ABH Miratorg Drew up Financial Results of Year 2011
OREANDA-NEWS. May 18, 2012. Pork and compound feed manufacturer No.1 in
According to the data of audited consolidated financial statements, prepared together with IFRS, the net profit of the first-rate investor to the agro industrial complex of Russia increased by 84,5% within
Profit before tax, depreciation and financial costs and returns (EBITDA) within the accounting period was total RUR 8,78 bln.
Revenue of ABH MIRATORG for 2011 was total RUR 38,50 bln., which is by 12 % higher than revenue for the same period of the last year (RUR 34,37 bln). EBITDA profitability increased substantially and was total 22,81%, in comparison with 18,31% within year 2010.
Net debt index/EBITDA decreased by 26% as of 31.12.11 and was total 3,7, in comparison with 5,0 as of 31.12.10.
Assets of the holding increased by 41,27% and amounted RUR 15,98 bln.
Within year 2011, all divisions of ABH MIRATORG kept demonstrating steady rise of production performance. In 2011, the aggregate volume of cereal crops harvested by ABH MIRATORG within the framework of harvesting campaign was total 228 thousand tons, which is by 30% higher than the index of 2010 (176 thousand tons).
Based on the results of 2011, the aggregate volume of compound feed production by ABH MIRATORG was total 425.5 thousand tons, which is by 53 % higher than the same index of 2010 (278 thousand tons). Pork production volume in 2011was 170,2 thousand tons in live weight, which is by 24% higher than index of the same period in 2010 (137,6 thousand tons). Following the results of 2011, livestock of breeding sows (reproductive herd) was total 90 thousand heads, which is by 62% higher than in 2010 (55 thousand heads).
Output volume of JSC ‘’Pig Complex Korocha, meat processing factory of ABH MIRATORG (
In 2011, ABH MIRATORG proceeded implementing the import substitution strategy.
Sales share of the own products through distributing division of Holding was total 121,5 thousand tons. Total sales of distributing division of Holding within 12 months of year 2011 was total 289,3 thousand tons.
Making comments on financial results of group in 2011, Viktor Linnik, President of ABH MIRATORG pointed out as follows: "Figures of financial statements for 2011 prove the strategy of production vertical integration, chosen by us, to be correct.
Increase of production capacity in segment of pork production and meat processing, development of the own distribution are the evidence of the quality of investments effected earlier.
Dynamics of production and financial indexes underline the leading positions of MIRATORG in their market sector.
In the current year we will continue to actively increase production capacities and implement the tasks put forward earlier.
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