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# Rusagro bears losses

Publication Date: 2022-08-15T13:00:36-04:00
Last Updated: 2022-09-02T12:38:24-04:00

Author: Kirill Shakin (https://www.fertilizerdaily.com/author/shakinkirill/)

Categories: [Corporate](https://www.fertilizerdaily.com/corporate/)

![Rusagro bears losses](https://www.fertilizerdaily.com/wp-content/uploads/2022/08/desk-black-and-white-technology-white-money-market-1170475-pxhere.com_-scaled-1.jpg)

The results of the work for six months are contradictory.

Rusagro reports its 1H2022 financial results. As follows from the company’s press-release, Rusagro revenue increased by 22% to 127.23 billion rubles (over $2 billion), while its net profit decreased by 99% to 166 million rubles (almost $2.7 million). Gross debt increased by 14% to 196.641 billion rubles (approximately $3.2 billion) and net debt — by 35% to 98.973 billion rubles (about $1.6 billion).

Its marketing activity also brought contradictory results. For example, sales of wheat fell by 46% to 194 thousand tons, soybeans — by 18% to 116 thousand tons, while sugar beet rose by 100% to 59 thousand tons.

During the spring sowing season of 2022, the Rusagro areas allocated for wheat decreased by 1% to 172 thousand hectares, for corn — by 5% to 29 thousand hectares, for sunflower — by 3% to 29 thousand hectares, however, sugar beet expanded by 4% to 93 thousand hectares, soybeans — by 4% to 204 thousand hectares, barley — by 95% to 0.9 thousand hectares.

Tags: [agriculture](https://www.fertilizerdaily.com/tag/agriculture/), [Rusagro](https://www.fertilizerdaily.com/tag/rusagro/)

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