EkoNiva: growth plans amid legal proceedings with Rosselkhozbank
23 August 2021
EkoNiva, Russia’s largest producer of raw milk and a subsidiary of German Ekozem-Agrar, plans to produce over 1.1 million tonnes of raw milk in 2021. Last year, the company produced 925,000 tonnes of raw milk. EkoNiva reports the average daily output of 29 kg of milk per cow, as compared to the country average figure of 20 kg per cow. In H1 2021, EkoNiva’s revenue rose 32% to $285 million, while EBITDA increased 13% to $157.5 million, as compared to H1 2020.
EkoNiva has been recently also reported to face legal challenges as its major creditor Rosselkhozbank wants to take over control of the company’s dairy business due to reportedly late credit payments. EkoNiva has officially denied the recent media reports about its plans to attract external investors to address its temporary liquidity problems.