Financial results for the Second Quarter and Six Months Ended 30 June 2012 (стр. 3 )

(in thousands of US dollars)	Six months ended 30 June 2012	Six months ended 30 June 2011
Sales
incl. Sales volume discount
incl. Sales returns	(6 983)	(7 520)
Cost of sales	(	(
Gross profit
Gross margin	27,8%	24,7%
Operating expenses	(
Operating Income		75 720
Operating margin	14,4%	11,0%
Income before income tax and minority interest		69 626
Net income attributable to Group Cherkizovo	96 345	66 174
Net profit margin	12,9%	9,6%
Weighted average number of shares outstanding	43	43
Earnings per share
Net income attributable to Cherkizovo Group per share – basic and diluted	2.24	1.54
Consolidated Adjusted EBITDA reconciliation*
Income before income tax and minority interest		69 626
Add:
Interest expense, net of subsidies	6 784	7 306
Interest income	(935)	(1 641)
Foreign exchange loss/gain	225	914
Depreciation and amortisation	38 506	30 050
Consolidated Adjusted EBITDA*
Adjusted EBITDA Margin	19,5%	15,4%

MEAT PROCESSING DIVISION UNAUDITED INCOME STATEMENT DATA

(in thousands of US dollars)	Six months ended 30 June 2012	Six months ended 30 June 2011
Total Sales
Interdivision sales	(523)	(331)
Sales to external customers
Cost of sales	(	(
Gross profit	51 831	48 518
Gross margin	18,9%	16,0%
Operating expenses
Operating Income	15 719	11 282
Operating margin	5,7%	3,7%
Other income and expenses, net	462	1 188
Interest expense, net	(4 782)	(5 090)
Division profit/(loss)	11 399	7 380
Division profit margin	4,1%	2,4%
Meat processing division Adjusted EBITDA reconciliation*
Division profit/(loss)	11 399	7 380
Add:
Interest expense, net of subsidies	4 782	5 090
Interest income	(129)	(129)
Foreign exchange loss/gain	(285)	(105)
Depreciation and amortisation	5 850	6 106
Meat processing division Adjusted EBITDA*	21 617	18 342
Adjusted EBITDA Margin	7,9%	6,1%

POULTRY PROCESSING DIVISION UNAUDITED INCOME STATEMENT DATA

(in thousands of US dollars)	Six months ended 30 June 2012	Six months ended 30 June 2011
Total Sales
Interdivision sales
Sales to external customers
Cost of sales	(	(
Gross profit		75 759
Gross margin	27,0%	23,5%
Operating expenses
Operating Income	62 288	35 302
Operating margin	15,6%	11,0%
Other income and expenses, net	3 007	(720)
Interest expense, net	(2 827)	(3 151)
Division profit/(loss)	62 468	31 431
Division profit margin	15,6%	9,8%
Poultry division Adjusted EBITDA reconciliation*
Division profit/(loss)	62 468	31 431
Add:
Interest expense, net of subsidies	2 827	3 151
Interest income	(2 433)	(295)
Foreign exchange loss/gain	(567)	517
Depreciation and amortisation	20 980	14 488
Poultry division Adjusted EBITDA*	83 275	49 292
Adjusted EBITDA Margin	20,8%	15,3%

PORK PROCESSING DIVISION UNAUDITED INCOME STATEMENT DATA