KYIV. April 18 (Interfax-Ukraine) – Industrial Milk Company (IMC) saw $14.04 million in net profit in 2015 compared to $47.33 million of net loss in 2014.
The company said in its financial report that its revenue last year increased by 2%, to $140.39 million.
Gross profit increased by 20%, to $74.35 million and operating profit – by 28%, to $58.56 million.
Earnings before interest, tax, depreciation and amortization (EBITDA) totaled $66.52 million and this was 16% up on 2014.
The company said that foreign currency exchange loss, net decreased to $30 million of loss for the 12-month period ended December 31, 2015 from $73.5 million of gain for the 12-month period ended December 31, 2014. This decrease reflected the less devaluation of hryvnia in 2015 in comparison with 2014. The company’s loans and borrowing decreased by $28.7 million, reaching $98.7 million on December 31, 2015.
The share of revenue from sale of crops was 96% of total revenue ($135.1 million, 4% up year-over-year), and the share of revenue from sale of dairy products was 3.4% ($4.8 million, 39% down year-over-year).
The share of exports revenue was 74% of total revenue.
IMC cultivates grains, oilseeds and potatoes. It is also one of the largest milk producers in Ukraine. The company owns a storage capacity of 554,000 tonnes of grains and oilseeds. Its land bank is 136,700 hectares.
