Economic results of KSG Agro holding for 2021 were confirmed by international audit company Crowe which is one of the top 10 world audit networks, the holding press-release said on Monday.
According to the report, the agrarian group has significant biological assets through its agricultural operations, which reached $39.4 million at the end of 2021, and net income from biological transformation for that year was $7.3 million.
“The pre-war year was one of the best in the history of our holding company, as witnessed by international auditors. Thanks to the successful choice of technology and weather conditions, our crop yields were the highest in the last 10 years, and in the pig segment we had a good update of the herd with Canadian Genesus genetics and achieved high dynamics of piglet litter,” – quotes the head of the holding Sergei Kasyanov.
KSG Agro noted that Polish investors are very closely monitoring the state and development of the Ukrainian companies which are listed on the Warsaw Stock Exchange. They understand that Ukraine will win the war with Russia, and therefore they pay attention to the professional evaluation of the financial and production situation of Ukrainian assets by international auditing companies, said the holding
KSG Agro reminded that according to the results of 2021, KSG Agro S.A. (Luxemburg) increased gross income by 44% compared to 2020 – from $21.3 million to $30.7 million, EBITDA by 2 times – from $6.02 million to $12.27 million, its operating profit increased by 2.5 times – from $4.3 million to $10.7 million. The profit of KSG Agro S.A. (Luxemburg), which includes all the group companies, was $20.2 million before taxes.
The vertically integrated holding KSG Agro is engaged in pig breeding as well as the production, storage, processing and sale of grain and oilseeds. Its land bank is about 21,000 hectares.
According to the agricultural holding, it is one of the top five pork producers in Ukraine.
KSG Agro in the first half of 2022 increased normalized profit by 43% compared with January-June 2021 – to $1.21 million, while its revenue decreased by 12%, to $6.02 million, and EBITDA by 17%, to $2.22 million.
