The share prices of all 10 Ukrainian agricultural holdings listed on the Warsaw and London stock exchanges fell in 2022, the fall was from 1.4 times for Ukrproduct to 3.15 times for Kernel.
It follows from the data of the relevant stock exchanges that all Ukrainian agricultural companies have been significantly affected by the Russian military invasion and the negative consequences for the economy of the country caused by it. At the same time, their territorial location did not play a decisive role – the shares of Agroton, whose land bank was occupied by the Russians, fell in price by 1.86 times, while the shares of Milkiland, which did not fall under the occupation, fell by 2.5 times.
According to the exchange, over the period from January 1, 2022 to January 6, 2023, the Ukrainian agricultural companies’ securities fell in price as follows
“Ukrproduct – 1.4 times, to $3.25 (PLN14.3) from $4.5 (PLN19.8).
“Ovostar – 1.52 times, to PLN44.8 from PLN68;
KSG Agro – 1.73 times, to PLN2.21 from PLN3.84;
MHP – 1.81 times, to $3.7 (PLN16.28) from $6.72 (PLN29.7).
“Astarta – 1.83 times, to PLN22.2 from PLN40.55;
“Agroton – 1.86 times, to PLN3.62 from PLN6.76.
“IMC” – 1.92 times, to PLN16.6 from PLN32.
“Milkiland – 2.5 times, to PLN0.9 from PLN2.25;
“Agroliga – 2.66 times, to PLN19.9 from PLN53.
“Kernel – 3.15 times, to PLN18.49 from PLN58.3
Thus, the shares of five of the 10 holdings have fallen in price by 1.73-1.92 times for the year, which allows us to judge roughly the average range of decline in the industry.
The value of shares of eight out of nine Ukrainian agricultural holdings, whose shares are listed on foreign exchanges, fell sharply on February 24 due to the Russian military invasion of Ukraine, but partially recovered during March, reaching a maximum value for five groups of companies on March 29, during the Ukrainian-Russian negotiations in Istanbul.
Corresponding trends for securities of agricultural groups from Ukraine can be traced in the analysis of data from the Warsaw and London stock exchanges.
Thus, for the period February 23 – March 31, the price of shares of the Astarta agricultural holding on March 29 “bounced” to PLN28.5 compared to the pre-war PLN29.0 on March 23 (1.7% less). Similarly, on March 29, peak values during the war with the Russian Federation reached the price of shares of IMK – PLN21.0 (February 23 – PLN22.8, -7.8%), “Agroton” – PLN6.0 (PLN6.66, -10%) , Kernel – PLN36.5 (PLN46.4, -21.3%), Agroliga – PLN25.6 (PLN37.8, -47.6%).
At the same time, on March 29, the value of the securities of the KSG Agro group of companies even exceeded the pre-war figures, reaching PLN2.92, which is 5% more than on February 23, PLN2.78.
The most highly quoted shares of the agricultural holding MHP were $5.26 (PLN21.98) on March 3, which is -11% less than the pre-war $5.96 (PLN24.91). Milkiland reached a similar peak on March 18 – PLN1.22 against PLN1.45 (-15.8%), and Ovostar – on March 23, PLN59 against PLN58 (+1.6%).
In turn, the largest drop since the beginning of the invasion of the aggressor country of the Russian Federation, the shares of MHP agricultural holding reached $ 3.3 (PLN 13.79, -80%) on March 24, Kernel – on March 8 (PLN 18.8, a fall of 2.5 times ), Agroliga on March 3 (PLN16.5, a drop of 2.3 times), Astarta on March 2 (PLN14.2, a drop of 2 times), IMC on March 7 (PLN12.6, a drop of 1 .8 times), KSG Agro on March 24 (PLN 1.55, a drop of 1.8 times), Agroton on February 24 (PLN 4.0, -40%), Milkiland on February 24 (PLN 0.96 , a third drop), Ovostara on March 21 (PLN54.5, -7.6%).
As of 17:00 March 31, Kernel shares are valued at PLN33.0, MHP – $4.2 (PLN18.39), Astarta – PLN26.15, IMC – PLN20.5, KSG Agro – PLN2.68, Ovostar – PLN49.6, Milkiland – PLN1.22, Agroliga – PLN23.7, Agroton – PLN5.78
The capitalization of seven largest Ukrainian agricultural holdings decreased over the period of January 10-14, while one increased, according to the data presented on the Warsaw and London Stock Exchanges, where their securities are quoted.
Thus, the capitalization of the agro-industrial group Kernel decreased by 1.5% over the past week, from PLN 4.873 billion ($1.23 billion) to PLN 4.798 billion ($1.21 billion).
The capitalization was also reduced by such agricultural holdings MHP – by 1.5%, from $737.7 million to $726.6 million, IMC – by 2.4%, from PLN 1.078 billion ($272.9 million) to PLN 1.051 billion ($266.0 million), Astarta – by 2.6%, from PLN 1.035 billion ($262 million) to PLN 1.007 billion ($254.9 million), and Ovostar – by 0.7%, from PLN 405 million ($102.5 million) to PLN 402 million ($101.8 million).
In addition, over January 10-14, the capitalization of the Agroton group of companies decreased by 0.5%, from PLN 146.05 million ($36.9 million) to PLN 145.19 million ($36.8 million), KSG Agro – by 0.7%, from PLN 57.1 million ($14.4 million) to PLN 56.63 million ($14.3 million), and Milkiland – collapsed by 17.8%, from PLN 68.43 million ($17.3 million) to PLN 56.56 million ($14.31 million).
During the specified period, only the capitalization of the Agroliga holding increased by 4.5%, from PLN 77.2 million ($19.5 million) to PLN 80.69 million ($20.4 million).
Accordingly, by the close of trading on January 14, the share price of Kernel was PLN 57.1 per share; MHP – $6.56 (PLN 25.9); IMC – PLN 31.7, Astarta – PLN 40.3, Ovostar – PLN 67.0; Agroton – PLN 6.7; KSG Agro – PLN 3.77; and Milkiland – PLN 1.8.
