IFRS net profit of Cherkizovo Group for 2019 decreased by 43.8% to RUB 6.751 billion from RUB 12.004 billion a year earlier, the company reported.
Adjusted net profit decreased to RUB 8.958 billion from RUB 9.958 billion a year earlier.
Revenue increased by 19.6% to RUB 120.109 billion from RUB 100.422 billion.
The net change in fair value of biological assets changed to negative RUB 1.4 billion, against positive RUB 1.8 billion in 2018. Net revaluation of harvested crops in stock was negligible in 2019, against RUB 2.2 billion in 2018.
Gross profit decreased by 4.5% to RUB 27.863 billion against RUB 29.182 billion in 2018, the company notes.
Adjusted EBITDA amounted to RUB 20.617 billion, almost flat year-on-year (vs. RUB 20.415 billion). the Adjusted EBITDA margin was 17.2% in 2019.
As of December 31, 2019, the company' net debt amounted to RUB 61.2 billion.
PJSC Cherkizovo Group (tax number: 7718560636) is an agricultural producer developing an integrated production business from feed-stuffs to ready meat products. The group comprises integrated poultry farms, pork production facilities, meat processing plants, feed mills and elevators. Cherkizovo's beneficiaries are Igor Babaev and his family.
IFRS net profit of Cherkizovo for the first 9 months of 2019 decreased by 36% to RUB 6.6 billion from RUB 10.4 billion a year earlier. Adjusted net profit increased by 13% to RUB 7.2 billion against RUB 6.4 billion a year earlier. As of September 30, 2019, the company's net debt amounted to RUB 62.4 billion. Revenue increased by 23.8% to RUB 85.6 billion, gross profit decreased by 5.9% to RUB 21 billion. Adjusted EBITDA went up 14.8% to RUB 15.7 billion.
"AK&M", 14.02.2020 13:02