In 2020, the Meat Business posted major increase in revenues (+6.6 RUB billion, or +26%) driven by higher sales of meat products against the backdrop of reaching full capacity of the pig farms built in 2019 in the Tambov Region, an increase in the productivity of slaughterhouses and deboning shops, as well as export development. Despite the rise in the price of the compound feed component of the live pork cost, profit margin improved by 1 p.p. — up to 20%, fuelling the growth of adjusted EBITDA by 34% — up to RUB 6.5 billion (+RUB 1.7 billion).
RESULTS OF RUSAGRO’S MEAT SEGMENT IN 2020
7% 104 ths sowsPig stock
26% 308 ths tonnesPork production in live weight
22% 254 ths tonnesSales volume
26% 32.4 RUB bnSales of Meat Business
34% 6.5 RUB bnAdj. EBITDA
1 p.p. 20%Adj. EBITDA margin