FES-Agro announces financial results for nine-months of 2020

FES-Agro announces financial results for nine-months of 2020

03/11/2020

FES-Agro announces financial results for nine-months of 2020

FES-Agro announces financial results for nine months of 2020

The revenue for the first nine months of 2020 amounted to RUB 7 016. 2 million. It increases by 16.8% compared to the same period last year. Net profit amounted to RUB 208.7 million.

November 03, 2020, Stavropol – FES-Agro LLC presented its RAS financial results for nine months of 2020:

  • Revenue increased by 16.8% to RUB 7 016. 2 million. According to the results of the same period of 2019, RUB 6 006. 2 million;
  • Gross profit increased by 4.8% to RUB 569.8 million. According to the results of the same period of 2019, RUB 543.8 million;
  • Net profit decreased by 9.4% and amounted to RUB 208.7 million. According to the results of the same period of 2019, 230.4 million rubles.;
  • EBITDA decreased by 17.7% to RUB 303.5 million. For the same period in 2019, RUB 368.9 million;
  • EBITDA margin at the end of the reporting period was 4.3%. It compared to 6.1% for the same period in 2019.
"I am pleased to report that the next quarter was a successful one for the Company. We continue to increase sales and gross profit, showing growth in comparison with the previous year. Unfortunately, the volatility of the currency exchange rate, the increase in tariffs for cargo transportation, and the cost of providing the necessary working conditions during the pandemic led to additional financial costs. It affected net profit negatively," says Alexander Mikhailov, President of FES–Agro LLC.
In general, I want to note that the season ends quite optimistically. FES-Agro is a federal player. We have a wide geographical presence. In some regions, agricultural producers faced severe problems and did not get a harvest. But in other areas, farmers got the record harvest of crops. The developed branch network allows FES-Agro to balance the risks associated with unfavorable weather conditions for farmers.
Despite the unstable economy and all the difficulties the market and the global community face, FES-Agro maintains a stable financial position. We fulfill its obligations to partners, bondholders, and employees of the Company."

Thus, on October 15, 2020, the second repayment of part of the nominal value of exchange-traded bonds and the next payment of coupon income to FES-Agro bondholders took place. The next one will take place on January 14, 2021.

The financial statements are disclosed on https://www.e-disclosure.ru/portal/company.aspx?id=37730 Or visit page Investors: https://fes-agro.ru/en/investors





For more information:

Irina Sidorenko

+7(8652)30-25-25 ext. 1011 

sidorenko@fes-agro.ru

FES-Agro announces financial results for nine-months of 2020