Rusagro Group · RUS:RAGR
Rusagro — PJSC Rusagro Group — 6M 2025 Earnings Presentation
25 slides from Rusagro's earnings presentation, Aug 29, 2025
Slide 1: PJSC Rusagro Group Investors Presentation 6M 2025
AUGUST 29TH, 2025 PJSC RUSAGRO GROUP INVESTORS PRESENTATION 6M 2025
Slide 2: PJSC Rusagro Group at a Glance 2024
PJSC RUSAGRO GROUP AT A GLANCE 2024 2 Diversified Business and Vertical Integration Leading Market Positions Financial Results 2024 Agriculture Business Sugar Business № 1 № 1 340 Sugar beet Consumer margarine Sunflower oil producer • Beet sugar production and mayonnaise in Russia • Cultivation and
Slide 3: Table of Contents
TABLE OF CONTENTS 3 1 Summary Key Indicators (IFRS) 6M 2025 vs 6M 2024 4 2 Business Overview by division (IFRS) 8 3 Overview of Debt profile 15 4 Additional information 17
Slide 4: Section 1: Summary Key Indicators (IFRS) 6M 2025 vs 6M 2024
SECTION 1 SUMMARY KEY INDICATORS (IFRS) 6M 2025 VS 6M 2024
Slide 5: Key Events 6M 2025
KEY EVENTS 6M 2025 5 The upgrade of the Atkarsky oil extraction plant On April 1, 2025, the Atkarsky oil extraction plant, located in the Saratov region, was scheduled to be shut down for a large-scale modernization project. The initiative aims to enhance production efficiency and technological adva
Slide 6: Highlights 6M 2025 vs 6M 2024
HIGHLIGHTS 6M 2025 VS 6M 2024 6 +21% +22% 0 pp. +20% +15%* +0.16* 167,8 17,7 10,5% 5,2 107,9 1.92 RUB bn RUB bn adj. EBITDA RUB bn RUB bn Net Debt / Adj. Net Revenue adj. EBITDA margin Net profit Net Debt EBITDA (LTM) -19% +12% -1% -32% +26% 247 135 1,244 327 14,6 ths tn ths tn ths tn ths tn RUB bn
Slide 7: Net Revenue, Adjusted EBITDA: 6M 2025 vs 6M 2024
NET REVENUE, ADJUSTED EBITDA: 7 6M 2025 VS 6M 2024 Net Revenue increased by RUB 28 926 million (+21%): Net revenue (IFRS) 6M 2025 vs 6M 2024 RUB million • Revenue of Sugar segment decreased by RUB 4,855 million (-23%) due to the +21% decrease of production volumes caused by lower yields in the 2023/
Slide 8: Section 2: Business Overview by Division (IFRS)
SECTION 2 BUSINESS OVERVIEW BY DIVISION (IFRS) 6M 2025 VS 6M 2024
Slide 9: Sugar Key Indicators 6M 2025 vs 6M 2024 (IFRS)
SUGAR 9 KEY INDICATORS 6M 2025 VS 6M 2024 (IFRS) Adj. EBITDA 6M2024 1,128 Sales (RUB -4,855 million, -23%): • Decrease of sugar sales pursued by lower yields in the previous season corresponding to Sales — Price factor 146 lower volume of sugar beet harvested. Sales — Volume factor (5,000) Adjusted
Slide 10: Meat Key Indicators 6M 2025 vs 6M 2024 (IFRS)
MEAT 10 KEY INDICATORS 6M 2025 VS 6M 2024 (IFRS) Adj. EBITDA 6M2024 2,565 Sales (RUB +4,662 million, +21%): • An increase in market prices for meat products and liveweight pork due to market Sales — Price factor 1,739 liveweight pork shortage; • Restore of production capacity in the Primorsky cluste
Slide 11: Agriculture Key Indicators 6M 2025 vs 6M 2024 (IFRS)
AGRICULTURE 11 KEY INDICATORS 6M 2025 VS 6M 2024 (IFRS) Adj. EBITDA 6M2024 (2 193) Sales (RUB -2,515 million, -29%): • The decrease in sales volumes was mainly due to high level of opening balances at the Sales — Price factor 1 793 beginning of 2024 compared to the beginning of 2025; Sales — Volume
Slide 12: Oil & Fats Key Indicators 6M 2025 vs 6M 2024 (IFRS)
OIL & FATS 12 KEY INDICATORS 6M 2025 VS 6M 2024 (IFRS) Adj. EBITDA 6M2024 11,194 Sales (RUB +11,388 million, +13%): • Expanding exports’ share in the sales of oil and fat products, including: bulk oil, meal, Sales — Price factor 15,697 industrial fats, mayonnaise and bottled oil; • The increase was
Slide 13: Agriculture Business Overview
AGRICULTURE 13 BUSINESS OVERVIEW Agricultural works calendar for 2025* 1Q 2Q 3Q 4Q Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Winter wheat Spring wheat Sugar beet Soybean Central region Soybean Far East region Sunflower Corn Sowing Growing Harvesting (*) Average terms by crops (weighted average
