EQS-News

Ekosem-Agrar AG publishes operational information for the 2023 financial year

EQS-News: Ekosem-Agrar AG / Key word(s): Miscellaneous Ekosem-Agrar AG publishes operational information for the 2023 financial year 09.01.2024 / 12:00 CET/CEST The issuer is solely responsible for the content of this announcement. Ekosem-Agrar AG publishes operational information for the 2023 financial year

• Positive development of main business segments
• Milk Processing segment with strongest growth

Walldorf, 9 January 2024 – Ekosem-Agrar AG, the German holding company of Russian milk producer EkoNiva Group, has produced 1.26 million tons of raw milk in physical weight, exceeding the previous year's result by about 5% (2022: 1.19 million tons). Through increased raw milk production, the Ekosem-Agrar Group was only able to partially compensate for the temporary decline in milk prices during the course of the year. At the same time, increased costs for raw milk production were also recorded in the past year. During 2023, average milk yields at the group's facilities were 105,000 tons per month. The average daily milk yield for the reporting period reached 3,440 tons (2022: 3,261 tons).

In the reporting period, the average number of cattle in all Ekosem-Agrar Group farms totaled over 235,300 head (2022: 222,800 head; +5.6%), including more than 112,500 dairy cows (+1.1%) in the feedlot. In October 2023, the Group commissioned the Bortnikovo cattle breeding complex in the Stupino district of the Moscow region. The project is designed for 3,550 head of dairy herd and 5,100 head of young stock. Its production capacity is 34,000 tons of raw milk per year.

Processed dairy products increased by 70% year-on-year

In January-December 2023, Ekosem-Agrar produced 279,500 tons of finished dairy products, up 70% year-on-year (2022: 164,000 tons). In particular, production of drinking milk and traditional dairy products (cream, kefir, sour cream, cottage cheese, butter, etc.) increased by 68% year-on-year to 265,000 tons (2022: 158,000 tons), yogurt and dessert group (including ice cream) by 41% to 6,200 tons (2022: 4,400 tons), cheese by 7 times, exceeding 8,300 tons (2022: 1,200 tons). The range of products under the EkoNiva brand at the end of 2023 included 88 product lines (2022: 79).