Rusagro

The Russian agricultural and food company Rusagro has been operating since 1995. It was founded by entrepreneur Vadim Moshkovic.

Board of Directors

Main article: Rusagro Board of Directors

Aktivs

According to data for 2021, the holding's equity is 126 billion rubles, assets are estimated at 276 billion rubles.

For 2017, the company works in the field of sugar production, pork production, crop production and fat and fat business.

The main assets of the Rusagro group of companies are located in the Belgorod, Tambov, Sverdlovsk, Voronezh, Samara, Kursk and Oryol regions, as well as in the Primorsky Territory, which ensures regional business diversification. The headquarters of the holding is located in Moscow.

In 2017, the company sells products in more than 80 regions of Russia and in more than 15 countries of the world.

Subsidiaries (as of 2012):

• "Stoilenskaya Niva,"
• Valuikisakhar OJSC,
• Zherdevsky OJSC,
• Znamensky OJSC,
• OJSC Nika,
• Rzhevsky Sakharnik OJSC,
• OAO Zhirovaya Kombinat,
• Belgorod Bacon OJSC,
• Bezenchuk Oil Extraction Plant

In 2012, Rusagro was present in the 4 largest sectors of the Russian agro-industrial complex:

Sugar direction

• Rusagro is the largest sugar producer in Russia. Rusagro's sugar business includes 7 sugar factories in the Belgorod and Tambov regions, with a total production capacity of 3.784 thousand tons of sugar beets and 1,043 thousand tons of raw sugar;
• Rusagro ranks 1st in the lump sugar market, 34% in terms of sales according to the retail audit of AC Nielsen (24 cities, 2010);

It has a national distribution network.

Agricultural direction

The company's land bank in 2016 grew to 670 thousand hectares from 594 thousand hectares in 2015.

For 2012, the direction managed the following assets:

• Rusagro is one of the largest and fastest growing agricultural companies in Russia;
• The total land fund of the company is 374.674 hectares, including 334, 613 hectares of cultivated land;
• The total capacity of the elevators is 285,000 tons;
• The company is engaged in the production of sugar beets, barley, wheat, sunflower, soybeans.

Oil and Oil Direction

Main article: "Rusagro Oil"

• The company is one of the 5 largest manufacturers of mayonnaise and margarine
• The Fat Mill's production capacity is 60 thousand tons of mayonnaise, 35 thousand tons of margarine, 2500 tons of bottled vegetable oil, more than 2000 tons of ketchup and other products;
• The company is the leader in the supply of packaged margarine to the markets of Central Asia.

Meat direction

• Rusagro ranks 5th among Russian pig farms;
• The annual production capacity is 60 thousand tons (live weight);
• Production efficiency is achieved through the use of its own feed base and synergy with the grain business;

Digitalization

Main article: Information technology in Rusagro

Performance indicators

2023: Revenue growth by 20% to RUB 310.22 billion

In 2023, the Rusagro group raised 310.22 billion rubles, which is 20% more than a year earlier. Sales were in a record for the company, which it reported in the statements published on January 29, 2023.

From the materials of Rusagro, it follows that the group's annual revenue significantly increased due to a significant increase in sales volumes in the agricultural and sugar segments and the consolidation of the results of the NMZHK group for the second half of 2023.

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Rusagro

According to Rusagro's own data, in 2023 the grain group's sales grew by 17% compared to 2022, to 1.1 million tons, sugar beets - by 66%, to 3.2 million tons, oilseeds - by 280%, to 649 thousand tons.

In 2023, Rusagro produced a total of 717 thousand tons of raw vegetable oil, which is 12% more than in 2022. The volume of sales of industrial products in 2023 amounted to 1.4 million tons, which is 12% higher than 2022. Sales of raw oil increased by 14%, sales of meal - by 9%, industrial fats - by 17%.

It is also reported that at the end of 2023, Rusagro produced 928 thousand tons of sugar, which is 20% higher than a year ago. "The increase in the indicator is due to both the earlier launch of factories and the improvement in the rhythm of beet processing and increased production efficiency in the 2023-2024 season," the group said in a statement.

