Net income of Damate increased by 2.5 times in 2019
Damate Group, the largest turkey producer in the country, announces financial results of 2019. The consolidated revenue of Damate Group increased by 48.8%, up to 26.3 billion rubles (according to the annual value). The holding's net profit grew 2.5 times against 2018 and amounted to 1.49 billion rubles.
In 2019, the group of companies showed steady growth in all areas - turkey production, dairy farming, milk processing.
The project for the production and processing of turkey made the main contribution to the development of new capacities. The project for expansion of capacities up to 155 thousand tons per year has reached its final stage and it is planned to be completed in 2020. In 2019, the company produced 131 thousand tons of turkey meat, occupying 45.5% of the Russian meat market.
At the end of 2019, revenue in the dairy farming segment increased by 32% due to an increase in the capacity of the largest dairy complex in Siberia up to 6 thousand heads and an increase in milk production. Last year, the gross milk yield amounted to 44 thousand tons of raw milk, and after reaching full production capacity it will be 55 thousand tons per year.
Milk processing is represented in Damate by the largest producer of dairy products in Penza region – the Penza dairy processing plant. In 2019, the company's revenue grew by 15% due to an increase in the production of dairy products up to 51 thousand tons per year. The enterprise continues the next stage of modernization, which includes update of the infrastructure sections, installation of modern technological equipment and launch of new lines.
“The financial indicators dynamics for 2019 confirms the stability of our chosen strategy aimed at improving business efficiency. This year we will continue to develop all areas of activity. Most of the company's projects will reach full capacity, so we expect stabilization of growth. Damate plans to devote more attention to the development of new areas, including the production of mutton,” said Stanislav Varich, Deputy Director of Damate Management Company for Economics and Finance.
