OREANDA-NEWS. July 18, 2011. OJSC RAZGULAY Group published consolidated financial statements (IFRS) for the year 2010. Company’s revenue amounted 24 billion rubles. EBITDA increased to 4.3 billion rubles, against 3 billion rubles in 2009. EBITDA margin reached 18% versus 10% a year earlier. Razgulay Group had a net profit of 143 million rubles, compared with a loss of USD 1.6 billion in 2009, reported the press-centre of Razgulay Group.

Total Group’s loan portfolio in 2010 amounted 24.9 billion rubles, against 25.7 billion rubles a year earlier.

"The results of agricultural holding’s financial statements on the basic parameters are consistent with managerial accounting, which was presented in February this year. Indicators show a significant improvement in financial stability and reduction of the leverage. So, we can see almost twofold increase profitability of EBITDA and the reduction of debt / EBITDA ratio from 8.5 in 2009 to 5.8 in 2010.

In addition, as a result of organizational structure optimizing, the administrative expenses decreased by almost 20%, and amounted USD 1.9 billion, compared to 2.3 billion rubles in 2009 - said Dmitry Shteinsapir, a member of the Board of Directors of Razgulay Group. - In 2011, according to the new development strategy, we plan to implement a series of consecutive actions to phase out low-margin operations and concentrating on strategic directions, which should significantly affect the performance of the company and its financial results. "