Ekosem-Agrar AG publishes operational information for the first nine months of 2023

Ekosem-Agrar AG publishes operational information for the first nine months of 2023

3 November 2023 Corporate News

  • Increase in raw milk production by 5% to more than 936,000 tons can only partially compensate for declining milk prices
  • Milk processing segment increases production by 77% to about 199,800 tons
  • Harvesting operations in progress

Walldorf, 3 November 2023 – Ekosem-Agrar AG, the German holding company of Russian milk producer EkoNiva Group, has recorded a stable operational development in the first nine months of 2023. The company produced a total of more than 936,000 tons of raw milk from January to September – an increase of 5% compared to the same period last year. The average daily milk output in the reporting period was 3,429 tons (previous year: 3,252 tons). The increase in raw milk production continues to be particularly due to the growth in daily output per dairy cow, which rose to 30.5 kg in the first nine months of 2023 (previous year: 29.4 kg). Through increased raw milk production, the Ekosem-Agrar Group was only able to partially compensate for the continuing decline in milk prices. At the same time, increased costs for raw milk production were also recorded in the first nine months of 2023. The average number of cattle from January to September was 234,900 (previous year: 221,400 cattle), including 112,400 dairy cows (previous year: 110,700 dairy cows).

In the milk processing segment, the production of finished dairy products increased by around 77% to about 199,800 tons. Of this, fresh milk and traditional dairy products continued to account for the largest share at 189,400 tons. The production of yoghurt and dessert products (including ice cream) increased by 59 % to about 4,600 tons. Cheese production also increased strongly to 5,800 tons (previous year: 850 tons). The product range under the EkoNiva brand was expanded in the first nine months of 2023 to now 94 products. The company is also continuously expanding the distribution channels for its dairy products. The total number of retail outlets selling Ekosem-Agrar Group products now stands at 56,400, up from 39,300 at the end of 2022.

In the crop farming segment, the Group's harvesting operations are still in progress in several regions. Overall, the Group aims to produce more than 2 million tons of cash crops and dry matter feed by the end of the year, as in the previous year.

About Ekosem-Agrar

Ekosem-Agrar AG, Walldorf, is the German holding company of the Ekoniva Group, one of Russia’s largest agricultural companies. With a herd of more than 223,000 cattle (including over 112,000 dairy cows) and a milk output of 3,400 tons of raw milk per day, the company is the country's largest milk producer. The group controls an agricultural area of approximately 630,000 hectares and is also one of Russia's leading seed producers. The founder and CEO of the company is Stefan Dürr, who has been active in Russian agriculture since the late 1980s and has played a key role in its modernization over the past three decades. In 2009, he was awarded the Federal Cross of Merit for his services to the German-Russian agricultural dialogue. The group of companies has around 12,000 employees in nine administrative regions in Russia. Ekosem-Agrar generated a total output of EUR 657 million and EBITDA of EUR 188 million in fiscal 2021.

Ekosem-Agrar Contact

Irina Makey // Ekosem-Agrar AG // Johann-Jakob-Astor-Str. 49 // 69190 Walldorf // T: +49 (0) 6227 3585 919 // E: irina.makey@ekosem-agrar.de

Press / Investor Relations

Fabian Kirchmann, Jonas Schneider // IR.on AG // T: +49 (0) 221 9140 970 // E: presse@ekosem-agrar.de