Financial Performance The Company's assets reached RUB 57 bln and equity — RUB 40 bln.
In 4 years, the growth hit quadruple digits in assets and equity.
This is secured by a strong level of sustainability: the share of own funds reached 70%.
Operational and financial performance Indicator, RUB mln 2017 2018 2019 2020 2021 2022 2023 Change 2023/2022, % Sales, t 10,037 6,500 16,967 15,509 27,865 25,570 28,206 10 Fish biomass at the end of the period, t 5,037 17,156 16,205 28,199 29,738 36,239 34,010 –6 Revenue, RUB mln 5,022 3,212 8,798 8,336 15,904 23,501 28,480 21 Adjusted EBITDA, RUB mln 2,061 974 3,432 3,375 6,755 12,932 12,865 –1 EBITDA margin, % 41 30 39 40 42 55 45 –10 p. p. NET PROFIT, RUB MLN 376 2,291 3,258 3,172 8,498 12,215 Profit from continuing operations. 15,471 27
28.5 RUB bln 21% year-on-year
Company's revenue in 2023 12.9 RUB bln
Adjusted EBITDA 15.5 RUB bln 27% year-on-year
Company's net profit in 2023 45 %
Adjusted EBITDA margin 10 %
Sales growth in 2023 The Company's revenues in 2023 grew by 21% to RUB 28.5 bln year‑on‑year on the back of sales growth of 10%. Adjusted EBITDA totalled RUB 12.9 bln (flat year‑on‑year). Adjusted EBITDA margin was 45% Net profit rose by 27% to RUB 15.5 bln Statement of financial position Indicator, RUB mln 31.12.2019 31.12.2020 31.12.2021 31.12.2022 31.12.2023 Change 2023/2022, % Non‑current assets 5,576 7,323 9,869 12,135 16,035 32 Biological assets 6,840 9,968 14,720 20,324 28,599 41 Reserves 621 930 1,657 3,366 5,370 60 Accounts receivable 632 560 1,625 2,578 2,680 4 Prepayments 233 410 587 3,686 3,006 –18 Cash 85 628 299 339 885 161 Current assets 8,460 12,553 19,018 30,538 40,751 33 BALANCE 14,036 19,875 28,887 42,673 56,786 33 Equity and provisions 9,065 11,786 18,707 27,274 39,702 46 Long‑term borrowings 1,934 1,548 4,777 8,778 3,845 –56 Non‑current liabilities 2,073 1,732 4,998 9,083 4,174 –54 Short‑term borrowings 2,190 5,174 3,529 4,945 10,638 115 Current liabilities 2,898 6,357 5,182 6,315 12,910 104 BALANCE 14,036 19,875 28,887 42,673 56,786 33 Share of own funds, % 65 59 65 64 70
The Company's net debt remains at a comfortable level 1.1x by Net debt / EBITDA Leverage Indicator, RUB mln 31.12.2019 31.12.2020 31.12.2021 31.12.2022 31.12.2023 Change 2023/2022, % Net debt 4,039 6,094 8,007 13,384 13,597 2 Net debt / adj. EBITDA 1.18 1.81 1.19 1.03 1.06 2
The Group's investment programme in 2023 amounted to RUB 5.2 billion, with over 60% of this amount representing vertical integration projects, including the build‑up of smolt facilities and the acquisition of feed production equipment.
Structure of capital investments, %
1 , 050 40‑foot containers
would be required to transport all the fish sold by the Company in 2023