KYIV. Oct 19 (Interfax-Ukraine) – French group AgroGeneration with assets in Ukraine in January-June 2016 posted EUR 233,000 of net profit against a net loss of EUR 5.41 million in the same period of 2015.
According to a company report, its sales revenues increased by 24%, to EUR 3.83 million, reflecting an increase in agricultural stocks at the end of the reporting period.
The company’s gross profit at the end of the first half of 2016 decreased by 26%, to EUR 8.77 million, operating profit by 33%, to EUR 4.12 million. EBITDA as of June 30 amounted to EUR 5.8 million, which is 30.6% less than on the same date in 2015.
The group’s net debt at the end of the first half of 2016 amounted to EUR 44.8 million against EUR46.3 million as of June 30, 2015.
As reported, French group AgroGeneration was founded in 2007. It specializes in growing grains and oilseeds. In Ukraine the group currently cultivates about 120,000 hectares of land.
In October 2013 AgroGeneration completed its merger with Ukrainian agricultural company Harmelia.
