OREANDA-NEWS. May 18, 2012. Pork and compound feed manufacturer No.1 in Russia - ABH MIRATORG continues to develop dynamically and demonstrate high financial performance in all directions of Holding activity.

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 2011 in comparison with 2010 (RUR 3,23 bln) and was total RUR 5,96 bln.

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  (Belgorod region) in 2011 was 128 thousand tons.  In spite of volume reduction of live animals purchase from third parties, it was possible to maintain the volumes of the slaughtering on the level of year 2010, to increase the production volumes of industrial package products by 2%, consumer package products – by 210%, to increase output of natural sausage casing by 34%, edible fat-by 13%,  blood-derived products -by 8%.

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.