In 2023, compared to the previous year, the company's sugar sales increased by 25%, to 1.1 million tons. Positive dynamics is associated with an increase in production volumes and an increase in sales for export, added to Rusagro.

By the end of 2023, the Rusagro land bank includes 668 thousand hectares. The company supplies products to 80 regions of Russia and 49 countries of the world.

OPERATING RESULTS FOR Q4 AND 12 MES. 2023

2022: Revenue growth by 6% to RUB 258.58 billion

Rusagro's revenue for 2022 increased by 6% compared to 2021 and reached 258.58 billion rubles. The agricultural holding announced this in its reports published at the end of January 2023.

In 2022, Rusagro produced 336 thousand tons of live-weight pork for slaughter, which is 9% (+ 27 thousand tons) more than in 2021. The growth of the indicator is due to the gradual release of production facilities in the Primorsky Territory to the planned level.

In 2022, Rusagro produced 770 thousand tons of sugar, which is 3% (-21 thousand tons) less than was produced a year earlier. The decrease in the indicator was the result of the extension of the season for the supply of beets and the operation of factories, but was partially offset by an increase in sugar output at desegregation stations due to an increase in load and increased.

In 2022, compared to 2021, sales of pork products increased by 13% (+ 32 thousand tons) - to 281 thousand tons. At the same time, among all categories of products, the sale of lump meat increased the most. Positive dynamics was achieved due to the successful launch of production in the Primorsky Territory.

Rusagro sugar sales in 2022 increased by 11% (+ 81 thousand tons) - up to 850 thousand tons. The positive dynamics is associated with the growth of moving balances from 2021 and a higher rate of sugar sales in 2022. Sugar beet harvest in the season2021/2022 compared to the 2020/2021 season increased due to an increase in yield per hectare.

In 2022, Rusagro produced 640 thousand tons of raw vegetable oil, which is 4% (- 30 thousand tons) less than the level of 2021. Negative dynamics is due to the late start of the season, increased moisture of the seed with lower oiliness. The volume of grain sales in 2022 increased by 16%, to 984 thousand tons.OPERATING RESULTS FOR Q4 AND 12 MES. 2022

2021: Revenue growth by 39%, to 243.09 billion rubles

In 2021, the Rusagro agricultural holding raised 243.09 billion rubles, which is 39% more than a year earlier. Revenues of the fat and fat segment during this time rose by 57%, to 125.26 billion rubles, and sales in the meat market increased by 22%, to 39.63 billion rubles. The statements were published on January 31, 2022.

Rusagro cites data according to which in 2021 the group's revenue from sugar business amounted to 36.33 billion rubles, which is 29% higher than a year ago. The revenue of the agricultural segment reached 41.88 billion rubles (+ 22% by 2020).

The agricultural segment accounted for 17% of the company's revenue, the meat segment - 16%, the sugar segment - 15%. The largest business is still associated with the fat and oil industry - its share in the revenue structure of Rusagro in 2021 amounted to 52%.

In the season 2021-2022 of the agricultural year, Rusagro collected 872 thousand tons of grain (-27% compared to the previous season). The company ceased to disclose in the report the increase in the price of sales of products. Thus, in the last quarter of last year, the company produced 12% less crude oil, the sales volume of the segment also decreased, while revenue increased by 24%.

After the publication of the statements, Rusagro shares rose in price during trading on January 31, 2021, at the maximum quotes soared by 4.5% and at the moment amounted to 1122.8 rubles for a global depositary receipt (GDR). As of 11:35 Moscow time, the GDRs of the company adjusted to 1112 rubles apiece, showing an increase of 3.5%. This is evidenced by the data of the Moscow Exchange.

By June 30, 2021, Rusagro's net debt amounted to 66.84 billion rubles, which at that time corresponded to $924 million. Data at the end of 2021 in the reports published at the end of January 2022 are not given.^[1]

History

2024

Purchase of Saratov electronics factory "Tantal" for ₽351,6 million

On October 29, 2024, tenders for the sale of the property complex of PJSC Tantal, a well-known enterprise in the field of electronics, ended in Saratov. The plant, which has been in bankruptcy since 2018, was sold for ₽351,6 million. The winner of the auction was Rusagro-Saratov LLC, which was the only one to apply for participation in the auction. Read more here.

