In 2020, the Sugar Business showed a decrease in sales as a result of a reduction in sugar sales volume (-21%, or 212 thousand tonnes) due to lower sugar production resulted from poorer yield of the sugar beet in Russia; on the other hand, lower cost of goods noticeably improved the adj. EBITDA (+59%, or RUB 2.4 billion) and margin from 13 to 23%.
RESULTS OF RUSAGRO’S SUGAR BUSINESS IN 2020
-13% 764 ths tonnesSugar production volume
No. 2Sugar producer in Russia
-21% 811 ths tonnesSales of sugar
-10% 28.1 RUB bnSales
59% 6.4 RUB bnAdj. EBITDA
10 p.p. 23%Adj. EBITDA margin