Milfoods

Performance indicators

2023: Revenue reduction by 16.3% to RUB 3.6 billion

The Russian coffee producer Milfoods (Poetti brand, a former subsidiary of the Finnish Paulig that left the Russian Federation) at the end of 2023 raised 3.6 billion rubles, which is 16.3% less than a year earlier, when revenue was measured 4.3 billion rubles. Net losses in 2023 amounted to 339.3 million rubles against 368.7 million rubles of net profit received in 2022. Such figures are given in the reporting under RAS, which was published in early April 2024.

As Interfax notes with reference to Milfoods documents, in 2021 the company had losses, and in 2020 - a net profit of 2.5 million rubles. The loss from sales in 2023 reached 295.7 million rubles against a profit of 601.4 million rubles a year earlier.

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From the financial statements of Milfoods "it also follows that in 2023 the company spent 19.14 million rubles on innovations and modernization of production against 56.19 million rubles in 2022. Advertising expenses and other forms of product promotion increased to 355.39 million rubles from 186.03 million rubles, respectively.

As of the end of 2023, the Milfoods coffee and cooking enterprise is located in the Tver region, the plant has been operating for 10 years. The capacity of this enterprise is designed for the production of over 25 thousand tons of coffee per year.

Milfoods is also going to increase production: produce not only grain and ground coffee, but also launch a line of instant coffee. The planned volume of investments is at least 135 million rubles.^[1]

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