Rusagro became the owner of 47.5% of Agro-Belogorye agricultural holding

On September 30, 2024, it became known that the Rusagro agricultural holding increased its share in the Agro-Belogorye Belgorod group of companies (GC) from 22.5% to 47.5%. Corresponding changes were made to the Unified State Register of Legal Entities. Read more here

The court selected the rights of the Cypriot holding in Rusagro

In early September 2024, the Arbitration Court of the Moscow Region satisfied the demand of the Ministry of Agriculture to suspend the corporate rights of the Cypriot Ros Agro Plc in relation to its subsidiary, Rusagro Group PJSC. The meeting was held behind closed doors. Details of the ministry's demands are unknown.

It is known that the Ministry of Agriculture acts as a plaintiff in cases of suspension of corporate rights of foreign shareholders of Russian firms from the list of economically significant organizations (Rusagro was included in it in July 2024).

The head of Rusagro Timur Lipatov bought a stake in the company

CEO of Rusagro and member of the board of directors of Ros Agro Plc (the head structure of the group, registered in Cyprus) Timur Lipatov bought a stake in the company. The press service of the group announced this on June 25, 2024.

As a result of the transaction, its stake in the company amounted to 0.119% (excluding treasury shares). Thus, Lipatov owns 160,419 GDR Ros Agro (0.119% in the equivalent of GDR), Rusagro said in a statement.

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Rusagro

As Interfax notes on June 25, 20254, the authorized capital of the company is divided into 27 million 333 thousand 333 shares, one share is equal to five GDR. The main shareholder is the family of its founder Vadim Moshkovich (49%). The ex-general director of the group, Maxim Basov, owns 8% of the shares.

Rusagro is one of the leading agricultural holdings of the Russian Federation. It occupies the first place in the production of sunflower oil and margarine, the second - in the production of sugar and industrial fats, the third - pork.

Rusagro assets are located in 15 regions of the Russian Federation, including in, Belgorod,, Tambovskaya,, Voronezh,, Kurskaya Orlovskaya Sverdlovsk Samara Orenburg regions, etc. Primorsky Territory The land bank is 685 thousand hectares (by the end of June 2024). ROS AGRO^[2]

2023: Rusagro bought 50% of NMZHK Group of Companies

On June 27, 2023, it became known that the Rusagro group of companies, a large producer of fat and fat products in Russia, entered into an agreement on obtaining control in the NMZHK Group of Companies, which includes two oil and oil plants in Nizhny Novgorod and Samara, oil extraction plants in Uryupinsk and Sorochinsk, as well as elevators. Read more here.

2022: Rusagro bought South Siberia for 2.4 billion rubles

On May 6, 2022, the Federal Antimonopoly Service (FAS) announced the approval of the deal to sell South Siberia to Rusagro. This deal, according to the regulator, will not lead to limited competition in the markets for storing grain and sunflower oil. Read more here.

2021

Timur Lipatov - the new general director of Rusagro

On November 25, 2021, Rusagro announced the appointment of Timur Lipatov as the new general director instead of Maxim Basov, who will officially resign in a little more than a month - December 31. Read more here.

The head of Rusagro Maxim Basov leaves the company to engage in agrotech projects

On November 15, 2021, Rusagro announced the departure of Maxim Basov from the post of general director of the group. At the same time, he will remain a shareholder and member of the board of directors of the agricultural holding. Read more here.

Selling the latest cow's milk farm

Rusagro got rid of the dairy business, which the group announced on October 19, 2021. The company sold the last cow's milk farm - it is located in the Belgorod region. The buyer of this asset has not been named.

As noted by the Interfax agency, back in August 2021, Rusagro CEO Maxim Basov spoke about the company's skeptical position to the prospects of the dairy industry and its readiness to sell its only dairy farm.

