Sodrugestvo Group reports its semi-annual results

23 March 2010

For the six-months to 31 December 2009, the Sodrugestvo Group continued the trend which it established during the year ending 30 June 2009. It recorded sales of 684,000 tons, increasing by 6% compared to the same period of the previous year...

SVETLIY, MARCH 22, 2010

SODRUGESTVO GROUP REPORTS
ITS SEMI-ANNUAL RESULTS


For the six-months to 31 December 2009, the Sodrugestvo Group continued the trend which it established during the year ending 30 June 2009. It recorded sales of 684,000 tons, increasing by 6% compared to the same period of the previous year.

Total revenues for the six months were USD 446.6 million, and the operating profit USD 27.5 million. In the meantime, the Group has considerably strengthened its balance sheet in particular by refinancing its Rouble bonds (2,500 million Roubles due in October 2009) with a five-year facility provided by VTB North-West.

Thanks to the efforts of the Russian Government to support the meat production sector, Sodrugestvo customers have shown an improving financial health and demand for Sodrugestvo products should continue on the same trend for the foreseeable future.

Sodrugestvo (www.sodrugestvo.com) has been founded in 1994 and is focused on servicing the agricultural markets through specialized infrastructures, dedicated logistics, processing facilities and trading and distribution of selected commodities. Sodrugestvo has its head office and its largest facility in the Kaliningrad Oblast of Russia. With 18 locations in 7 countries, Sodrugestvo has more than 1,000 collaborators. In 2009, Sodrugestvo has crushed more than 1.1 million tons of soybeans and rapeseed, becoming a leading player in Northern, Central and Eastern Europe. Consolidated sales for the year ending June 30th 2009 have reached $845 mil., confirming an average annual growth of 15% or more for the last ten years. Sodrugestvo is privately held.

Additional Information: Vitaly Verigo + 7 4012 30 55 00 or e-mail: v.verigo@sodru.com

Download in PDF