Slide 14: Commodity Prices
COMMODITY PRICES 14 Sugar ISCO-Krasnodar, RUB/kg excl. VAT Sunflower meal, EXW, RUB/kg excl. VAT Source: ISCO-IKAR Source: IKAR 56.5 54.3 54.7 54.7 55.3 55.0 15.9 15.3 53.9 14.7 14.1 52.2 12.9 13.2 51.2 49.1 16.1 16.0 15.1 15.5 15.0 53.2 53.2 53.7 53.7 2024 14.0 2024 52.1 52.6 12.2 12.9 50.3 11.8 11
Slide 15: Section 3: Overview of Debt Profile
SECTION 3 OVERVIEW OF DEBT PROFILE
Slide 16: Debt Profile as of 30 June 2025
DEBT PROFILE AS OF 30 JUNE 2025 16 Debt position and liquidity management Gross debt by repayment maturity RUB million RUB million 31 December Variance 2 3-5 More than in RUB million 30 June 2025 1 year years years 5 years 2024 Units % Gross debt 169,468 160,998 8,470 5 Short-term b orrowings 103,85
Slide 17: Section 4: Additional Information
SECTION 4 ADDITIONAL INFORMATION
Slide 18: Consolidated Statement of Comprehensive Income (IFRS) Six Months Ended 30 June 2025
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (IFRS) 18 FOR THE SIX MONTHS ENDED 30 JUNE 2025 RUB million Varianсes Description 6M 2025 6M 2024 Units % Sales 167,774 138,848 28,927 21 Net gain / (loss) on revaluation of biological assets and 8,507 (336) 8,843 2,632 agricultural produce Cost of sale
Slide 19: Segment Information for the Six Months Ended June 2025
SEGMENT INFORMATION 19 FOR THE SIX MONTHS ENDED 30 JUNE 2025 RUB million GK Agro- Sugar Meat Agriculture Oil and Fat Other Elimination Total Belogorie Sales 16,524 27,277 6,101 101,141 20,019 1,720 (5,008) 167,774 Net gain / (loss) on revaluation of biological assets - 2,001 3,547 - 3,265 - (306) 8,
Slide 20: Segment Information for the Six Months Ended June 2024
SEGMENT INFORMATION 20 FOR THE SIX MONTHS ENDED 30 JUNE 2024 GK Agro- Sugar Meat Agriculture Oil and Fat Other Elimination Total Belogorie Sales 21,378 22,615 8,616 89,753 - 1,171 (4,686) 138,848 Net gain/ (loss) on revaluation of biological assets and - 17 2,964 - - - (3,317) (336) agricultural pro
Slide 21: Consolidated Statement of Cash Flows
CONSOLIDATED STATEMENT OF СASH FLOWS FOR THE SIX MONTHS ENDED 30 JUNE 2025* 21 RUB million Variance 6M 2025 6M 2024 Units % Cash flows from operating activities Profit / (loss) before income tax 4,823 6,044 (1,221) (20) Adjustments for : Depreciation and amortization 7,534 6,344 1,190 19 Interest ex
Slide 22: Consolidated Statement of Cash Flows (continued)
CONSOLIDATED STATEMENT OF СASH FLOWS 22 FOR THE SIX MONTHS ENDED 30 JUNE 2025* - CONTINUANCE RUB million Variance 6M 2025 6M 2024 Units % Cash flows from investing activities Purchases of property, plant and equipment (13,899) (11,178) (2,721) (24) Purchases of other intangible assets (155) (283) 12
Slide 23: Consolidated Statement of Financial Position (IFRS) as at 30 June 2025
CONSOLIDATED STATEMENT OF FINANCIAL POSITION (IFRS) 23 AS AT 30 JUNE 2025 RUB million 30 June 31 December Variances 2025 2024 Units % ASSETS 497,141 488,245 8,896 2 Current assets Cash and cash equivalents 27,415 33,329 (5,914) (18) Short-term investments 1,243 1,716 (474) (28) Trade and other recei
Slide 24: Consolidated Statement of Financial Position (continued)
CONSOLIDATED STATEMENT OF FINANCIAL POSITION (IFRS) 24 AS AT 30 JUNE 2025 - CONTINUANCE RUB million 30 June 31 December Variances 2025 2024 Units % LIABILITIES and EQUITY 497,141 488,245 8,896 2 Current liabilities Short-term borrowings 103,859 95,107 8,752 9 Lease liabilities 952 1,215 (263) (22) T
Slide 25: Net Finance Income/(Expense)
NET FINANCE INCOME/ (EXPENSE) 25 Comments Net finance income/ (expense) RUB million Net finance income decreased from RUB 402 Variance 6M 2025 6M 2024 million in 6M 2025 to RUB 6,904 million in 6M Units % Net interest expense (9,546) (3,458) (6,088) (176) 2025 (RUB -6,502 million decrease) due to: G