The Group began to develop the business direction "dairy products" for the production of cheese and oil in 2018, then leasing the Koshkinsky Oil and Vegetable Plant in the Samara Region and the Zavolzhsky Dairy Plant in the Ulyanovsk Region. Subsequently, these enterprises were merged into Rusagro Dairy Products LLC, which in 2021 became part of the fat and oil division.

Rusagro sold the dairy business

At the end of 2020, the revenue of the dairy business at Rusagro decreased by 2% compared to 2019 and amounted to 3.8 billion rubles. The total revenue of the group amounted to 159 billion rubles.

During the year, Rusagro processed 94.4 thousand tons of raw milk. Her production range by October 2021 includes cheese and cheese products, butter and spreads, cream and dry blends.

The company wanted to become one of the three largest cheese producers in Russia, but then adjusted the strategy in the dairy industry and decided to concentrate on the production of plant replacement milk. By October 2021, Rusagro purchases milk from farms in the Ulyanovsk and Samara regions, as well as in Tatarstan.

Rusagro is one of the largest producers of sugar, pork and fat and fat products on the Russian market, the group sells it in more than 80 regions of the Russian Federation and 35 countries of the world.^[3]

Rusagro has created a software development company

On August 9, 2021, it became known about the creation by the Rusagro group of a subsidiary that will be engaged in software development. We are talking about the Rusagro Tech company, the data on which are posted in the SPARK-Interfax system. Read more here.

Rusagro will pay more than $165 million in dividends for 2020

As it became known to the Meta.ru, at the meeting of shareholders of the Rusagro agricultural holding in April 2021, the results for the year were summed up and the payment of dividends on the results of the company's activities in 2020 was discussed. An amount of $165.5 million was approved.

The documents of the agricultural holding indicate that part of this amount (25.5 million) was paid at the end of the calendar year. Almost 140 million more Rusagro will have to be paid.

In this case, the amount is indicated in US dollars. The payment will be made at the rate that the Bank of Russia will set at the date of the transfer of funds. Rusagro will direct $5.20 per share or $1.04 per GDR (global depositary receipts). The date of closing the register in the documents is 16.04.2021.

2018: Rusagro acquires the right to purchase Solar Products

In October 2018, it became known that Vadim Moshkovich's Rusagro group would gain control over the Solar Products holding (part of Vladislav Burov's Bouquet Group). According to a press release from Rusagro, Ros Agro Plc. acquires the right to purchase a controlling stake in Quartlink Holding Limited, which owns the Solar Products holding. Read more here.

2010: Group Education

OJSC Rusagro Group was established on February 19, 2010 with 99.99% stake in Rusagro Group of Companies LLC.

Rusagro Group of Companies LLC was established on February 3, 2003 and today owns all the assets of the group. Operating activities are carried out by subsidiaries.

Shareholders of the company began to engage in food in 1995 with the supply of Ukrainian sugar to Russian confectioners. The company soon began importing and processing raw material.

To improve supply stability, the company acquired 7 sugar plants (2 of which were later sold) and agricultural land in 1997-2003 to provide sugar beet plants. At the same time, the company began production of vegetable oil and fat products in Yekaterinburg, Krasnodar Territory and Voronezh Region and launched its first retail brand "Chaikofsky."

Since 2006, the Group has continued to strengthen and expand its main areas, focusing on the development of sugar and agricultural business areas. During this period, agricultural operations in the Belgorod, Tambov and Voronezh regions were expanded and the fat and fat business in central and southern Russia was sold.

In 2007, the construction of a pig breeding complex in Belgorod began, completed in 2009.

In 2009, 2 sugar factories were acquired in the Belgorod and Tambov regions.

In 2010, the construction of a pig breeding complex in the Tambov Region began and the land bank was increased to 380 thousand hectares of land. At this time, the Rusagro agro-industrial holding combines seven sugar factories in the Tambov and Belgorod regions, a fat factory in Yekaterinburg, Belgorod Bacon OJSC, agricultural enterprises, elevators, 36 agricultural enterprises, 8 regional trading branches, a number of operating companies and a management company in Moscow.

In 2011, 75% of the shares of the oil production plant in the Samara region were acquired and the design of a pig breeding complex in the Chelyabinsk region began.

Notes