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UPDATE: Cherkizovo 2012 grain results

Cherkizovo OJSC, Russia's leading integrated and diversified meat producer and largest fodder producer, has issued trade figures for the year ended 31 December 2012.

Grain division
In 2012, Cherkizovo Group’s Grain division became a strong contributor to the results for the first time. Cherkizovo Group’s Grain division has reported a 2012 crop harvest of approximately 115,000 tonnes of agricultural products. The approximate current yields per hectare are: wheat: 3.4 tonnes; barley: 3.3 tonnes; sunflower: 2.6 tonnes; and corn: 6.1 tonnes.

Sales in the Grain division in 2012 amounted to 112,414 tonnes of agricultural products, including 51,254 tonnes of wheat, 24,594 tonnes of barley, 11,990 tonnes of corn, 12,000 tonnes of sunflower.

Average prices in the Grain division in 2012 were approximately 8.28 thousand RUR/tonne ($266/tonne), price for wheat amounted to 7.12 thousand RUR/tonne ($229/tonne), price for barley amounted to 6.07 thousand  RUR/tonne ($195/tonne), price for corn amounted to 7.36 thousand  RUR/tonne ($237/tonne), price for  sunflower amounted to 18.09 thousand  RUR/tonne ($582/tonne).

The Group
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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