The three-year development plan of the Cherkizovo group, one of the largest meat product manufacturers in Russia, assumes an average growth of turnover by 10%, in terms of EBITDA – by 11-12%, which in the coming years should allow reaching a revenue figure of 200 billion rubles. Sergei Mikhailov, CEO and co-owner of Cherkizovo, spoke about this in an interview with Kommersant.
According to him, the company will continue to focus on branded products with high added value, the share of which in revenues plans to increase from 60% to 70% or more. In addition, Cherkizovo may increase the share of foodservice sales from 5-6% to 10-15%. In particular, the group plans to expand cooperation with fast food restaurants by supplying semi-finished chicken products, beef burgers, sausages, and may also start working with pizza chains.
Cherkizovo manufactures products under the brands Cherkizovo, Petelinka, Kurinoe Tsarstvo, Pava-Pava. At the end of 2020, the group’s revenue increased by 7.2%, to 128.8 billion rubles, EBITDA – by 28.8%, to 26.6 billion rubles, net profit more than doubled, to 15.2 RUB bln Sergei Mikhailov and Chairman of the Board of Directors Evgeny Mikhailov own 28.1% of Cherkizovo shares, and Lidia Mikhailova holds 15.5%. 2.5% of securities are traded on the Moscow Exchange.
More details – in an interview with Mr. Mikhailov “Kommersant” “There is a general revision of prices” “.