DGAP-News Ekosem-Agrar AG: Successful business trend in the first half of 2020
DGAP-News: Ekosem-Agrar AG / Key word(s): Half Year Results/Interim Report
Ekosem-Agrar AG: Successful business trend in the first half of 2020
- Total output lifted to EUR 336.0 million (previous year: EUR 267.1 million; +26%)
- Sales revenues increased to EUR 209.0 million (previous year: EUR 156.8 million; +33%)
- Daily milk output increased to 2,567 tons (+7%)
- EBITDA up 50% to EUR 132.8 million (previous year: EUR 88.4 million)
- Net profit up 65% to EUR 38.3 million (previous year: EUR 23.2 million)
- Process for the development of a sustainability strategy initiated
Walldorf, 25 September 2020 - Ekosem-Agrar AG, the German holding company of Russian milk producer EkoNiva Group, generated sales revenues of EUR 209.0 million in the first half of 2020, up 33% on the same period of the previous year (EUR 156.8 million). At about 456,000 tons, raw milk production was up 30% on the previous year's 352,000 tons. Sales of raw milk thus remain the most important sales driver at 73.5 % or EUR 153.6 million (previous year: EUR 111.5 million). Milk processing contributed EUR 20.1 million (previous year: EUR 17.6 million) or almost 10% to total sales revenues. Sales of agricultural products amounted to EUR 17.9 million (8.6%; previous year: EUR 13.8 million), and revenues from livestock and animal products reached EUR 13.1 million (6.3%; previous year: EUR 8.7 million).
In the first six months of 2020, the total herd in raw milk production grew slightly to almost 189,000 cattle (31 December 2019: approximately 182,200 cattle). The number of dairy cows increased by around 5% to 102,430 animals on the balance sheet date (31 December 2019: approximately 97,640 dairy cows). Daily milk output also rose by 7% to 2,567 tons as of 30 June 2020 (31 December 2019: 2,400 tons). The company expanded the area of land controlled by it from about 599,000 hectares to about 631,000 hectares in the reporting period.