IMK Agroholding ended 2024 with a net profit of $54.54 million compared to a net loss of $21.03 million in 2023, according to the company’s annual report on the Warsaw Stock Exchange.
According to the report, the company’s revenue grew by 52% to $211.29 million, gross profit increased fourfold to $109.10 million, and normalized EBITDA increased 25-fold to $86.11 million.
“The growth in EBITDA in 2024, as well as the increase in net profit, is related to higher sales volumes and prices for grains and oilseeds during the period,” the document says.
IMC specified that the most significant part of the company’s income comes from corn sales – $107.85 million, which is 8% more than in 2023.
At the same time, in 2024, the agricultural holding increased its revenue from the sale of sunflower seeds by 2.7 times to $46.45 million, wheat by 2.5 times to $56.01 million, or five times.
The share of exports in revenue increased last year to 75% from 64% a year earlier.
According to the report, net cash flow from operating activities increased in 2024 to $91.6 million from $17.1 million in the previous year, mainly due to higher sales volumes.
Net cash outflow from investing activities increased to $22.5 million from $16.6 million in 2023, in line with the group’s capital investment program, the document said.
It is also noted that debt fell last year from $45.7 million to $23.3 million.
IMK Agroholding is an integrated group of companies operating in the Sumy, Poltava, and Chernihiv regions (north and center of Ukraine) in the crop production, elevators, and warehousing segments. The land bank is 116,000 hectares, storage capacity is 554,000 tons, and the 2024 harvest is expected to be 864,000 tons.
In 2023, IMK reported a net loss of $21.03 million, compared to $1.12 million a year earlier, while its EBITDA fell 11.3 times to $3.22 million. Revenue grew by 22.3% to $139.45 million, while the share of exports fell to 68% from 73% a year earlier.
In the first nine months of 2024, the agricultural holding reported a net profit of $47.17 million, compared with a net loss of $2.25 million in the first nine months of 2023. Its revenue grew by 43% to $140.79 million, while EBITDA increased 5.1 times to $71.10 million.
As of May 2, Ukraine had exported 35.341 million tons of grains and legumes since the beginning of the 2024-2025 marketing year (MY, July-June), of which 119,000 tons were shipped since the beginning of this month, according to the press service of the Ministry of Agrarian Policy of Ukraine, citing data from the State Customs Service.
According to the report, as of May 3 last year, total shipments were estimated at 41.607 million tons, including 242,000 tons in May.
At the same time, since the beginning of the current season, 13.913 million tons of wheat (15.848 million tons in 2023/24 MY) have been exported, 2.264 million tons of barley (2.205 million tons), 10.8 thousand tons of rye (1.2 thousand tons), and 18.644 million tons of corn (23.074 million tons). (1.2 thousand tons), and corn – 18.644 million tons (23.074 million tons).
Total exports of Ukrainian flour since the beginning of the season as of May 2 are estimated at 58.7 thousand tons (in 2023/24 MY – 87.1 thousand tons), including wheat flour – 54.5 thousand tons (82.4 thousand tons).
In 2025, Germany’s economy continues to face serious challenges. After two consecutive years of GDP decline (0.3% in 2023 and 0.2% in 2024), the current year is characterized by stagnation, with GDP growth forecast at 0.0%. This makes Germany the only G7 country that has not shown economic growth in the last three years.
The new government led by Chancellor Friedrich Merz, who is due to take office on May 6, is expected to present a package of measures to stimulate the economy. These include
Economists predict a moderate recovery of the German economy in 2026 with GDP growth of around 1.0%. However, the successful implementation of these forecasts will depend on the new government’s ability to effectively address internal and external challenges.
Ukraine has already exported 494,000 tons of sugar in the 2024-2025 marketing year, of which 196,600 tons were exported in January-April 2025, according to the press service of the National Association of Sugar Producers of Ukraine “Ukrtsukor” on Facebook.
According to the report, 90% was destined for the global market, with 10% exported to EU countries.
According to the industry association, Turkey remains the leading buyer of Ukrainian sugar, accounting for 16% of export volumes, followed by Libya (11%) and EU countries (10%).
Dynamics of import of goods in January-November 2024 by the most important items in relation to the same period of 2023, %
The Kyiv School of Economics (KSE) plans to invest $10 million in the internal renovation of the Golf Club in Obolon, Kyiv, which it recently acquired for $18 million, so that the campus created on its premises meets the requirements of leading world universities, KSE President Timofey Milovanov said.
“About $10 million will go toward internal renovation, not external. Everything there needs to be demolished, and laboratories, amphitheaters, and makerspaces need to be built. … Filling the campus itself with high-quality, modern educational facilities, such as those found in top universities, will cost $10 million,” he said in an interview with Interfax-Ukraine.
According to Milovanov, KSE sent a team to MIT (Massachusetts Institute of Technology) to see what a makerspace is.
“This is where students have access to all modern robots, lasers, machine tools with software control — everything they need to make a prototype if they have an idea. All the equipment must be there, from projectors to lecture halls, and there must be access to software that costs money even for universities,” explained the KSE president.
He added that there are plans to open these makerspaces for students from other universities as well.
Milovanov recalled that the first KSE building in Kyiv, located at 3 Shpaka Street, cost $2.5 million, with another $2.5 million spent on renovations: shelter, sleeping capsules, library shelves, AI cameras that allow hybrid lectures, a security system, fire safety, modern ventilation, batteries, and generators in case of blackouts.
Some of this is already in place at the Golf Club, but it was designed for a small number of people, not the several thousand students who will be working here, added the KSE president. Among other things, he pointed to the building’s well-insulated basements, which can be used as shelters for all students and teachers.
He emphasized that he was very pleased with the purchase because the Golf Club was built to a very high standard, so the price of the deal was very attractive considering the location—$18 million for 14,500 square meters of space plus 5 hectares of land on lease.
“Even if you don’t count the land and the location near the Dnieper, that’s $1,200 per square meter! (…) But now there are no buyers. If people have $20 million, they will buy a hotel in Indonesia, not invest in Ukraine. I think this is simply a factor of the war, and we are very lucky—without the war, it would have been many times more expensive,” Milovanov believes.
According to him, in theory, the first students could use the renovated building as early as January next year, although in practice it may take longer, partly because of the existing tenants, with whom KSE would like to resolve the issue without any disputes.
“But there are two buildings at the Golf Club. One of them is empty—there are no tenants. So we are already starting demolition this week, and it may be ready sooner. That is where we will build makerspaces, amphitheaters, and other significant renovations,” said the KSE president.
He emphasized that the university will maintain the land’s sporting purpose, as stipulated in the lease agreement.
“We will do everything completely according to the law, so we will leave the golf course. Some good businessmen are already writing to us about how this can be improved. So maybe there is something in this direction,” Milovanov said.
At the same time, he said that in the future, KSE would like to expand the purpose of the land plot so that it fully corresponds to the university, so it will submit all the documents to the Kyiv City Council.
“I think it will take 5-7 years. But we have no other way, because we are an American company. Although local developers tell me: Timofey, why are you doing this? Do what you have to do, and you’ll figure it out later. But we don’t do that, we are an American company. We don’t know how to decide things like that,” he emphasized.
KSE is a private university and research center founded in 1996. It operates as a non-profit organization registered in the United States. Since 2022, KSE donors have contributed more than $150 million to humanitarian, defense, and educational projects, including the development of university infrastructure.
GOLF CLUB, INVESTMENT, KYIV SCHOOL OF ECONOMICS, RECONSTRUCTION
