October 13,  2020

Cherkizovo announces operating results for September and third quarter of 2020

Cherkizovo Group (MOEX: GCHE) has announced on October 12 operating results for September and the third quarter of 2020. 

The highlights of the third quarter are:

Chicken - Sales volume of 175.9 thousand tonnes increased by 7% year-on-year. Sales volumes of Cherkizovo's products under the Petelinka and Chicken Kingdom brands increased by 4% year-on-year and 2% year-on-year respectively. In the third quarter, export sales continued to perform strongly, while demand from foodservice clients gradually recovered and almost reached the level of last year by the end of the quarter. Average sales price declined by 3% year-on-year.

Turkey - JV Tambov Turkey sales volume of 10.2 thousand tonnes is down 8% year-on-year, with average sales price higher by 7% year-on-year.

Pork - Production volumes of 69.8 thousand tonnes increased by 5% year-on-year and sales volume reached 68.4 thousand tonnes, up 6% year-on-year compared to 3Q19. Average sales price increased by 10% year-on-year, 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% year-on-year, as sales of the cuts increased, and sales volumes of sausages and carcasses were stable. The average sales price of the segment increased by 6%, pushed by carcass and sausages price growths of 8% year-on-year and 5% year-on-year, respectively.

Grain - Due to the seasonal nature of the business, the results of this segment are reported annually to better reflect business performance.

- Cherkizovo