ROS AGRO PLC ROS AGRO PLC trading update 12M and 4Q 2017
29 January 2018 - ROS AGRO PLC has announced preliminary operating results for 4Q and 12М.
12M 2017 highlights compared to 12M 2016:
Total revenue before intersegment eliminations amounted to RR 89.0 billion, a decrease of RR
7.1 billion (-7%);
Revenue of Sugar segment decreased by 19% to RR 30.3 billion due to sale price drop of 23%,
which was partially compensated by sales volume growth (+4%);
Meat segment showed upsurge in revenue of RR 20.5 billion (+15%) as the result of its strategy
to grow sales of the cuts (+64%);
Revenue of Оil & Fat and Agriculture business declined by 2% and 11% to RR 19.4 and 18.8 billion accordingly.
4Q 2017 highlights compared to 4Q 2016:
Total revenue before intersegment eliminations amounted to RR 30,527 million, a decrease of RR 6,746 million (-18%);
Due to drop in price of sugar and agriculture products, revenue of Sugar and Agriculture Business declined by 32% and 17%.
Key operational results by segment:
Item | 12M 2017 | 12M 2016 | Change, % | 4Q 2017 | 4Q 2016 | Change, % |
Sugar Business | ||||||
Revenue, million RUB | 30,276 | 37,240 | -19% | 9,284 | 13,634 | -32% |
Production volume, thousand tonnes | 984 | 810 | 22% | 637 | 572 | 11% |
beet sugar | 984 | 750 | 31% | 637 | 572 | 11% |
cane sugar | - | 59 | 0% | - | - | 0% |
Sales volume, thousand tonnes | 900 | 866 | 4% | 316 | 334 | -5% |
Average sale price, rub/kg excl. VAT | 30.6 | 39.4 | -23% | 25.9 | 35.4 | -27% |
Meat Business | ||||||
Revenue, million RUB | 20,512 | 17,851 | 15% | 5,321 | 5,359 | -1% |
Production volume, thousand tonnes | ||||||
livestock | 206 | 194 | 6% | 52 | 51 | 3% |
compound feed | 603 | 598 | 1% | 149 | 159 | -6% |
Sales volume, thousand tonnes | ||||||
livestock | 57 | 76 | -24% | 12 | 26 | -56% |
carcass | 31 | 32 | -3% | 10 | 6 | 64% |
cuts | 69 | 42 | 64% | 20 | 12 | 63% |
other pork cutting products | 13 | 6 | 102% | 4 | 2 | 51% |
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Item | 12M 2017 | 12M 2016 | Change, % | 4Q 2017 | 4Q 2016 | Change, % |
Average sale price, rub/kg excl. VAT | ||||||
livestock | 94.9 | 91.7 | 4% | 85.8 | 96.2 | -11% |
carcass | 124.9 | 125.2 | 0% | 114.9 | 127.7 | -10% |
cuts | 151.3 | 149.2 | 1% | 150.3 | 158.4 | -5% |
other pork cutting products | 51.5 | 51.2 | 1% | 55.4 | 53.9 | 3% |
Oil and Fat Business | ||||||
Revenue, million RUB | 19,431 | 19,864 | -2% | 5,214 | 5,304 | -2% |
Sales volume, thousand tonnes | ||||||
mayonnaise | 59 | 77 | -24% | 15 | 25 | -40% |
margarine | 36 | 37 | -3% | 12 | 12 | -2% |
bottled oil | 20 | 18 | 9% | 9 | 5 | 67% |
bulk oil | 150 | 116 | 29% | 31 | 26 | 18% |
meal | 253 | 200 | 27% | 70 | 59 | 19% |
Average sale price, rub/kg excl. VAT | ||||||
mayonnaise | 80.5 | 76.7 | 5% | 80.2 | 76.2 | 5% |
margarine | 78.1 | 75.6 | 3% | 79.5 | 79.2 | 0% |
bottled oil | 58.8 | 71.9 | -18% | 57.3 | 65.3 | -12% |
bulk oil | 42.2 | 53.0 | -20% | 42.6 | 48.3 | -12% |
meal | 16.0 | 18.2 | -13% | 15.4 | 18.2 | -16% |
Agriculture Business | ||||||
Revenue, million RUB | 18,768 | 21,155 | -11% | 10,709 | 12,976 | -17% |
Sales volume, thousand tonnes | ||||||
barley | 193 | 377 | -49% | 113 | 212 | -47% |
sugar beet | 3,957 | 3,798 | 4% | 2,472 | 2,889 | -14% |
wheat | 710 | 413 | 72% | 402 | 242 | 66% |
sunflower | 84 | 50 | 68% | 35 | 17 | 105% |
soybean | 169 | 182 | -7% | 118 | 101 | 17% |
corn | 105 | 91 | 15% | 30 | 41 | -27% |
other | 10 | 7 | 33% | 4 | 5 | -25% |
Average sale price, rub/kg excl. VAT | ||||||
barley | 6.2 | 7.2 | -14% | 6.1 | 7.1 | -15% |
sugar beet | 1.8 | 2.4 | -26% | 1.7 | 2.4 | -28% |
wheat | 6.1 | 7.4 | -18% | 5.8 | 6.4 | -9% |
sunflower | 17.1 | 21.7 | -21% | 19.1 | 18.1 | 6% |
soybean | 20.0 | 21.2 | -6% | 20.1 | 20.7 | -3% |
