Business news from Ukraine


15 March , 2018  

PJSC Avangard, uniting the poultry farms of the eponymous agricultural holding, the largest egg producer in Ukraine, in 2017 posted a net unconsolidated loss of UAH 183.14 million, which is almost 54.6% less than in 2016 (UAH 403.43 million). According to a report on holding a shareholders’ meeting on April 28, 2018, its uncovered loss in 2017 amounted to UAH 11.84 million, while a year earlier undistributed profit was fixed at UAH 71.3 million.
Its assets in 2017 increased by 9.8%, to UAH 43.43 billion. Total debtor indebtedness rose by 21.8%, to UAH 24.34 billion, current liabilities decreased by 5.5%, to UAH 36.2 billion.
The holding owns 19 poultry farms, ten farms breeding laying hens, three incubators, six feed mills, three elevators, the factory for egg production Imperovo Foods. The company exports its products to the markets of the Middle East, Africa, Asia, the CIS and the EU.
As reported, Ukrlandfarming agricultural holding in 2017 reduced the land bank by 5.8%. Ukraine’s largest producer of eggs Avangard agricultural holding, controlled by Ukrlandfarming, whose shares are traded on the London Stock Exchange, in October 2015 completed the restructuring of eurobonds for $200 million. Previously American Cargill has withdrawn from among the shareholders of Ukrainian-based UkrLandFarming (ULF) agrarian holding, according to a ULF financial report for 2016. Cargill’s subsidiary, Cargill Financial Services International Inc. by the end of 2015, had held 1,668,749 ULF shares, or 5% of the total number. By the end of 2016, the number of shares owned by Avonex Limited had not changed, whereas the package held by Cargill was transferred to Cyprus-based Quickcom Limited’s ownership. The report says that the sole owner of Avonex Limited and Quickcom Limited is Oleh Bakhmatiuk. Cargill acquired a 5% stake in ULF early in 2014 for $200 million. Based on the sum of the deal, the total value of the holding was assessed at $4 billion.