The debt load “Econiva” reached € 696 million (63 billion rubles), which is 3.7 EBITDA for 2019. The amount of the debt of 2.5 EBITDA is considered normal.
According to Spark-Interfax, since the beginning of 2021, claims for about 600 million rubles have been filed against Econiva structures. In 2020, the agricultural holding claims were 880 million rubles.
Econiva Dürra is the largest producer of raw milk in Russia. Today, agricultural holding controls the farms for 207 thousand heads with a production of over 3 thousand tons of raw materials per day. The company cannot pay for the supply of feed ingredients in time.
Stefan Durr himself denies that his agricultural holding has some problems. But Durr confirmed to Kommersant that 2 thousand people leave Econiv. Mass dismissals in the Voronezh branch began a month ago, but the information was hidden about this. In early March, 70% of the staff of the Central Office of Econiva in Voronezh were reduced.
Dürr explains this by the fact that business will grow at a smaller pace. Econiva no longer plans to build new farms on their own, because there are no needs for such a number of people as before.
One of the reasons for the problems of Econiva is aggressive growth in previous years on credit funds. Now Econiva is forced to reduce expenses, including staff, but “there is a risk that measures are late.”
In Rosselkhozbank, they are looking for options for how to optimize the credit load of agricultural holding. During the restructuring of the debt “Econiva”, we can talk about the extension of the terms of payments and adaptation of debt payments, taking into account seasonal oscillations of revenue.
“ВЧК ОГПУ”
