Steppe: revenue up 15% in 2020
09 April 2021
Steppe Agroholding, Russia’s large-scale crop and raw milk producer, reports revenue of $423.6 million in 2020, a 15%-increase as compared to 2019. OIBDA rose 136% to $125.2 million within the same period of time. Net profit was $50.4 million in 2020. The key reasons for these indicators were, as mentioned by Steppe, business scaling, operational efficiency growth in crop segment, improvement of trading strategy, and output increase in dairy segment. Last year, Steppe expanded its farmland area from 416,000 hectares to 565,000 hectares.