In January-September 2024, IMC Agro Holding increased its revenue to $140.8 million, up 43% year-on-year, according to the company’s report.
According to the report, the most significant part of the company’s revenue comes from corn sales, accounting for 47.4% in the first nine months of 2024 and 83.6% in the first nine months of 2023.
In addition, in January-September 2024, the agroholding increased its revenue from sunflower sales almost fivefold to $23.4 mln. Revenue from wheat sales increased to $49.7 mln, or five times.
The increase in normalized EBITDA in January-September 2024, as well as the increase in net profit, is due to the increase in sales volumes and higher grain prices at the end of the reporting date, IMC explained.
As reported, in the season-2024, IMC grew spring crops on 90 thou hectares, of which 65.8 thou hectares were allocated for corn and 24.2 thou hectares for sunflower. The agricultural holding completed sunflower harvesting in the last days of September. The company produced 77.7 thousand tons of gross harvest with a yield 60% higher than the national average of 3.2 tons/ha.
IMC Agro Holding is an integrated group of companies operating in Sumy, Poltava and Chernihiv regions (north and center of Ukraine) in the crop production, elevators and warehouses segments. The Group’s land bank is about 120 thousand hectares and storage capacity is 554 thousand tons, with a 2023 harvest of 1.002 million tons.
In 2023, IMC posted a net loss of $21.03 million compared to $1.12 million a year earlier, and its EBITDA decreased 11.3 times to $3.22 million. Revenue increased by 22.3% to $139.45 million, while the share of exports decreased to 68% from 73% a year earlier.
