EQS-News
Ekosem-Agrar AG publishes preliminary figures as of 30 September 2022
EQS-News: Ekosem-Agrar AG / Key word(s): 9 Month figures Ekosem-Agrar AG publishes preliminary figures as of 30 September 2022 |
- Significant revenue and earnings growth in the first nine months of 2022
- Revenue increases by 59% to EUR 613 million
- EBITDA increases by 58% to EUR 258 million, of which EUR 167 million is cash EBITDA
Walldorf, 9 January 2023 – Ekosem-Agrar AG, the German holding company of Russian milk producer Ekoniva Group, achieved sales revenues of EUR 613 million in the first nine months of the 2022 financial year, 59% more than in the same period last year (previous year: EUR 386 million). At 59% (EUR 361 million), raw milk production again generated the highest share of total revenue (previous year: 63% or EUR 243 million). Revenues rose particularly strongly in the milk processing sector, with an increase of 98% to EUR 109 million (previous year: EUR 55 million).
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 to EUR 753 million in the first nine months of 2022 (previous year: EUR 502 million).
Earnings before interest, taxes, depreciation and amortization (EBITDA) increased by 58% to EUR 258 million (previous year: EUR 163 million). Cash EBITDA (EBITDA less changes in the balances of fall-ploughed land and of agricultural produce and biological assets) increased disproportionately by 132% from EUR 72 million in the same period of the previous year to EUR 167 million in the first nine months of 2022. This was mainly due to the increase in revenue and the only slight growth in the total herd.
Stefan Dürr, CEO of Ekosem-Agrar AG: "We can be largely satisfied with the financial development of our company in the first nine months of 2022. Despite difficult macroeconomic challenges, we have managed to maintain stability in our operating business. With regard to our forecasts, we remain cautious due to the dynamic situation."