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Cherkizovo: net profit up 30% in H1 2021

26 August 2021

Cherkizovo, Russia’s large-scale meat producer, reported net profit of $93.1 million in the first half of 2021 (H1 2021), a 30.7%-increase as compared to H1 2020. The company’s revenue rose 30.8% to $537.3 million within the same period. Adjusted EBITDA increased 21.2% to $87.7 million, while EBITDA margin decreased from 17.5% to 16.3%. Cherkizovo raised its capital expenditures 76.9% to $104 million in H1 2021, as compared to the same period last year. Meanwhile, the company increased the sales volumes of broiler meat 4.9% to 359,700 tonnes, and the average selling price for this kind of product grew 23.9% to $1.75 per kilo in the reporting period.

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