Agrar GmbH: Russia's largest milk producer boosts profit significantly in 2012
(firmenpresse) - DGAP-News: Ekosem-Agrar GmbH / Key word(s): Final Results
Ekosem-Agrar GmbH: Russia's largest milk producer boosts profit
significantly in 2012
20.06.2013 / 09:24
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Ekosem-Agrar GmbH: Russia's largest milk producer boosts profit
significantly in 2012
- Total output +22% to EUR 108.2 million
- Operating result +42% to EUR 17.2 million
- Positive outlook for FY 2013
Walldorf, 20 June 2013 - Ekosem-Agrar GmbH, the German holding company of
Russian milk producer Ekoniva Group, continued its profitable growth in
2012. 'We are highly satisfied with our performance in 2012,' says Stefan
Dürr, Managing Director and majority shareholder of the Group. 'Over the
past years, we have made significant investments in the expansion of our
dairy cattle herd, modern sheds, milking technology and farmland. The sharp
rise in earnings in 2012 shows that we are on the right track.' The dairy
cattle herd increased from 11,700 to 15,500 cows in 2012, which represents
an increase of 33%. The Group's total farmland grew from 159,000 to 176,000
hectares, of which 94,000 hectares were owned by the company as of the
balance sheet date.
The growth in the dairy cattle herd and the farmland had a very positive
impact on Ekosem-Agrar's revenues and earnings. After the change of the
financial year to the calendar year, the following comparative figures
refer to the full year 2011. Group revenues were up by an impressive 47% on
the previous year to EUR 72.3 million. The total output, which is an
important indicator for an agricultural company and includes revenues as
well as changes in inventories, biological assets and other operating
income, rose by 22% to EUR 108.2 million. Growth was driven by both of the
company's business segments: In the milk production segment the daily milk
output climbed from 186 tons at the end of 2011 to 269 tons. This means
that Ekosem-Agrar produced a total of approx. 84.1 million litres of milk
in 2012 (previous year: 52.3 million litres), which were sold at an average
price of approx. 39.8 euro cents. Revenues from the sale of milk increased
by 41% to EUR 32.2 million. Thanks to the good harvest and the high price
level, revenues from the sale of agricultural products soared by 84% to EUR
31.3 million. In addition, the Group generated revenues of approx. EUR 6.3
million from the sale of fattening bulls and cull cows (previous year: EUR
4.9 million).
Earnings also increased at all levels in FY 2012. Earnings before interest,
taxes, depreciation and amortisation (EBITDA) rose by 47% to EUR 32.9
million. Earnings before interest and taxes (EBIT) climbed 42% to EUR 17.2
million, while net income for the year soared from EUR 0.9 million to
approx. EUR 6.2 million.
Further growth planned for 2013
Ekosem-Agrar continues to grow and expand its leading position in the
Russian milk market. This is confirmed by the figures as of the end of May
2013. A herd of 16,830 dairy cows produced some 346 tons of milk per day,
up 29% on year-end 2012. This means that the milk output has grown at a
much higher rate than the cow herd. At 41.5 euro cents, the price of a
litre of milk is higher than in the previous year. The Group's arable land
also continues to grow and stood at approx. 186,000 hectares - of which
101,000 are owned by the company - at the end of May, which clearly exceeds
theyear-end 2012 figure.
Says Wolfgang Bläsi, Managing Director and CFO of Ekosem-Agrar GmbH: 'Even
though the coming months are still important for the agricultural sector,
we are confident, judging from the performance in the first five months of
the year, that we will be able to continue our profitable growth. Most
importantly, our cattle herd has reached a size which enables us to grow
organically, i.e. without importing young animals.' The company plans to
increase the number of dairy cows to over 20,000 by the end of 2013.
The full consolidated financial statements of the Ekosem-Agrar Group will
be published at the end of June.
Operating key figures:
31.12.2011 31.12.2012 31.03.2013 31.05.2013About Ekosem-Agrar
Arable land 159,000 ha 176,000 ha 182,500 ha 186,000 ha
thereof owned 72,900 ha 94,000 ha 97,600 ha 101,000 ha
Number of dairy cows 11,700 15,500 16,500 16,800
Daily milk output 186 tons 269 tons 332 tons 346 tons
Ekosem-Agrar GmbH Walldorf, Germany is the German holding company in the
Ekoniva Group, the largest Russian agricultural companies. With over 41,000
head of cattle and an average milk production of more than 346 tons per
day, the company is the largest milk producer in the country. The group has
more than 186,000 hectares of land and is also one of the leading producers
of seed in Russia. A third area of business is currently being established
with premium beef. The founder and managing director of the company is
Stefan Duerr. He has been active in Russian agriculture since the 1980s and
has played a decisive role in its modernization over the past two decades.
In 2009, he was awarded the German Federal Cross of Merit for his
contributions to the agricultural policy dialog between Germany and Russia.
The corporate group has about 3,100 employees at six locations in Russia
and achieved a total output of EUR 108.2 million and an EBIT of EUR 17.2 in
fiscal year 2012. For further information visit: www.ekosem-agrar.de
Contact
Irina Schwachhofer
Ekosem-Agrar GmbH
Johann-Jakob-Astor-Str. 49
69190 Walldorf
T: +49 (0) 6227 8890 300
E:irina.schwachhofer(at)ekosem-agrar.de
Media / Investor Relations
Fabian Lorenz
IR.on AG
T: +49 (0) 221 9140 974
E: fabian.lorenz(at)ir-on.com
End of Corporate News
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Language: English
Company: Ekosem-Agrar GmbH
Johann-Jakob-Astor-Str. 49
69190 Walldorf
Germany
Phone: +49 (0)6227 358 59 33
Fax: +49 (0)6227 358 59 18
E-mail: info(at)ekosem-agrar.de
Internet: www.ekosem-agrar.de
ISIN: DE000A1MLSJ1, DE000A1R0RZ5
WKN: A1MLSJ, A1R0RZ
Listed: Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover,
Stuttgart (bondm); Frankfurt in Open Market
End of News DGAP News-Service
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Datum: 20.06.2013 - 09:24 Uhr
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News-ID 271552
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