UPDATE: Cherkizovo 2012 pork sales up 14%
Cherkizovo OJSC, one of the top three companies serving Russia's pork market, has issued trading figures for the year ended 31 December 2012.
Sales volumes in the Pork division in 2012 increased by 14% to approximately 103,877 tonnes of live weight, compared to 91,400 tonnes in 2011.
Prices in rouble terms decreased by 4% from 80.04 RUR/kg in 2011 to 76.52 RUR/kg in 2012 (excluding VAT). Compared to the price in the third quarter of 2012, the price in the fourth quarter sharply decreased by 21% to 65.44 RUR/kg, reflecting an increased supply of live hogs to the market, and the influence of seasonal factors.
In dollar terms, prices for pork sales decreased by 10% from $2.72/kg of live weight in 2011 to $2.46/kg of live weight in 2012 (excluding VAT)*. Compared to the third quarter of 2012, the price in the fourth quarter decreased by 19% to $2.11/kg.
The Group includes 7 full cycle poultry production facilities, with a total capacity of 400,000 tonnes live weight p.a.; 14 modern pork production facilities with a total capacity of 180,000 tonnes live weight p.a.; 6 meat processing plants with a total capacity of 190,000 tons p.a.; 6 fodder plants with a total capacity of 1.4 million tonnes p.a.; grain storage facilities with a total storage capacity exceeding 500,000 tonnes; and a land bank exceeding 100,000 hectares. In 2012, Cherkizovo produced more than half a million tonnes of meat and processed meat products.
Due to its vertically integrated structure, which includes agricultural land, grain storage facilities, feed production, livestock breeding, growing and slaughtering as well as meat processing and integrated distribution, Cherkizovo has consistently delivered sustainable revenue and profit growth. In 2011, Cherkizovo’s US GAAP consolidated revenue increased 24% to $1,473 million, and net profit amounted to $135.9 million.
Within the last five years alone, Cherkizovo has invested more than $1 billion into the development of Russia’s agriculture sector. In addition to existing production facilities, the Group is also investing in a 20 billion rouble hi-technology agro-industrial production complex in Elets, Lipetsk region.
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