Kuban Agro holding company, one of Russia’s largest agribusinesses and part of Basic Element industrial group, announces full year production and financial results for 2015, noting a record 79.4% rise in net profit year-on-year.
Basic Element, one of the largest industrial diversified groups in Russia, opened a 900-hectare Kuban Industrial Park in southern city of Ust-Labinsk where the group’s major agricultural assets are located. The first privately-held cluster is tailored for over 20 residents.
Kuban Agro and Maïsadour Semences, a leader in seed hybrids production in Europe, signed a letter of intent to launch a joint partnership in seed business. The plan is to merge scientific selection in the field of corn, sunflower, rape selection, as well as to assemble their production assets in Russia for the future positioning on the market and distribution.
Kuban Agro is recognized as one of the leading agricultural companies of Russia on financial performance. In the ranking, prepared by audit and consulting company BEFL, AgroHolding "Kuban" took 15th place in terms of revenue for the work in 2014 and the 7th place on the profitability of EBIDTA.