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Ekosem-Agrar AG / Key word(s): Half Year Results
Ekosem-Agrar AG: Positive operational development continues in the first nine months of 2022
13.10.2022 / 10:00 CET/CEST
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Ekosem-Agrar AG: Positive operational development continues in the first nine months of 2022
- Raw milk production increases by 5.7% to 888,000 tons
- Dairy processing division achieves particularly strong growth of 39% with 112,900 tons of finished milk products
- Significantly better yields expected for the 2022 harvest season than in the previous year
Walldorf, October 13, 2022 - Ekosem-Agrar AG, the German holding company of the EkoNiva Group, which focuses on milk production in Russia, was able to record positive development in its main business areas in the first nine months of 2022. From January to September of the current year, the Ekosem-Agrar Group produced over 888,000 tons of raw milk - a growth of 5.7% compared to the same period last year. The average daily milk yield was over 3,250 tons (previous year: 3,077 tons). The daily performance per dairy cow was particularly decisive for the increase in raw milk production. This rose to 29.4 kg after 28.1 kg in the same period of the previous year. The average number of cattle in the first nine months of 2022 was 221,000, more than half of which were dairy cows (previous year: 210,610 cattle and 109,440 dairy cows).
The group achieved by far the greatest growth in milk processing, which rose by 39% to 112,900 tons of finished milk products compared to the same period last year. Production of fresh milk and traditional dairy products grew by 39% to over 109,100 tons, while yoghurt and dessert products (including ice cream) grew by 27% to almost 3,000 tons. Cheese production increased 7 times to 850 tons. The main reason for the positive result in milk processing was the expansion of the product range and sales outlets. The company also started up a new production line at the Anna Dairy with a capacity of ten tons of curds per day.
In arable farming, the company almost fully completed the harvest of wheat and barley by the end of the third quarter. The forage harvest also progressed well with 70% of the area harvested. Here, the company expects a yield of at least 930,000 tons of feed in dry matter for the year 2022 (previous year: 800,000 tons). In this way, the need for juice and roughage of the growing livestock can be completely covered. Overall, the crop yield has so far been higher than planned, so Ekosem-Agrar AG is assuming significantly higher yields in the 2022 harvest season than in the rather weak previous year. This reflects the Russia-wide development in agriculture. The company is currently in the process of winter sowing for the 2023 crop.
About Ekosem Agrar
Ekosem-Agrar AG, Walldorf, is the German holding company of the Ekoniva Group, one of the largest Russian agricultural companies. With a stock of almost 220,000 cattle (of which more than 110,000 dairy cows) and a milk yield of around 3,200 tons of raw milk per day, the company is the largest milk producer in the country. The group controls an agricultural area of approximately 630,000 hectares and is also one of the leading seed producers in Russia. The founder and CEO of the company is Stefan Dürr, who has been active in Russian agriculture since the late 1980s and has played a key role in its modernization over the past three decades. In 2009 he was awarded the Federal Cross of Merit for his services to the German-Russian Agricultural Dialogue. The group of companies has around 12,000 employees in nine administrative regions in Russia. In the 2019 financial year, Ekosem-Agrar generated an operating performance of EUR 565 million and an adjusted EBITDA of EUR 167 million.
