Livestock update Q3 2013

Agrokultura AB (First North Stockholm: AGRA, “Agrokultura” or “the Company”), the producer of agricultural commodities  in Russia and Ukraine, reports its livestock update for Q3 2013.

During Q3 2013, the average milk production on the Company’s Russian dairy farms amounted to 42.2 tons per day, a decrease of 6.6 per cent from 45.2 tons per day in Q3 2012.

The average production per milking cow amounted to 512 litres per month in Q3 2013, an increase by 4 per cent compared to Q3 2012 (492 litres per month).

In Q3 2013, sales of livestock related produce totalled SEK 13.2 million (USD 2.0 million), a decrease by 13 per cent compared to SEK 15.2 million in the same period in 2012. Milk sales were SEK 11.2 million (USD 1.7 million) and meat sales amounted to SEK 2.0 million (USD 0.3 million). All numbers exclude VAT.

At 30 September 2013, the Company’s Russian livestock herd amounted to 6,392 animals, consisting of 2,393 milking cows, 2,864 heifers, 643 dry cows, and 492 bulls and calves, compared to 6,616 animals at the same time last year. The Company also has a small livestock herd in Ukraine, which is not included in this report.

Stephen Pickup, Managing Director, comments:

”We are now in a favourable situation where we benefit both from low input costs thanks to the increased self-sufficiency of forage crops but also from the milk prices which, at the period end, had reached the highest levels during the whole year. The outlook for profitability in the Company’s livestock business therefore is good.”

Stockholm, 22 November 2013

For additional information, please contact:
Stephen Pickup, Group Managing Director, tel: +44 782 529 4352
Kristian Shaw, Group CFO, tel: +44 782 529 4356

About Agrokultura AB (publ)

Agrokultura invests in farmland and produces agricultural commodities in Russia and Ukraine. The Group aims to generate an attractive return on invested capital by optimally utilizing its agricultural land bank through crop production, livestock and related operations. Shares in Agrokultura are listed in Sweden on the Nasdaq OMX First North exchange under the ticker AGRA and the Group’s Certified Adviser is Remium Nordic AB.