Cherkizovo Group reports operating results for 3Q 2020
October 19, 2020 - Cherkizovo Group, the largest vertically integrated meat producer in Russia, today announces operating results for September and the third quarter of 2020.
Third quarter 2020 highlights:
Chicken: Sales volume of 175.9 thousand tonnes increased by 7% y-o-y. Sales volumes of our products under Petelinka and Chicken Kingdom brands increased by 4% y-o-y and 2% y-o-y respectively. In the third quarter export sales continued to perform strongly, while demand from foodservice clients gradually recovered and almost reached the level of the last year by the end of the quarter. Average sales price declined by 3% y-o-y.
Turkey: JV Tambov Turkey sales volume of 10.2 thousand tonnes down 8% y-o-y, with average sales price higher by 7% y-o-y.
Pork: Production volumes of 69.8 thousand tonnes increased by 5% y-o-y, and sales volume reached 68.4 thousand tonnes, up 6% y-o-y compared to 3Q19. Average sales price increased by 10% y-o-y, as the growth of domestic production slowed down and prolonged barbeque season on the back of good weather supported demand.
Meat Processing: Sales volume increased by 4% y-o-y, as sales of the cuts increased, and sales volumes of sausages and carcasses were stable. Average sales price of the segment increased by 6%, pushed by carcass and sausages price growth of 8% y-o-y and 5% y-o-y respectively.
Grain: Due to the seasonal nature of the business, the results of this segment are reported annually to better reflect business performance.