Kirillitsa Group of Companies (Oil Resource, Zemlitsa) announced preliminary financial results for the first quarter of 2024.

The holding's total revenue for the quarter amounted to about 5 billion rubles which is more than 2.6 times more than in the same period of 2023. The total volume of oil products supplies in the first three months amounted to about 125 thousand tons.

In the first quarter, the logistics block continued to develop, the fleet of fuel tankers and oil tankers was increased
to 50 units. The Group of Companies provides services for the transportation of oil and petroleum products to both VIOCs and other customers which is a continuation of the long-term strategy implementation.

In the first quarter, the placement of the second issue of three-year exchange-traded bonds of JSC "Management Company "ORG" in the amount of 300 million rubles was completed. The monthly coupon rate is 16.5% per annum.

"We are intensively expanding our geography and diversifying our business lines which is reflected in the growth of the key financial indicators of the group of companies. In the coming years, we plan significant investments in the development and launch of new business lines," Semyon Garagul, founder and shareholder of the group, said.

Kirillitsa is a vertically integrated group of companies which includes grain supplier "Zemlitsa", LLC, supplier of oil and petroleum products "Oil Resource Group", LLC, management company, trading and logistics companies. The Group has been successfully operating on the market for more than 10 years and specializes in wholesale supplies of raw materials in Russia, CIS countries, Asia and Africa as well as transportation and export operations.