Rusagro says January–June IFRS net profit soars to 13 bln rbl

MOSCOW, Aug 7 (PRIME) -- The net profit of agricultural holding Rusagro soared to 13.191 billion rubles in January–June from 470 million rubles in the same period of 2022, as calculated under International Financial Reporting Standards (IFRS), the company said in a statement on Monday.

Revenue stood at 106.549 billion rubles decreasing by 20.681 billion rubles on the year.

Adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) amounted to 15.606 billion rubles falling by 14.228 billion rubles.

Return on EBITDA declined to 15% from 23% in the same period of 2022.

According to CEO Timur Lipatov, the company expects a positive result from its acquisition of a 50% stake in fats and oils producer NMGK Group starting from July–September.

(94.8076 rubles – U.S. $1)

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