MOSCOW, April 8. /TASS/. Agroholding Steppe (part of Sistema) boosted its IFRS revenue to 106.1 bln rubles ($1.15 bln) by the end of 2023 up 26.8% from 2022, according to the company’s statement.

"The company's revenue in 2023 reached 106.1 bln rubles, which is 26.8% more than the results of 2022. The increase was due to growth in indicators in the agricultural trading area, a record gross harvest, an increase in the volume of sales of harvest, an increase in the volume of milk production due to rising number of forage livestock, and an increase in milk yield per cow," the report said.

Sales volume in the agricultural trading segment reached 2.8 mln tons by the end of 2023, which is a 62.3% increase over the previous year. According to the company, a rise in export sales was one of the primary growth drivers. Thus, the agricultural holding shipped over 600,000 tons of specialized crops in 2023.

The company also said that its dairy division's production performance is setting records - the gross milk yield at the end of 2023 increased by 20.4% to around 180,000 tons. At the same time, the gross harvest of agricultural crops at the end of last year exceeded 2.1 mln tons, a 7.9% increase over the previous year's harvest.

Agroholding Steppe is one of Russia’s major agricultural companies. The agricultural holding develops its business in four core areas: crop production, dairy farming, intensive horticulture, and agricultural product trading. Its assets are located in southern Russia.