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Ekosem-Agrar reports solid revenue and earnings growth for H1 2016 - Seite 2
4.9 million, net income for the first six months was up by 22% on the
previous year.
Says Stefan Dürr, main shareholder and Managing Director of Ekosem-Agrar
GmbH: "Agriculture is currently one of the few growth sectors in Russia.
This clearly benefits our company, which is the largest milk producer and
an important seed producer of the country. On balance, the expansion of our
core business is proceeding according to plan, although milk prices are
low. Thanks to the rainy spring, the crop farming segment recorded decent
harvests as well as a solid revenue trend in spite of moderate producer
prices. The high financing costs remain a major downside, although experts
believe that the worst of Russia's economic crisis seems to be over."
The Ekoniva Group's dairy cow herd increased by approx. 12% to 27,800
animals in the first half of 2016, while the average daily milk output was
up by over 25% on the prior year period to 600 tons. Total assets rose to
EUR 475.4 million as of 30 June 2016 (31 December 2015: EUR 404.7 million)
due to seasonal and currency effects as well as to the Group's growth.
Financial liabilities increased to EUR 318.6 million in the course of the
year (31 December 2015: EUR 293.9 million), e.g. due to pre-financing in
the crop farming segment. Concurrently, equity position rose by EUR 25.3
million to EUR 77.5 million. This represents an improved equity ratio of
16.3% (31 December 2015: 12.9%). After payment of interest, Ekosem-Agrar
generated a positive operating cash flow of EUR 5.0 million in the
reporting period (previous year: EUR -7.9 million).
Ekosem-Agrar confirms its revenue forecast of EUR 110 million to EUR 120
million and its EBITDA forecast of roughly EUR 50 million for the full year
2016.
The 2016 interim report is available on the company's website at
www.ekosem-agrar.de/en/investor-relations/financial-publications.html.
About Ekosem-Agrar
Ekosem-Agrar GmbH Walldorf, Germany is the German holding company in the
Ekoniva Group, one of the largest Russian agricultural companies. With over
60,000 head of cattle (thereof more than 28,000 dairy cows) and an average
milk production of around 650 tons per day, the company is the largest milk
producer in the country. The group has more than 196,100 hectares of
farmland and is also one of the leading producers of seed in Russia. The
founder and managing director of the company is Stefan Dürr. He has been
active in Russian agriculture since the 1980s and has played a decisive
role in its modernization over the past two decades. In 2009, he was
awarded the German Federal Cross of Merit for his contributions to the
agricultural policy dialog between Germany and Russia. The corporate group
has about 3,850 employees at six locations in Russia and achieved a total
output of EUR 145 million and an EBIT of EUR 40 million in fiscal year
2015. For further information visit: www.ekosem-agrar.de
Contact
Irina Schwachhofer // Ekosem-Agrar GmbH // Johann-Jakob-Astor-Str. 49 //
69190 Walldorf // T: +49(0) 6227 3585 919 // E:
irina.schwachhofer@ekosem-agrar.de // www.ekosem-agrar.de
Media / Investor Relations
Fabian Kirchmann // IR.on AG // T: +49 (0) 221 9140 970 // E:
presse@ekosem-agrar.de
---------------------------------------------------------------------------
30.09.2016 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de
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Language: English
Company: Ekosem-Agrar GmbH
Johann-Jakob-Astor-Str. 49
69190 Walldorf
Germany
Phone: +49 (0)6227 358 59 33
Fax: +49 (0)6227 358 59 18
E-mail: info@ekosem-agrar.de
Internet: www.ekosem-agrar.de
ISIN: DE000A1MLSJ1, DE000A1R0RZ5
WKN: A1MLSJ, A1R0RZ
Listed: Regulated Unofficial Market in Berlin, Dusseldorf,
Hamburg, Hanover, Stuttgart (bondm); Open Market in
Frankfurt
End of News DGAP News Service
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507589 30.09.2016
million and its EBITDA forecast of roughly EUR 50 million for the full year
2016.
The 2016 interim report is available on the company's website at
www.ekosem-agrar.de/en/investor-relations/financial-publications.html.
About Ekosem-Agrar
Ekosem-Agrar GmbH Walldorf, Germany is the German holding company in the
Ekoniva Group, one of the largest Russian agricultural companies. With over
60,000 head of cattle (thereof more than 28,000 dairy cows) and an average
milk production of around 650 tons per day, the company is the largest milk
producer in the country. The group has more than 196,100 hectares of
farmland and is also one of the leading producers of seed in Russia. The
founder and managing director of the company is Stefan Dürr. He has been
active in Russian agriculture since the 1980s and has played a decisive
role in its modernization over the past two decades. In 2009, he was
awarded the German Federal Cross of Merit for his contributions to the
agricultural policy dialog between Germany and Russia. The corporate group
has about 3,850 employees at six locations in Russia and achieved a total
output of EUR 145 million and an EBIT of EUR 40 million in fiscal year
2015. For further information visit: www.ekosem-agrar.de
Contact
Irina Schwachhofer // Ekosem-Agrar GmbH // Johann-Jakob-Astor-Str. 49 //
69190 Walldorf // T: +49(0) 6227 3585 919 // E:
irina.schwachhofer@ekosem-agrar.de // www.ekosem-agrar.de
Media / Investor Relations
Fabian Kirchmann // IR.on AG // T: +49 (0) 221 9140 970 // E:
presse@ekosem-agrar.de
---------------------------------------------------------------------------
30.09.2016 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de
---------------------------------------------------------------------------
Language: English
Company: Ekosem-Agrar GmbH
Johann-Jakob-Astor-Str. 49
69190 Walldorf
Germany
Phone: +49 (0)6227 358 59 33
Fax: +49 (0)6227 358 59 18
E-mail: info@ekosem-agrar.de
Internet: www.ekosem-agrar.de
ISIN: DE000A1MLSJ1, DE000A1R0RZ5
WKN: A1MLSJ, A1R0RZ
Listed: Regulated Unofficial Market in Berlin, Dusseldorf,
Hamburg, Hanover, Stuttgart (bondm); Open Market in
Frankfurt
End of News DGAP News Service
---------------------------------------------------------------------------
507589 30.09.2016
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