The largest grain terminal of russian federation cut its profit in half

In January-September, the largest grain terminal in russia halved its profit. Transshipment volumes at the enterprise fell by a third.

Novorossiysk Bakery Plant  has halved its net profit compared to the same period last year, to 981.55 million rubles, reports rosZMI with reference to the company’s reporting.

The plant’s revenue decreased by 36.7% to 3.24 billion rubles. Gross profit and profit from sales fell by 1.5 times — to 1.56 billion rubles and 1.23 billion rubles, respectively.

The payables of the National Oil Company increased from 348.1 million rubles as of December 31, 2021 to 601.5 million rubles as of September 30 of the current year. Accounts receivable increased from 187.02 million rubles to 410.5 million rubles.

Since the beginning of the year, Novorossiysk Bakery Plant  has reduced the volume of grain transshipment by 29% — to 2.73 million tons, compared to the same period in 2021. The decrease in shipments is due to the introduction of quotas for the export of grain from Russia.

The main owner of the plant is United Grain Company JSC, with a 51% stake. Another major shareholder (35.36%) of the enterprise is Demetra Holding.