MOSCOW, March 6. /TASS/. Net profit of Rusagro under International Financial Reporting Standards dropped by 84% in 2022 compared with 2021 to 6.787 bln rubles ($99 mln), according to the company’s financial results for last year published on its website on Monday.

"Net profit for the period amounted to 6,787 million rubles ($99 million), a decrease of 34,647 million rubles (-84%)," Rusagro said.

Sales totaled 240.23 bln rubles ($3.504 bln), up by 8% compared to 2021, according to the report.

Adjusted EBITDA amounted to 45.015 bln ($657 mln), down by 6% compared with the previous year. Adjusted EBITDA margin decreased to 19% in 12M 2022 from 22% in 12M 2021.

Net debt equaled 99.723 bln rubles ($1.418 bln) as of December 31, 2022, while net debt/adjusted EBITDA was 2.22 as of the same date.

One of Russia’s leading producers of sugar, pork and fat-and-oil products, Rusagro Group supplies products to more than 80 Russian regions and 35 countries worldwide.