In 2020, the KSG Agro agricultural holding reduced its net profit by 3.2 times compared to 2019 – to $1.27 million, while increasing EBITDA by 3.1 times – $6.532.
According to an unaudited report of the holding on the website of the Warsaw Stock Exchange, its revenue over the past year decreased by 11% – to $21.34 million.
At the end of 2020, KSG Agro increased its gross profit by 2.6 times – up to $6.59 million, and operating profit by 11.8 times – up to $4.87 million.
KSG Agro agricultural holding increased its land bank by 6.7%, to 23,900 hectares, the company’s press service said on Wednesday.
According to the report, the agricultural holding has increased its land bank due to 1,500 hectares of land shares in village Strilkove (Henichesk district, Kherson region), where it plans to grow crops.
The exact names of the products are not indicated.
The vertically integrated holding KSG Agro is engaged in pig breeding and production, storage, processing and sale of grain and oilseeds.
Over the nine months of 2020, the agricultural holding posted $4.77 million in net profit, which is 52% less than in the same period in 2019, revenue decreased by 17%, to $14.67 million.
KSG Agro agricultural holding in 2020 increased export of agricultural products to African and Asian markets by 46%, to 7,770 tonnes, the holding’s press service has said.
“Last year, we expanded our presence in export African and Asian markets. In the context of the quarantine crisis, the issue of diversifying supplies and expanding the range of products supplied is especially acute,” Serhiy Kasyanov, the head of the board of directors of KSG Agro, said.
According to the agricultural holding, in 2020, the export of wheat flour to Libya increased by 3.6 times compared to 2019, to 3,000 tonnes.
It is clarified that KSG Agro exported 172 tonnes of sugar to Libya, 4,000 tonnes of corn to Malaysia, 600 tonnes of barley to Oman.
KSG Agro is a vertically integrated holding. It is engaged in pig breeding, production, storage, processing and sale of grain and oilseeds.
For the nine months of 2020, the agricultural holding received $ 4.77 million in net profit, which is 52% less than in the same period in 2019, revenue decreased by 17%, to $ 14.67 million.
KSG Agro agricultural holding increased the multicurrency credit line at TAScombank (Kyiv) from $12 million to $18.5 million, the company said in a report published on the website of the Warsaw Stock Exchange on Monday.
“We can use these lines for sowing and harvesting […] In addition, one of the goals of increasing the credit line is to refinance foreign exchange obligations and hedge currency risks,” Chairman of the Board of Directors of KSG Agro Serhiy Kasianov said.
He said that part of the funds is also planned to be used for further reconstruction and modernization of the pig breeding farm in the village of Nyva Trudova (Dnipropetrovsk region).
According to the report, hryvnia equivalent for the volume of the credit line is UAH 522 million, the term is three years. The interest rate was not disclosed.
As reported, in April 2020, KSG Agro increased the existing credit line at TAScombank by almost $4 million, to $12 million.
The vertically integrated holding KSG Agro is engaged in pig breeding and production, storage, processing and sale of grain and oilseeds.
The KSG Agro agricultural holding saw $4.77 million in net profit in January-September 2020, which is 52% less than in the same period in 2019.
According to an unaudited report of the holding, published on the Warsaw Stock Exchange, its revenue in the first nine months of 2020 decreased 17%, to $14.67 million.
In January-September of this year, KSG increased its gross profit 3.6 times compared to the same period in 2019, to $6.77 million, operating profit – 5.4 times, to $13.61 million. EBITDA in the reporting period grew 3.8 times, to $14.71 million.
Revenue and cost of sales are both lower by 17% and 36%, respectively, and primarily in the crop production segment, which is more affected by seasonality and weather conditions. Total revenue in the crop segment in the first nine months of 2020 was $6.9 million, compared to $9.7 million for the same period in 2019.
In January-September 2020, KSG’s revenue in the livestock segment decreased 0.5%, to $7.4 million, As part of the “other operations” segment revenue grew 1.7 times, to $0.4 million. Total pig sales in the first nine months of 2020 year amounted to 80,000 heads.
“The Board of Directors of the company does not currently provide for the significant adverse effects of the coronavirus COVID-19 epidemic on the group’s financial results in 2020,” the company said in its report.
The vertically integrated holding KSG Agro is engaged in pig breeding and production, storage, processing and sale of grain and oilseeds.
KSG Agro agricultural holding intends to achieve a 15% increase in pig breeding in live weight for 2020 compared to 2019.
“Increasing production is our strategic goal. Moreover, the market situation and increasing demand contribute to this. Therefore, our plans this year are to increase pig breeding products in live weight by 15% compared to the same indicator in 2019,” KSG Agro Board Chairman Serhiy Kasyanov told Interfax-Ukraine.
According to him, the agricultural holding did not revise investment plans for 2020 due to quarantine and the uncertain economic situation in Ukraine.
“These plans are valid and we did not change them. The planned investment for the year to continue the reconstruction of the main industrial complex and the start of the design of the genetic reproducer will be about UAH 25 million. The genetic reproducer will produce Danish boars and sows, which will allow us to reduce costs and start sales to other customers,” the owner of KSG Agro said.
Kasyanov said that in 2020 the holding plans to increase exports of manufactured products.
“In the first quarter of this year, we exported 1,356 tonnes of wheat flour to Libya. Export volumes are growing. For comparison, we shipped 720 tonnes of wheat flour for 2019. So far, despite the crisis, we plan to increase the export of our products. In the second quarter we intend to export 2,000 tonnes of wheat flour, some 1,000 tonnes of barley, some 500 tonnes of refined sunflower oil and some 1,000 tonnes of other goods,” the KSG Agro board chairman said.
KSG Agro, a vertically integrated holding, is engaged in pig breeding and production, storage, processing and sale of grain and oilseeds. As of June 30, 2019, the land bank of the holding in Ukraine amounted to about 27,000 hectares.