corn | 7.9 | 8.1 | -2% | 6.4 | 7.6 | -16% |
other | 5.2 | 9.4 | -45% | 6.2 | 11.1 | -44% |
Key operational results by segment - historical:
Item | 1Q 2016 | 2Q 2016 | 3Q 2016 | 4Q 2016 | 1Q 2017 | 2Q 2017 | 3Q 2017 | 4Q 2017 | 12М 2016 | 12М 2017 |
Sugar Business | ||||||||||
Revenue, million RUB Production volume, ths tonnes | 5,877 - | 9,342 65 | 8,386 173 | 13,634 572 | 7,410 122 | 7,192 15 | 6,392 211 | 9,284 637 | 37,240 810 | 30,276 984 |
Sales volume, ths tonnes | 125 | 219 | 189 | 334 | 196 | 193 | 193 | 316 | 866 | 900 |
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Item | 1Q 2016 | 2Q 2016 | 3Q 2016 | 4Q 2016 | 1Q 2017 | 2Q 2017 | 3Q 2017 | 4Q 2017 | 12М 2016 | 12М 2017 | |
Av. sugar price, rub/kg excl. VAT | 44.0 | 41.1 | 41.7 | 35.4 | 33.4 | 34.4 | 31.4 | 25.9 | 39.4 | 30.6 | |
Meat Business | |||||||||||
Revenue, million RUB | 3,615 | 4,243 | 4,635 | 5,359 | 4,732 | 5,305 | 5,154 | 5,321 | 17,851 | 20,512 | |
Sales volume, thousand tonnes | |||||||||||
livestock | 16 | 18 | 16 | 26 | 21 | 14 | 11 | 12 | 76 | 57 | |
processed pork | 21 | 20 | 23 | 22 | 23 | 30 | 30 | 35 | 86 | 118 | |
Average sale price, rub/kg excl. VAT | |||||||||||
livestock | 82.4 | 88.2 | 97.5 | 96.2 | 93.9 | 102.1 | 97.4 | 85.8 | 91.7 | 94.9 | |
processed pork | 111.7 | 123.3 | 129.8 | 130.4 | 120.1 | 130.7 | 135.9 | 124.9 | 124.1 | 127.3 | |
Oil and Fat Business | |||||||||||
Revenue, million RUB | 5,748 | 5,901 | 2,912 | 5,304 | 4,368 | 5,253 | 4,596 | 5,214 | 19,864 | 19,431 | |
Sales volume, thousand tonnes | |||||||||||
mayonnaise margarine | 14 10 | 19 7 | 20 8 | 25 12 | 16 9 | 15 7 | 13 8 | 15 12 | 77 37 | 59 36 | |
bottled oil bulk oil | 5 39 | 5 47 | 4 4 | 5 26 | 5 24 | 3 54 | 4 41 | 9 31 | 18 116 | 20 150 | |
meal | 70 | 56 | 16 | 59 | 69 | 67 | 46 | 70 | 200 | 253 | |
Average sale price, rub/kg excl. VAT | |||||||||||
mayonnaise | 75.7 | 76.9 | 77.9 | 76.2 | 77.1 | 82.3 | 83.6 | 80.2 | 76.7 | 80.5 | |
margarine | 69.4 | 73.0 | 80.0 | 79.2 | 78.1 | 77.5 | 77.3 | 79.5 | 75.6 | 78.1 | |
bottled oil | 75.6 | 70.9 | 78.8 | 65.3 | 62.1 | 57.3 | 56.3 | 57.3 | 71.9 | 58.8 | |
bulk oil | 57.8 | 51.9 | 50.1 | 48.3 | 44.2 | 40.9 | 44.4 | 42.6 | 53.0 | 42.2 | |
meal | 18.8 | 17.0 | 20.6 | 18.2 | 16.2 | 16.5 | 15.6 | 15.4 | 18.2 | 16.0 | |
Agriculture Business | |||||||||||
Revenue, million RUB | 3,362 | 1,184 | 3,632 | 12,976 | 3,670 | 1,336 | 3,054 | 10,709 | 21,155 | 18,768 | |
Sales volume, thousand tonnes | |||||||||||
barley sugar beet | 12 - | 16 - | 138 909 | 212 2,889 | 12 452 | 13 - | 55 1,033 | 113 2,472 | 377 3,798 | 193 3,957 | |
wheat | 87 | 38 | 46 | 242 | 164 | 16 | 124 | 402 | 413 | 710 | |
sunflower soybean | 33 56 | - 21 | - 3 | 17 101 | 18 31 | 31 15 | - 5 | 35 118 | 50 182 | 84 169 | |
corn | 40 | 9 | - | 41 | 38 | 33 | 3 | 30 | 91 | 105 | |
Average sale price, rub/kg excl. VAT | |||||||||||
barley sugar beet wheat | 10.4 - | 10.0 - | 7.6 2.3 | 7.1 2.4 | 7.1 2.1 | 6.6 - | 6.1 1.8 | 6.1 1.7 | 7.2 2.4 | 6.2 1.8 | |
8.9 23.6 | 8.5 - | 5.9 - | 6.4 18.1 | 7.4 16.7 | 6.8 15.1 | 5.4 - | 5.8 19.1 | 7.4 21.7 | 6.1 17.1 | ||
sunflower soybean | |||||||||||
22.4 | 20.5 | 20.0 | 20.7 | 19.9 | 18.9 | 20.5 | 20.1 | 21.2 | 20.0 | ||
corn | 8.5 | 8.6 | - | 7.6 | 9.3 | 8.1 | 5.3 | 6.4 | 8.1 | 7.9 | |
For further details, please contact:
Svetlana Kuznetsova Head of Investment Department
Tel.: +7 (495) 363-1661 E-mail:ir@rusagrogroup.ru
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Rusagro plc published this content on 29 January 2018 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 29 January 2018 09:49:01 UTC.
Original documenthttp://www.rusagrogroup.ru/fileadmin/files/reports/en/pdf/ROS_AGRO_PLC_Trading_update_12M_2017_Eng_.pdf
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