"RusAgro" in the I half received 283 million rubles under IFRS loss against profits a year ago

The group "RusAgro", one of the largest Russian agro-holdings in the first half of 2013 was a net loss under IFRS in the amount of 283 million rubles to 1.917 billion rubles in net profit a year earlier, the company said.

revenue increased by 2 % to 14,343 billion rubles, gross profit - by 58% to 2.09 billion rubles, while reducing the margin to 15% from 36 % a year earlier . EBITDA decreased by 60 % - to 1.58 billion rubles , the margin - from 28 % to 11 %.

As reported earlier the company , in the first quarter of 2013 it received 578 million rubles of net loss . In the second quarter of the agricultural holding has received 295 million rubles of profit , which fell by 78 % compared to the same period last year. Revenues for the quarter increased by 2 % to 7,926 billion. Gross profit decreased by 56% to 1.265 billion rubles , the margin - from 37% to 16 %, the EBITDA - by 58 % to 1.04 billion rubles in the fall with a margin of 28 % to 11 %.

Proceeds from the sale of meat in the first half fell by 4%, to 2.5 billion rubles due to lower product prices, which was partially offset by an increase in sales. Revenue maslozhirovogo division decreased by 19% to 3.54 billion rubles, mainly due to the decline in sales of the Samara plant. Proceeds from sales of sugar rose by 16% to 7.37 billion rubles , revenue agropodrazdeleniya - by 12 % to 1.2 billion rubles .

As the CEO of the holding Maxim Basov, " RusAgro " expects to improve the performance of sugar , meat and fat and oil units in the third quarter due to the start of the new selhozsezona .

company's total debt to June 30 fell by 20% compared with the end of 2012 to 38.92 billion rubles, net debt - by 12 % , to 15.17 billion rubles. The ratio of net debt to EBITDA - 2,4. In the first half of the group received 763 million rubles of state subsidies .