Damate announces financial results for 2025
Damate Group, a category expert in niche meat markets, announces its financial results for 2025 based on consolidated financial statements prepared in accordance with IFRS.
In 2025, revenue reached RUB 82.8 billion, representing a 15% increase compared to 2024. Adjusted EBITDA stood at RUB 12 billion.
Despite the significant strengthening of the ruble and a decline in export revenue, the company managed to maintain double-digit revenue growth by increasing production volumes of turkey and duck products, as well as expanding the output of high-margin, deep-processed turkey products.
The decline in profitability in 2025 was driven by rising production costs, increased expenses for transport, logistics, and labor, and a higher tax burden. Financial results were also significantly impacted by rising financial costs, resulting from the Central Bank of Russia’s high key interest rate and changes to subsidy terms for existing investment loans.
In 2025, Damate Group underwent a major business restructuring. The Group’s development strategy for the next five years was adjusted, the corporate governance system was modified, and a transition to a divisional structure was implemented. The management company assumed the role of the sole executive body for all of the Group’s key production facilities. In light of the challenging labor market and rising personnel costs, the incentive system for production staff was revised, and recruitment approaches were updated. Additionally, the integration of assets in the Rostov region was fully completed.
"Undoubtedly, these processes required additional investment from us, but the transformation yielded significant positive results as early as the beginning of this year: EBITDA figures for the first quarter of 2026 were the highest in Damate’s history." "In the first three months of the current year, revenue—based on unaudited RAS data—totaled RUB 22.6 billion, while EBITDA reached RUB 5 billion, marking a 25% increase compared to the same period last year," said Stanislav Varich, First Deputy CEO of Damate. "Despite a rather challenging 2025, we not only met all our planned obligations but also managed to pivot by undergoing a profound business transformation. We anticipate that this will reduce our vulnerability to high market volatility, cuts in state support, and adverse changes in other external conditions. We expect the positive trend in our financial performance to continue and strengthen going forward."
Turkey Production
In 2025, Damate increased its turkey production by 11%, reaching 268,000 tonnes (slaughter weight). The company reaffirmed its status as Russia’s largest turkey producer for the eighth consecutive year, maintained its position as the number one producer in Europe, and remained among the top five producers globally.
Last year, Damate continued to develop its turkey production complex in the Penza region. A poultry unit comprising 32 poultry houses was launched at the end of the year. Once this unit reaches its planned capacity, the company will be able to increase turkey production by 11,300 tonnes annually.
In the summer of 2025, Damate and the Penza Region Government signed a roadmap outlining the construction of five additional turkey rearing and fattening units in the region. This initiative will boost turkey production capacity to 300,000 tonnes (slaughter weight) per year.
In the Rostov region, the company continued ramping up its turkey production complex to planned capacity, increasing output volumes and expanding its product range (including the launch of 10 new marinated product varieties). Production of Deep-Processed Turkey Products
Damate continues to increase its production of deep-processed turkey products. Last year, the company produced over 31,000 tonnes of these products—a 21% increase compared to the previous year. Positive growth trends were observed across all product categories, including sausages, hams, dry-cured delicacies, and "Indilight" semi-finished products.
Duck Production
Damate increased its duck production by 11% in 2025, producing 20,000 tonnes of duck (slaughter weight). The duck production complex operated at full capacity, driven by strong consumer demand, an expanded product range, and the growth of export sales. Production volumes rose across all categories—including whole carcasses, cut portions, and marinated products—by the end of the year.
