EQS-News

Ekosem-Agrar AG publishes operational information for the first nine months of 2023

EQS-News: Ekosem-Agrar AG / Key word(s): Miscellaneous Ekosem-Agrar AG publishes operational information for the first nine months of 2023 03.11.2023 / 08:00 CET/CEST The issuer is solely responsible for the content of this announcement. Ekosem-Agrar AG publishes operational information for the first nine months of 2023

• Increase in raw milk production by 5% to more than 936,000 tons can only partially compensate for declining milk prices
• Milk processing segment increases production by 77% to about 199,800 tons
• Harvesting operations in progress

Walldorf, 3 November 2023 – Ekosem-Agrar AG, the German holding company of Russian milk producer EkoNiva Group, has recorded a stable operational development in the first nine months of 2023. The company produced a total of more than 936,000 tons of raw milk from January to September – an increase of 5% compared to the same period last year. The average daily milk output in the reporting period was 3,429 tons (previous year: 3,252 tons). The increase in raw milk production continues to be particularly due to the growth in daily output per dairy cow, which rose to 30.5 kg in the first nine months of 2023 (previous year: 29.4 kg). Through increased raw milk production, the Ekosem-Agrar Group was only able to partially compensate for the continuing decline in milk prices. At the same time, increased costs for raw milk production were also recorded in the first nine months of 2023. The average number of cattle from January to September was 234,900 (previous year: 221,400 cattle), including 112,400 dairy cows (previous year: 110,700 dairy cows).

In the milk processing segment, the production of finished dairy products increased by around 77% to about 199,800 tons. Of this, fresh milk and traditional dairy products continued to account for the largest share at 189,400 tons. The production of yoghurt and dessert products (including ice cream) increased by 59 % to about 4,600 tons. Cheese production also increased strongly to 5,800 tons (previous year: 850 tons). The product range under the EkoNiva brand was expanded in the first nine months of 2023 to now 94 products. The company is also continuously expanding the distribution channels for its dairy products. The total number of retail outlets selling Ekosem-Agrar Group products now stands at 56,400, up from 39,300 at the end of 2022.