Trading and production company Agromat LLC has received UAH 52.9 mln of profit (before tax) following the results of January-June 2023 against UAH 10.6 mln of loss for the same period in 2022.
According to IBI Ratings, the company’s net income in the first half of 2023 amounted to UAH 1.3 bln, which is 72% higher than the result of January-June 2022. In addition, Agromat increased retained earnings to UAH 928.3 mln.
In the sales structure for the first half of the year, ceramic tiles accounted for 92% of sales – 2.5 million square meters, while friezes and sanitary ware accounted for 3.5% and 4.2%, respectively.
According to IBI Ratings, the long-term credit rating of Agromat’s series G interest-bearing bonds was affirmed at “uaA” with a “development” outlook.
The decision on placement of bonds of series G in the amount of UAH 100 mln with a public offering was made by the meeting of participants of the company in 2021. Maturity of the bonds is from September 25, 2024 to September 27, 2024. The raised funds are planned to be used to organize the work of new stores and increase inventory.
Argomat Ltd. was registered in 1993. It manufactures and sells ceramic tiles and sanitary ware.
According to Opendatabot, the co-owners of the company with 28.65% shares each are Sergei Voytenko, Oksana Reva and Anatoly Tadai. 10.05% belongs to Olga Bashota and 4% to Nadezhda Rusheliuk.
Agromat has 27 stores and a wide dealer regional network.
The company’s revenue in 2022 decreased by 23.3% to UAH 2.148 bln, while net profit almost doubled to UAH 70.4 mln compared to UAH 132.5 mln in 2021.
