11.30.2016 / 10:49
Ekosem agriculture with good harvests and significant growth in milk production in the first nine months 2016
- Increase milk production by 24% to 166,000 tonnes
- Record food crop of 870,000 tonnes (+ 24%)
- Sales in EUR + 9%, currency adjusted + 26%
- Gradual expansion of the own milk processing and expand the product range
Walldorf, November 30, 2016 - Ekosem-Agrar GmbH, the German holding company of the aligned on milk production and farming in Russia group of companies Ekoniva, also remains in the first nine months in 2016 on a solid growth path. Despite worldwide lows in milk prices, the Group increased its sales in milk production by the growth of the dairy herd and a higher milk yield per animal. As the leading European and Russian dairy producer Ekosem-Agrar increased its dairy herd by 13% to 27,100 animals at the end of September 2016 (previous year: 24,000) and seeks to end a herd size of about 28,000 animals on. Also by the end of 2016 the main construction activities will be completed in two other dairy farms in the regions of Voronezh and Kaluga. The daily milk yield of the Group amounted in the first nine months 2016 average of around 606 tonnes (previous year: 491 tonnes). The total milk production increased from approximately 134,000 tons in the same period by 24% to around 166,000 tonnes by the end of September 2016. The area of Zuchtfärsenverkaufs won in the first nine months of importance - with more than 3,000 animals were good compared to last year four times more animals sold.
Early September 2016 has taken its second test plant for milk processing in operating the Ekosem agricultural group. The dairy near Voronezh can process up to 30 tons of raw milk to milk, sour cream, kefir, cottage cheese and yogurt daily. The products are sold under its own brand in Greater Voronezh. Experience for the eventual construction of a large dairy processing is to be collected through the operation of the plant.
Due to a weaker ruble revenues in euros were compared to the same period under negative currency effects of approximately 15%. Meanwhile, the Russian currency could stabilize again and is currently trading around one third higher than its low in January 2016. In the milk prices worldwide has emerged since the end of the third quarter, a significant recovery from. The close coupling of the Russian milk price on the world market also Ekosem-Agrar benefits from this development.
Operating revenue (revenue plus the change in inventories of finished and unfinished products, value and changes in inventories of agricultural products and biological assets and other operating income) recorded an increase to EUR base of almost 2% to 108.6 million euros (previous year : EUR 106.6 million). Revenues also increased and amounted to 79.0 million euros, representing an increase of around 9%. Adjusted for currency effects, which means based on the average ruble exchange rate of the previous year, the operating revenue rose by more than 17%, the sales increased currency-adjusted by 26%.
Earnings before interest, taxes, depreciation and amortization (EBITDA) amounted in the first nine months to EUR 37.3 million, slightly below last year's figure of EUR 39.7 million. The EBITDA margin of 34% of total output at a high level. The operating result (EBIT) reached EUR 24.3 million, just the previous year (previous year: EUR 27.3 million), corresponding to an EBIT margin of 22%.
Ekosem-Agrar Group looks back on a good harvest season 2016th Thus, with around 870,000 tonnes a record-forage retracted, an increase of approximately 24% compared to the previous season. This is the power of the herd, ensured also in terms of new businesses over the next harvest also. Income in the main for sale certain crops were mixed. In the Black Earth Region good yields in wheat and sugar beet were scored this season due to a rainy spring. The wheat harvest amounted to about 105,000 tonnes well above the previous year's level, while corn and soybeans yielded slightly below average returns.Prices in Russia are stable for all cultures and are approximately at the same level.
Stefan Dürr, majority shareholder and CEO of Ekosem-Agrar GmbH:.. "With the year to date, we are, in spite of the world-market-related low milk prices, and they feature the latest development gives us hope that the worst is when milk prices, financing conditions in Russia have in Rates improved again for the end of 2015. If the funding policy of the Russian government will continue to exist for farms at the current level, then we see the future growth opportunities for the group. "
The assets of Ekosem Group amounted to 30 September 2016, 502 million euros (31 December 2015: 404.7 million euros, adjusted). The equity ratio was 15.1%, slightly higher than at the end of 2015 (12.9% adjusted).