Based on the results of work in the first half of 2022, IMC Agricultural Holding received $11.34 million in net profit, which is 6.8 times less than in the same period last year, according to the company’s report on the Warsaw Stock Exchange on Thursday.
According to him, the loss from exchange rate differences for the agrarian group in the first half of this year amounted to $2.55 million, while in January-June last year it received $2.11 million from changes in the exchange rate.
At the same time, the company’s EBITDA fell 3.2 times, to $28.98 million, with a 47% reduction in revenue, to $44.53 million. , up to $18 million.
According to the report, the total volume of IMC assets as of June 30, 2022 decreased by 9.1% compared to December 31, 2021 – to $214, short-term debt increased by 5.9%, to $66.8 million, while long-term debt increased by 2.8%, to $155.2 million.
The report also clarifies that 97.5% of all sales in the first half of this year came from corn, compared with 98.2% in the first half of last year, and the price of its sale rose marginally to $208 per ton from $205 per ton last year. year
In total, during the specified period, IMC sold 213 thousand tons of crops for a total of $43.83 million, including 208.8 thousand tons of corn for $43.35 thousand tons of corn (-48% compared to the first half of 2021 ), 645 tons of wheat for $201 thousand (an increase of 2 times), and 93 tons of sunflower for $40 thousand (-66%). In addition, the proceeds from the sale of milk and cattle meat brought the agricultural holding a total of $572,000.
The agricultural holding indicated that until August the Black Sea ports in Ukraine remained blocked for export activities. Although the IMC has developed alternative logistics chains for exporting grain through the seaports of other neighboring countries, such logistics are very complex, have numerous bottlenecks and are associated with high capital costs to create an efficient logistics infrastructure on new export routes, which explains the low volumes of grain exports since 24 February.
At the same time, the IMC noted that none of its critically important facilities received significant damage as a result of the war, all inventories are in good condition and in safe custody, and today all the group’s assets are located in de-occupied territories.
In addition, the IMC declares that there is no shortage of labor and the preservation of its personnel, including key and top managers, although 86 employees defend Ukraine in the ranks of the Armed Forces of Ukraine.
The agricultural holding specified that this year 73% of the company’s land bank was sown: 19.2 thousand hectares of sunflower, 50.2 thousand hectares of corn and 18.4 thousand hectares of winter wheat. Land in the Chernihiv region, where active hostilities were fought, is scheduled to return to production this fall.
As of August 21, IMC completed harvesting winter wheat, harvesting from 18.3 thousand hectares with an average yield of 6.7 t/ha, which is a record result for all the years of the company’s economic activity, and 18% higher than in 2021 year.
IMC specializes in the cultivation of cereals, oilseeds and milk production in Ukraine. It processes about 123.3 thousand hectares of land in the Poltava, Chernihiv and Sumy regions. It owns storage facilities for 554 thousand tons of grain and oilseeds.
At the end of 2021, IMC increased its net profit by 2.5 times compared to 2020 – up to $78.71 million, EBITDA – by 53%, up to $110.35 million, revenue – by 12.6%, up to $181.69 million
In 2021, IMC sold 536.10 thousand tons of corn (-12.2% compared to 2020), wheat – 117.97 thousand tons (-0.1%), sunflower – 85.82 thousand tons ( -1.2%).
The chairman of the board of directors of IMC agricultural holding, Oleksandr Petrov, for the period on December 27-30 bought 99,742 shares of the company at a price of PLN32.28 per share for a total of PLN3.22 million ($793,020 at the rate of the National Bank of Poland), thereby increasing his share in the charter capital of the agricultural holding to 81.21%, according to the website of the Warsaw Stock Exchange.
According to the group of companies, Petrov personally, as well as through his companies Richmarket Investments Ltd and Agrovalley Limited, owns shares in IMC in the amount of 26,945,415.
The IMC share price did not change over the week, remaining at the level of PLN32.3, and since the beginning of the year it has increased 1.7 times.
As reported, in 2020, the agricultural holding increased its net profit 4.3 times compared to 2019 – to $31.71 million, EBITDA – 1.8 times, to $71.84 million, revenue decreased by 5% – to $161.39 million.
IMC in 2020 sold 610,930 tonnes of corn (less by 14% compared to 2019), wheat – 118,060 tonnes (more by 54%), sunflower – 86,830 tonnes (more by 7.1%), soybeans – 1,310 tonnes (reduction by 25 times).
In May 2021, the company decided to pay 3.4 times more dividends for 2020 than in 2019 – EUR20.57 million, or EUR0.62 per share.
