STEPPE Agroholding

STEPPE Agroholding is among Russia's largest agricultural players, with a diversified assets portfolio in fruit growing, crop and dairy farming. The company also develops logistics and trades in grain, sugar and grocery.


89.7 percent

in 2021

57.2 bn ₽


> 1.8 mn tonnes


578 thousand ha

Development Strategy

STEPPE is one of the largest owners of agricultural land in Russia and national leader in terms of operating efficiency, asset quality. The company has deep agricultural expertise in crop and dairy farming, and also operating as an agricultural trader. This business boosts the company's competitiveness as a whole, while benefiting from access to a commodity base and own logistical facilities. 

Agroholding’s agricultural assets are located in the regions most favourable in terms of climate, crop yields and logistics: the Krasnodar region, the Stavropol region, the Rostov region. STEPPE owns 50% of RZ Agro, one of the major producers of grain and oil crops in southern Russia jointly controlled by Sistema and the Louis-Dreyfus family.

Underlying STEPPE's business model are the principles of vertical integration and diversification across agricultural segments that hold the most potential. The company's development strategy relies on the further increase of the land bank, aggressive advancement in the trading segment, development of corporate logistics infrastructure and construction of new dairy farms.

Annual revenue


Financial performance 2021

+ 74.1 %


+ 54.1 %


7.5 bn ₽

Net profit

25.1 %

OIBDA margin

In 2021, revenue went up 74.1% to RUB 57.2 billion, primarily driven by an increase in the gross harvest in the Field Crops segment, an effective sales strategy in the Agrotrading segment and the intensive development of international agrotrading, as well as the launch of the Niche Crops Trading business line. Revenue growth was also supported by increased milk production in the Dairy segment and the development of new business lines including production of packaged cheese and distribution of dairy products and plant-based alternatives. 

OIBDA was up 54.1% to RUB 14.4 billion, mainly due to improved operational efficiency and higher crop yields, upward price trends for the sale of agricultural products, improved performance in international agrotrading, expansion of the herd of high-yield dairy cattle and an increase in gross yield, as well as the development of new business lines.

In 2021, Steppe’s adjusted net profit increased by 92.0% to RUB 7.5 billion.

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Grain trading and logistics


Russia's largest grain producers

1,1 mln tonnes

grain exports at the end of 2020

Steppe AgroHolding is among Russia’s top 10 grain exporters. The company’s total exports in the 2019–2020 crop year exceeded 1.1 mln tonnes, and total sales in calendar year 2020 reached 1.2 tonnes..

The company’s main focus within the segment has been on enhancing operations and rolling out a high-efficiency trading strategy. Strong performance in the international trading segment combined with a GAFTA accreditation as a first-rate grain trader and partnerships with leading global traders pave the way for the evolution into a global grain trader with extended presence in the international markets..

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Sugar & grocery trading

330 thsd tonnes

sales in 2020

Number 1 in Russia

by sales

Sugar & grocery trading allows Steppe to unlock considerable synergies with the crop farming business while also ramping up the output of prepackaged branded produce.

In 2020, sales in the segment totalled 330 thsd tonnes, up 7% (or 23 thsd tonnes) year-on-year. The aptly chosen “time arbitrage” strategy delivered a significant growth across financial performance parameters.

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Crop farming

1,253 thsd tonnes

gross harvest of crop farming

Number 6 in Russia

in terms of farmland area

In 2020, Steppe increased the area of owned farmland to 565 thsd ha (up from 416 thsd ha a year earlier), having formed a new production cluster in the north of the Rostov region and acquired more land in the Stavropol region. 

Despite the unseasonably harsh agro-climatic conditions of 2020, the company leveraged innovations so as to avoid harvest losses.
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Dairy farming

6,687 cows

milk livestock


dairy farms

71,4 thsd tonnes

total milk yield

11,3 thsd litres a year

per-cow milk yield

Dairy farming is Steppe’s second largest line of business that greatly contributes to both diversification and vertical integration. As of the end of 2020, the company had 6,587 lactating cows, up 14% year-on-year. The total milk yield in 2020 was up 25% year-on-year, to 71.4 thsd tonnes.

The company further increased focus on productivity and technology advancements at dairy farms. This included the construction of a megafarm in the Krasnodar region, the future home of some 3 thsd cows scheduled for launch in the first half of 2021, and the upgrades of another megafarm in the Krasnodar region (with some 9 thsd cows) purchased in 2020.

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Vladimir Yevtushenkov, the tycoon riding Russia’s market boom
11 September 2021

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STEPPE Agroholding