January 18, 2021

Cherkizovo announces operating results for December, fourth quarter, entire year for 2020

Cherkizovo Group has announced its operating results for December and the fourth quarter and the entire 2020. 

Cherkizovo's fourth quarter 2020 highlights are as followed:

- Chicken: Sales volume of 176.2 thousand tonnes was in line with the fourth quarter of 2019 and previous quarter results. Average sales price increased by 4% year-on-year and 5% quarter-on-quarter.

- Turkey: Sales volumes of Cherkizovo's JV Tambov Turkey stood at 11.3 thousand tonnes, a 1% increase year-on-year and 11% compared to the previous quarter. Average sales price declined 3% year-on-year and increased by 1% quarter-on-quarter.

- Pork: Sales volume declined by 5% year-on-year and increased by 11% quarter-on-quarter. Average sales price increased by 19% year-on-year and fell by 8% quarter-on-quarter, as domestic pork inched higher, imports declined to negligible levels and demand from local and export customers supporting prices which increased by 19% year-on-year.

- Meat Processing: Sales volume growth of 5% year-on-year and 6% quarter-on-quarter was driven by the broadened distribution of the sausage products. Average sales price increase of 7% year-on-year is attributed to the higher prices of sausages and carcasses.

- Grain (annual results): Harvest of 797 thousand tonnes increased by 34% year-on-year with sales adding 27% year-on-year. Optimised crop rotation focusing on wheat, corn and soybeans, coupled with higher yields achieved, are the significant drivers for better results than last year.

- Cherkizovo