OREANDA-NEWS. ABH “Miratorg” reports the increase of IAS-based earnings per January-September 2013 by 11,8% to 38,15 compared to 34,12 bln. rubles for the same period of 2012.

Miratorg is the Russia's leading meat market operator, one of the largest vertically integrated holdings with assets in all segments of the Agribusiness sector: from crop production to retail distribution.

Company's net profit decreased 26,1% in January-September 2013 to 7,395 bln. rubles. The earnings before interest, taxes, depreciation, and amortization (EBITDA) fell to 11,4 bln. rubles or 10,4% versus the same period of 2012. EBITDA margin slumped to 29,94% against 37,35% for January-September 2012. Owners' equity in the accounting period increased by 45% to 23,8 bln. Rubles.

“Company's pig breeding business assets has reached performance target ensuring significant production growth. Due to increase in sales along with pork meat price recovery after the fall in the first half of the year the company's earnings per 9 months period exceeded USD 1,2 bln., which is 11,8% higher than January-September 2012 results. The key element of our strategy is further increase of retail products share - fresh meat in consumer package. We expect the launch of "Case-ready" plant in October 2013 to have a positive effect on financial results as our product portfolio with higher added value widens and sales grow”, - ABH “Miratorg” Vice President for Finance, Vadim Kotenko said.