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.
Agrovalley Limited, controlled by the chairman of the board of directors of IMC agricultural holding, Oleksandr Petrov, on May 27, 2019 acquired 56,573 shares of IMC S.A. (Luxembourg), increasing the share in the agricultural holding by 0.17 percentage points, to 72.68%.
According to the IMC report on the website of the Warsaw Stock Exchange (WSE), the purchase price of one share was PLN 14.10 ($3.67 at the rate of the National Bank of Poland on May 28).
Agrovalley Limited after the transaction increased the total stake to 24.174 million shares.
IMC agricultural holding has completed the spring sowing campaign on 104,100 ha compared with 105,200 ha in 2018.
According to a company press release, the sowing area under sunflower this year amounted to 22,800 hectares, under soybean – 10,800 hectares, under corn – 69,500 hectares. Also about 1,000 hectares were planted with fodder crops to meet the needs of the company’s dairy farming.
“In the current season, we managed to sow crops in almost optimal time period, despite the fact that sowing took place with certain pauses caused by weather conditions,” Chief Operating Officer of the IMC Oleksandr Verzhykhovskyi said.
IMC’s core business is cultivation of grains, oilseeds and milk production in Ukraine. The agricultural holding cultivates about 130,000 hectares of land in Poltava, Chernihiv, and Sumy regions. It owns storage facilities with a capacity of 554,000 tonnes of grains and oilseeds.
