Company information
Production and products
Investor Relations
Press center
All contacts
|
|
OJSC CHERKIZOVO GROUP TRADING UPDATE FOR THE FIRST NINE MONTHS OF 2009Poultry DivisionTotal sales volumes in the poultry division in the first nine months of 2009 gained 1% to approximately 138,920 tonnes compared to approximately 137,260 tonnes in the first nine months of 2008.Prices for Cherkizovo poultry sales increased by 19% from 62.03 roubles per kg in the first nine months of 2008 to 73.88 roubles per kg in the same period of 2009 (excluding VAT). As a result of the 35% depreciation of the rouble over this period, prices in dollar terms decreased by 12% from $2.58 per kg in the first nine months of 2008 to $2.27 per kg in the same period of 2009 (excluding VAT)*. Pork DivisionSales volumes in the pork division in the first nine months of 2009 increased 23% to approximately 35,570 tonnes compared to approximately 28,870 tonnes for the same period of 2008, reflecting the growing production of the new farms at Lipetsk and Tambov. In the first nine months of 2009, prices in the pork division increased in rouble terms by 14% from 66.10 roubles per kg in the first nine months of 2008 to 75.38 roubles per kg in the same period of 2009 (excluding VAT). In dollar terms, prices decreased by 16% from $2.75 per kg of live weight in the first nine months of 2008 to $2.32 per kg of live weight in the same period of 2009 (excluding VAT)*. Meat Processing DivisionIn the meat processing division, the Company continued to see decreased sales volumes of lower-priced products, and this, together with lower consumption in the regions of Russia due to the challenging economic environment, affected the performance of the division. Sales volumes decreased by 13% to approximately 95,370 tonnes in the first nine months of 2009 from approximately 110,200 tonnes in the first nine months of 2008. Average prices increased by 13% from 99.65 roubles in the first nine months of 2008 to 112.75 roubles in the same period of 2009 (excluding VAT). Segment prices in dollar terms decreased 16% from $4.14 in the first nine months of 2008 to $3.47 in the same period of 2009 (excluding VAT)*. Commenting on the performance, Sergey Mikhailov, CEO of Cherkizovo Group said: "While the current economic environment continues to exert a somewhat negative influence on consumption patterns, our performance reflects the impact of favorable rouble pricing and continued sales momentum. The Group continues to invest in operational capacity and efficiency improvements and expects further volume gains in its pork segment. The management remains optimistic about the outlook for the final quarter of the year." For price calculation in dollar terms the Company used the average exchange rate for 9M2009 of 32.4814 roubles per 1 US dollar, for 9M2008 the average rate was 24.0454 roubles per 1 US dollar.
|
|
|
|
|
