TAS Agro agricultural holding intends to finish the 2024 season with a net profit of more than $18 million, the company’s CEO Oleg Zapletnyuk said in an interview with Forbes Ukraine.
Answering the question why TAS Agro cut its revenue three times to UAH 739 million in nine months and incurred more than UAH 70 million in losses, compared to UAH 150 million in profit last year, Zapletnyuk explained that the drop was due to a change in sales strategy.
“By the end of September 2023, the agricultural holding had sold 70% of the products it produced in 2022. This year, as of November, only 30% of the production has been sold. (…) The sale of the remaining stock will adjust the financial result. (…) The financial result will be positive and much better than last year. Last year, crop production ended the season on the verge of profitability, this year we plan to achieve more than $320 EBITDA per hectare,” said the CEO of TAS Agro.
TAS Agro was established in 2014. Its land bank includes 88 thousand hectares in Chernihiv, Sumy, Kyiv, Vinnytsia, Kirovohrad and Mykolaiv regions. The holding specializes in crop production, with elevators with a capacity of about 250 thousand tons. The livestock business is represented by a cattle herd of 5.5 thousand heads, of which 2.5 thousand heads are dairy cattle.
According to the Opendatabot resource, the company’s revenue in 2023 amounted to UAH 2.588 billion, net profit – UAH 155.842 million, debt – UAH 1.2 billion, assets were estimated at UAH 1.8653 billion, and the number of employees – 129. The authorized capital is UAH 8 thousand.
The agricultural holding is part of the TAS group, which was founded in 1998. Its business interests include the financial sector (banking and insurance segments) and pharmacy, as well as industry, real estate, and venture capital projects.
The founder of TAS and the beneficiary of TAS Agro is Sergiy Tigipko.
