Rating of the largest Belarusian dairy companies

The undisputed leader of the dairy industry in the Republic of Belarus remains the Savushkin Product company, whose revenue approached $742 million. This is evidenced by the data of the Rating of the largest companies in the country, which was prepared by the National Union of MILK Producers (SOYUZMOLOKO), the consulting company Streda Consulting and the Milknews news agency. The company ranks third place not only in the market of the Union State, but also in the entire CIS space, having increased the gap from the three closest competitors by 1.5–2 times.  

“Thanks to the consistent takeover of the Berezovsky, Orsha and Baranovichi plants, the company was able to almost double its revenue in two years, and the investment projects implemented at the acquired sites will allow in the coming years to create one of the largest cheese producers in Eastern Europe with a capacity of more than 80 thousand tons per year,” - stressed Soyuzmoloko CEO Artem Belov.  

The Slutsk CHEESE FACTORY (No. 2), Babushkina Krynka (No. 3), MINSK Dairy Plant No. 1 and Lida Milk Canning Plant (shared 5th place) retained their positions in the TOP-5 largest companies in Belarus. Molochny Mir broke into the 4th place, overtaking 4 players at once, which, thanks to the accession of the Shchuchinsky MSZ and the Dyatlovsky SZ, immediately doubled its revenue to almost $250 million. due to the accession of MK "Novogrudok Gifts".  

In terms of the composition of players and their positions, the 2020 rating did not bring surprises, although changes have occurred even in the TOP-5 players, the authors of the rating note. The era of large-scale investment projects in the Belarusian dairy industry ended a few years ago, so most of the changes are related to M&A. In particular, for the first time, one of the few independent private cheese producers, the Belovezhskie Syry company, entered the rating for the vacant position.  

“The total revenue of the TOP-20 dairy companies in Belarus in 2020 exceeded $3.1 billion and grew by 22% in rubles,” explained Alexei Gruzdev, CEO of Streda Consulting. “At the same time, the dynamics of sales in dollars, against the background of the gradual devaluation of the Belarusian ruble, is much more modest, and for half of the rating participants it generally decreased by 5–15%.”  

According to analysts, the EXPORT of Belarusian dairy products to RUSSIA at the end of the year amounted to $2.38 billion. “Belarus remains a key external supplier of dairy products to Russia with a 72% share,” reminds Artem Belov. “In recent years, the country has diversified its exports, and we see a significant increase in cheese exports to Russia and whey supplies to CHINA .”  

Consolidation of dairy enterprises continues in Belarus: in 2018, 42 dairy companies operated in the dairy market of the state, and by the end of 2021, according to the plans of the Government, only 32 should remain. According to experts, several more large M&A are expected in the next couple of years, which will affect on the alignment of forces in the market of Belarus and Russia. 

Rating of the largest dairy companies in the Republic of Belarus in 2020
 

- conversion into dollars through the average official exchange rate of the Belarusian ruble of the NATIONAL BANK of the Republic of Belarus Source: official financial statements of companies.