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"Miratorg's revenue fell by 40% in 2024 due to rising costs and a decrease in meat production."
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"Miratorg's revenue fell by 40% in 2024 due to rising costs and a decrease in meat production."

Company "Miratorg" and its subsidiaries' revenue for 2024 amounted to 301.1 billion rubles, with a net profit of 32.5 billion rubles, which is 40% lower than the previous year due to the increase in financial resources and production costs. Pork production increased by 6%, poultry decreased by 7%, while beef production continues to grow. The company plans to focus on improving efficiency and strengthening production.

21 April 2025 21 April 2025

The financial statements of "Miratorg" and its subsidiaries for the year 2024 showed that the revenue amounted to 301.1 billion rubles, while the net profit reached 32.5 billion rubles. This is 40% lower than the previous year. The main reason for the decrease in net profit was the significant increase in cash and credit resources, including investment and working capital loans.

The cost of production was also influenced by the rising labor costs, which have increased by 50% over the last three years per kilogram of product. Additionally, the cost of production in the agricultural sector increased due to the expensive agricultural machinery, plant protection products, fuel, and spare parts. Furthermore, logistics costs for transporting feed, livestock, and finished products have significantly increased.

Last year, "Miratorg" increased pork production by 6%, reaching a volume of 868.8 thousand tons live weight. However, this figure is 12.4% below the plan due to the loss of pig complexes in the Kursk region. Poultry production decreased by 7% to 182 thousand tons due to a fire at a poultry complex in April 2024. The company is also a leader in beef production, with a volume of 202 thousand tons last year. However, production growth was hindered by a 55% increase in rejection due to events in the Bryansk region.

Given the high cost of credit resources and the rising prices of industrial products, raw materials, and components, opportunities for further production growth are diminishing. The company will focus its efforts on increasing operational efficiency, strengthening feed base, improving crop yields, developing and enhancing genetics in animal husbandry and breeding in crop production, as well as reducing dependence on imports. Separate funds will also be allocated to support employees and ensure the security of enterprises in regions adjacent to the Kursk, Belgorod, and Bryansk regions.

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