DGAP-News

Ekosem-Agrar AG with positive operating development in the first half of 2021

DGAP-News: Ekosem-Agrar AG / Key word(s): Half Year Results/Bond Ekosem-Agrar AG with positive operating development in the first half of 2021 30.07.2021 / 09:34 The issuer is solely responsible for the content of this announcement. Ekosem-Agrar AG with positive operating development in the first half of 2021

• Total output at EUR 343 million (previous year: EUR 336 million)
• Sales revenues up 12% to EUR 235 million (previous year: EUR 209 million)
• Cash EBITDA increases by 23% to EUR 32 million (previous year: EUR 26 million)
• Mark of 1 million tons of raw milk exceeded within twelve months
• Interest date of the Bond 2019/2024 on Monday

Walldorf, 30 July 2021 - Ekosem-Agrar AG, the German holding company of Russian milk producer EkoNiva Group, continued to grow slightly in the first six months of 2021 based on preliminary figures. Despite the weaker ruble, the company achieved a 12% increase in sales revenues to around EUR 235 million (previous year: EUR 209.0 million). In ruble terms, the increase in sales revenues was 32%.

Total output (revenue plus changes in the balances of fall-ploughed land and of agricultural produce and biological assets as well as other operating income) increased slightly in the first half of 2021 to EUR 343 million (previous year: EUR 336.0 million). At EUR 130 million, earnings before interest, taxes, depreciation and amortization (EBITDA) were just on a par with the prior-year period (EUR 132.8 million). In ruble terms, EBITDA was up 14 percent. The share of cash EBITDA (EBITDA minus change in fair value), however, increased significantly by 23% to EUR 32 million (previous year: EUR 26.3 million); in ruble terms, the increase in cash EBITDA was 43%.

Stefan Duerr, Chairman of the Management Board of Ekosem-Agrar AG: "After having mostly completed our investment program in 2020, we will be generating successively higher cash flows from our now 40 modern dairy cow facilities. The company's ability to service its debt is thus permanently secured."

On Monday, 2 August 2021, the company will pay the interest coupon on the Bond 2019/24 (ISIN DE000A2YNR08). The bond with a volume of EUR 100 million yields interest of 7.5% p. a. for investors.