The agricultural holding specializes in the cultivation of grains, oilseeds and milk production in Ukraine. It processes about 123,300 hectares of land in Poltava, Chernihiv and Sumy regions. It owns capacities for storing 554,000 tonnes of grain and oilseeds.
Board Chairman of IMC agricultural holding Oleksandr Petrov on May 24 bought 60,000 shares of the company at a price of PLN 27.99 per share for a total of PLN 1.68 million ($458,470 at the rate of the National Bank of Poland as of May 26), thereby increasing his share in the charter capital to 79.86%.
According to the report of IMC on the website of the Warsaw Stock Exchange on Wednesday, Petrov personally and through his companies Richmarket Investments Ltd and Agrovalley Limited owns 26,437,463 shares of IMC.
According to the Warsaw Stock Exchange, since the beginning of the year, the IMC share price has increased by 51.2%, from PLN 18.25 to PLN 27.60, and by 2.4 times over the year (on May 24, 2020, the IMC share price was PLN 11.50).
Agroholding IMC specializes in the cultivation of grain, oilseeds and milk production in Ukraine. It processes about 123,300 hectares of land in Poltava, Chernihiv and Sumy regions. It owns facilities for storing 554,000 tonnes of grain and oilseeds.
The IMC agricultural holding posted a net profit of $33.17 million in January-September 2020, which is 1.8 times more than in the same period in 2019.
According to the company’s report on the website of the Warsaw Stock Exchange, IMC’s revenue for this period decreased 4%, to $113.84 million.
The holding’s gross profit in the first nine months of 2020 increased 47%, to $71.42 million, operating profit grew by 2.2 times, to $49.12 million.
The company’s EBITDA for the reporting period increased 1.6 times compared to January-September 2019 and amounted to $64.71 million.
As of September 30, 2020, the company’s noncurrent liabilities amounted to $100.06 million versus $108.95 million at the end of September last year, current liabilities stood at $68.85 million ($89.03 million).
After the reporting period, IMC repaid loans, borrowings and interest in the amount of $2.05 million and received loans and borrowings in the amount of $0.46 million.
According to the report, revenue from wheat sales for the reporting period increased 35%, to $17.19 million, from sunflower it grew by 121%, to $16.62 million, cattle – by 181%, to $0.3 million, revenue from the sale of corn fell by 17%, to $77.13 million, milk – by 9%, to $1 million, soybeans – by 80%, to $0.44 million.
IMC specializes in the cultivation of grain, oilseeds and milk production in Ukraine.
The board of directors of IMC agricultural holding has announced payment of interim dividends to the company’s shareholders in the amount of EUR0.18 per share.
According to the company’s statement on the Warsaw Stock Exchange (WSE), dividends will be paid in euros on August 28, 2020.
According to the WSE, the share price of IMC on August 14 fell by 1.77%, to PLN11.1 per share.
IMC specializes in cultivation of grain, oilseeds and milk production in Ukraine. The agricultural holding cultivates about 123,300 hectares of land in Poltava, Chernihiv and Sumy regions. It owns capacities for storage of 554,000 tonnes of grain and oilseeds.
In 2019, IMC agricultural holding posted $7.32 million in net profit, which is 3.8 times less than in 2018. IMC’s revenue for this period increased by 29%, to $169.6 million, of which $ 142.67 million is export.
IMC agricultural holding in January-September 2019 saw $18.35 million in net profit, which is 43% less than a year ago.
According to a company report on the Warsaw Stock Exchange (WSE), revenue over the period grew by 46%, to $118.77 million.
Gross profit fell by 19%, to $48.54 million, and operating profit – by 42%, to $22.81 million.
Earnings before interest, taxes, depreciation and amortization (EBITDA) over the period fell by 21%, to $39.96 million.
As of September 30, 2019 noncurrent liabilities of the company totaled $108.95 million compared with $24.93 million as of late September 2018. Current liabilities reached $89.03 million ($81.39 million).
After the reporting period, IMC repaid loans and interest in the amount of $4.72 million and received loans in the amount of $2.85 million.
According to the document, revenue from the sale of corn for the reporting period increased 54%, to $93.34 million, wheat 2.2 times, to $12.77 million, soybeans 22%, to $2.22 million, milk 12%, to $1.13 million. At the same time, revenue from the sale of sunflower decreased 14%, to $7.52 million.
IMC specializes in growing grains, oilseeds and milk production in Ukraine. The agricultural holding processes about 130,000 hectares of land in Poltava, Chernihiv, and Sumy regions. It owns storage capacities of 554,000 tonnes of grains and oilseeds.
