Miratorg plans to increase turnover in 2015 by 1.6 times

Miratorg plans to increase turnover in 2015 by 1.6 times


Turnover Miratorg, expected to be 5-7 billion dollars, the volume of production is 1 million tons of meat a year, said the company’s President Viktor Linnik.

MOSCOW, 3 Nov. Agro-industrial holding Miratorg, one of Russia’s largest, by the end of 2015 intends to increase its turnover by 1.6 times — up to 120 billion rubles, said the company’s President Viktor Linnik.

“Last year our turnover was about 70 billion, this will be 120 billion rubles,” said Linnik in interview to the newspaper “Vedomosti”. He noted that about 10% of the total volume of Miratorg for the year will be the share of imports from abroad. To compete globally, he said, the size of the holding should be many times more.

“According to our estimates, the turnover of the company should be 5-7 billion dollars, the volume of production is 1 million tons of meat per year,” said Linnik. He also spoke about the company’s plans for the near future. According to the President of the holding company after three years, the land Bank of “Miratorg” will increase twice — to 500 thousand hectares. The company is also interested in production of lamb.

“We have already and best practices, in two-three years start line for slaughtering and processing in our factory in Bryansk. Again the question arises, what is its fill. Now engaged in the selection of genetics and working on the project for the production of mutton in the Central part of Russia”, — said the President of Miratorg.

Speaking about the possibility of the release of “Miratorg” on world capital markets, Linnik admitted such possibility. “I am confident that the company may place debt obligations abroad… If we manage to hedge the value of the Euro or the dollar and it will be cheaper then let’s go there,” he said.

The company’s President also said that “agribusiness” is in the plans output from the offshore ownership of the company. “We have such plans, after six months will be more concrete information,” said Linnik. Now the group’s parent is Cypriot “Agromir limited”, the beneficiaries of which are Viktor and Alexander Moulting.