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2025: Revenue decline 67% to ₽98,6 bn

The revenue of Native Fields, one of the five largest Russian grain exporters, in 2024 decreased by 67% and amounted to ₽98,6 billion against ₽299,5 billion a year earlier in 2023. Net profit decreased by 4.3 times - to ₽5,6 billion. The company's financial results are published in the accounts for 2024.

The main reason for the sharp drop in financial indicators was the suspension of the purchase and export of agricultural products due to the claims of the Rosselkhoznadzor. For most of 2024, the company generated income mainly through the provision of services under freight and transshipment contracts.

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Фото: Freepik

A significant decrease in business activity led to a reduction in the number of employees. The number of employees of the company decreased 1.6 times - from 744 to 470 people during the reporting period.

The financial report "Native Fields" states that after the introduction of interim measures within the framework of a legal dispute initiated by the Prosecutor General's Office of Russia on the nationalization of the company at the end of December 2024, the organization's activities were completely paralyzed.

The trial ended on January 31, 2025, when the first court satisfied the claim of the Prosecutor General's Office. In early February, 100% of the shares of Native Fields LLC were transferred to the ownership of the Federal Property Management Agency. The founder of the company, Pyotr Khodykin, announced his intention to challenge this court decision.

Back in the 2022/2023 agricultural season, the RIF Trading House held a leading position in the ranking of the largest domestic grain exporters with a share of 17.6% in the total volume of Russian exports. The company has held the championship in grain exports since at least the 2016/2017 season.

The assets of Native Fields LLC include a port in Azov with a transshipment capacity of 7 million tons per year, 17 river-sea class vessels and more than 1,500 hopper wagons for grain transportation. In 2023, the company demonstrated record financial indicators: revenue grew 1.6 times - to ₽299,5 billion, and net profit increased 5.5 times, reaching ₽24,8 billion.^[1]

History

2025: Nationalization of the company

On January 31, 2025, the Arbitration Court of the Rostov Region satisfied the claim of the Prosecutor General's Office to transfer 100% of the shares of Native Fields, one of the five largest Russian grain exporters, to the state because of the beneficiary's citizenship of St. Kitts and Nevis.

According to RBC, the basis for the decision was the lack of a special government permit for the participation of a foreign resident in the activities of a strategic enterprise that controls more than 20% of the grain transshipment market in the seaport of Azov.

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Фото: Freepik

The owner of the company, Pyotr Khodykin, according to the prosecutor's office, created a combined closed unit investment fund "Logistic," where he transferred 100% of the grain trader's shares, but actually continued to influence the economic activities of the enterprise.

The company's assets include 11 sea vessels, railway rolling stock, a freight terminal and more than 200 related infrastructure facilities. All movable and immovable property was seized.

The company, founded in 2010 as the Reef Trading House, changed its name to Native Fields in April 2024. According to the federal center "Agroexport," in 2024 the company exported 3.2 million tons of grain, taking fifth place among Russian exporters.

In 2024, the company faced export problems due to delays in the issuance of phytosanitary certificates, which led to the downtime of loaded ships in ports. Management linked these difficulties to pressure from competitors.

Representatives of "Native Fields" dispute the attribution of the company to strategic enterprises, estimating their actual market share at 18%. The beneficiary of the company announced its intention to determine further actions after reviewing the court's decision.

In December 2024, the Prosecutor General's Office initiated the process of transferring the company to public ownership, which ended with a positive court decision in January 2025.^[2]

Notes