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"Russian Sea" with a decrease in sales by 1,5% increased revenue in January-September to 13,2 billion rubles
The Russian Sea group of companies, one of the largest fish companies in Russia, in January-September 2014 increased its consolidated revenue by 13,4% compared to the same period last year - up to 13,204 billion rubles, the company said.
In particular, the distribution revenue (chilled and frozen products) grew by 13,4% to RUB 13,192 billion, the aquaculture segment - 24,1 times to RUB 1,015 billion. Intragroup sales amounted to RUR 1,003 billion.
Operating gross profit "Russian Sea" in January-September showed record figures - 1,758 billion rubles with an increase of 54,8%; operating EBITDA tripled to RUB 686 million.
The sales volume for nine months in quantitative terms decreased by 1,5%, amounting to 105,3 thousand tons. At the same time, 3,7 thousand tons of fish were caught in the aquaculture segment (an increase of 14,4 times), sales of the distribution segment amounted to 105,3 thousand tons (a decrease of 1,5%).
The main negative factor for the company in the reporting period was a significant depreciation of the ruble against the main foreign currencies (dollar and euro), which led to a loss from exchange rate differences of 200 million rubles and had a negative effect on the group's net profit.
Russian Sea Group of Companies was founded in 1997 and conducts two main businesses: Russian Fish Company supplies chilled and frozen fish, Russian Sea - Aquaculture - commercial cultivation of red fish. Revenue in 2013 increased by 12,7% - up to 18,04 billion rubles.