I & S INNOVATION & SUSTAINABILITY
28 May 2012

EFKO Group, a leading Russian vertically-integrated producer of industrial fats, mayonnaises and vegetable oils, announces its operating results for the first quarter of 2012.

EFKO Group, a leading Russian vertically-integrated producer of industrial fats, mayonnaises and vegetable oils, announces its operating results for the first quarter of 2012. In 2012, EFKO continued increasing sales in physical terms in each product segment. Following the first quarter of 2012, sales growth exceeded the year-on-year indicators.

Core Product Sales in Physical Terms (thousand tons)*

Product/Period

Q1 2011

Q1 2012

Food ingredients

76.1

85.3

Bottled vegetable oils

12.3

19.2

Mayonnaises

17.1

26.1

* Management reporting data

Growth of key performance indicators

In the first quarter of 2012, sales of food ingredients, including fats and margarines, grew by 12 % year-on-year and exceeded 85 thousand tonnes. Advanced compound industrial fats for confectionery, bakery, spreads and other food products accounted for over 75 % of total sales – it speaks for strengthening of EFKO's position in the most promising segment of the oil and fat market.

Growth of mayonnaise sales in the first quarter of 2012 totalled 53 % while sales of bottled vegetable oils went up by 56 % year-on-year. Following the first quarter of 2012, EFKO has 15.8 % and 6.9 % share in the Russian mayonnaise and vegetable oil markets respectively.

Consumers' recognition and awards

The Company keeps on expanding its consumer base, with its products becoming more popular and gaining new awards. Vegetable oils and mayonnaises are recognized to be the best products at many international contests and exhibitions.

In early 2012, Sloboda Provencal and Sloboda Provenсal Olive mayonnaises received golden awards and diplomas at the Customs Union Food Market Leader 2012 international contest. The contest was organized at the 5th International Kazakhstan Food Market 2012 exhibition in Almaty. Sloboda Provencal won the People's Choice contest having received the golden prize and diploma.

At the 15th Food Ingredients, Additives and Spices 2012 international exhibition, EFKO's Ecoslice low fat margarine for puff pastry dough won the golden prize and diploma in the Innovation Technology category of the annual Ingredient of the Year international contest.

Corporate development

In the first quarter of 2012, EFKO completed another stage of its long-term modernization program. The deodorization, neutralization and interesterification facilities located in the Belgorod Region and Krasnodar Krai were re-engineered, with new fat and margarine packaging equipment installed. The annual capacity of these facilities was therefore increased to reach 600 thousand tonnes of specialized fats and margarines.

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