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Cherkizovo: FY 2009 net income $120.2 mln
Russian meat producer, Cherkizovo Group, has posted a FY 2009 net income of $120.2 million under US GAAP, reports state.
The bottom line is up from a FY 2008 net income of $78.1 million, with FY 2009 adjusted EBITDA rising 19% to $181.5 million, as dollar denominated revenues fell 12% to $1.022 billion.
Cherkizovo noted the impact of currency movements on the results, with rouble denominated revenues up 12%, rouble denominated adjusted EBITDA up 52% and rouble denominated net income up 96%.
Cherkizovo Group CEO, Sergey Mikhailov hailed the group’s performance in a difficult economy, and pointed to the completion of the Vertunovka parent stock facility at the Penza production cluster, and two major projects to increase poultry output by 40% expected to come online in 2012. He added that the poultry division had played a key role in the company’s improved results, with the pork division seeing a 38% increase in production volumes, helping to offset pressure on meat sales volumes.
“For the current year, we remain cautious about the effects of continuing pressure on Russian consumption; however, we expect the pricing environment to remain broadly favorable for Cherkizovo’s products throughout the year. Russia still remains the biggest importer of meat in the world and the Russian government is targeting a substantial reduction in imports by 2012, which presents significant opportunities for Cherkizovo as the leading domestic producer. The company will continue to leverage the benefits of improving efficiency and increasing capacity, particularly in our higher margin Pork and Poultry businesses, to take advantage of the opportunities in the market and M&A opportunities, and we remain confident that we will continue to deliver against our strategy in the course of the financial year.”
Crystal Cherkizovo played volleyball game with kids from UNITY foundation
25 may 2023
Crystal Cherkizovo played volleyball game with kids from UNITY foundation
Crystal Cherkizovo, a volleyball club whose main sponsor is Cherkizovo Group, met children with cancer supported by the UNITY charity foundation to talk about the history of volleyball and play an exhibition game.
Cherkizovo Group unveils prospects for halal product exports
23 may 2023
Cherkizovo Group unveils prospects for halal product exports
Cherkizovo Group, Russia's largest meat producer, took part in the business program of the Russia – Islamic World: KazanForum, the key platform for economic cooperation between Russia and Muslim countries. The Company shared its vision of opportunities to expand halal product exports to the CIS and beyond.
Cherkizovo Group reaffirms its leadership in Russia’s meat market
10 may 2023
Cherkizovo Group reaffirms its leadership in Russia’s meat market
Cherkizovo Group (Petelinka and Pava-Pava brands) for the eighth time topped the list of country’s largest meat producers in an annual ranking put together by Agroinvestor, a leading industry publication. In 2022, the Company accounted for around 8% of meat output in Russia.
Cherkizovo Group speeds up product delivery to China
28 april 2023
Cherkizovo Group speeds up product delivery to China
Cherkizovo Group, Russia’s largest meat producer, this week has made its first shipment of chicken products to China in refrigerated rail containers. This route will be an alternative to sea shipping, enabling the Company to deliver its products to Chinese customers three times faster, in 15 days instead of 45.
