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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 - to 13,204 billion rubles, the company said.
In particular, the revenue of the distribution area (chilled and freshly frozen products) increased by 13,4% - to 13,192 billion rubles, the segment of aquaculture - in 24,1 times, to 1,015 billion rubles. Intragroup sales amounted to 1,003 billion rubles.
Operating gross profit of "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 the nine months in the quantitative indicator 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), sales of the distribution segment amounted to 105,3 thousand tons (decrease by 1,5%).
The main negative factor for the company in the reporting period was a significant depreciation of the ruble exchange rate against major foreign currencies (dollar and euro), which resulted in a loss from exchange rate differences of 200 million rubles and had a deleveraging effect on the group's net profit.
The 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 rearing of red fish. Revenue in 2013 increased by 12,7% - up to 18,04 billion rubles.