The agricultural division of one of the largest grain market operators in Ukraine, JV Nibulon LLC, reported EBITDA of $24.855 million in the 2024 season, its press service said on Facebook.
It is noted that this became possible due to the reform, which provided for a change in philosophy with a focus on efficiency and profitability through investment and the introduction of new technologies.
“The results of the season confirm the effectiveness of changes in approaches to agricultural production, introduction of new technologies and strategic reorganization. In the future, Nibulon plans to continue developing its agricultural business, focusing on increasing yields and implementing innovative solutions in production, gradually expanding its land bank,” the agricultural holding emphasized.
The press service reminded that last year Nibulon harvested almost 274 thousand tons of grain from an area of 51.28 thousand hectares, which is 115 thousand tons more than the previous year.
The main crop that brought in $16.097 million was corn, whose harvest reached 190.4 thousand tons, harvested from an area of 23.7 thousand hectares.
The agroholding added that the clusters in Cherkasy and Mykolaiv regions failed to achieve high yields, with an average of 6 tons/ha. Instead, high yields were achieved in the Kamianets-Podilskyi and Khmilnyk clusters due to corn and soybeans, which offset the shortfall in other regions.
Nibulon JV LLC was established in 1991. Prior to the Russian military invasion, the grain trader had 27 transshipment terminals and crop reception complexes, a one-time storage capacity of 2.25 million tons of agricultural products, a fleet of 83 vessels (including 23 tugs), and owned the Mykolaiv Shipyard.
“Before the war, Nibulon cultivated 82 thousand hectares of land in 12 regions of Ukraine and exported agricultural products to more than 70 countries. In 2021, the grain trader exported the highest ever volume of 5.64 million tons of agricultural products and supplied record volumes to foreign markets in August – 0.7 million tons, in the fourth quarter – 1.88 million tons, and in the second half of the year – 3.71 million tons.
It is currently operating at 32% of capacity, has created a special unit to clear agricultural land of mines, and was forced to move its headquarters from Mykolaiv to Kyiv.
One of the largest grain market operators in Ukraine, Nibulon JV LLC, is entering new markets in the Middle and Upper Danube, expanding its operations in the region and offering a full cycle of grain and metal exports, as well as cargo transportation of all types of goods via the Danube, the grain trader’s press service reported on Facebook.
The agricultural holding reminded that the first steps in the Middle and Upper Danube markets were voyages with metal products on the routes Izmail – Lom (Bulgaria) and Izmail – Smederevo (Serbia), which were carried out by the tugs Pereyaslavsky and Kozatsky using barges of its own production. These shipments confirmed the company’s readiness to work efficiently with various categories of cargo, opening up new business opportunities in Bulgaria, Serbia, Romania and other countries in the Danube region.
“Our fleet is capable of transporting various types of cargo, and this is just the beginning. We offer comprehensive solutions to the Balkan business: grain exports combined with our logistics on the Danube to Constanta, as well as river transportation of any goods between the ports of the region,” said Sergey Kalkutin, Nibulon’s Logistics Director.
Nibulon assured that expansion to the Middle and Upper Danube is part of the agricultural holding’s long-term strategy aimed at developing international river logistics.
Currently, the agricultural holding is ready to offer a competitive alternative to traditional ways of supplying grain and other cargoes. This includes grain exports to 75 countries using its own river fleet, cargo transportation on the Danube for the agricultural, metallurgical and construction sectors, and flexible terms of cooperation: DAP, EXW, FCA, FOB, real-time online cargo tracking, international experience and reputation as a reliable partner.
“Thanks to its own modern fleet and efficient logistics, Nibulon guarantees stable and safe transportation on the Danube, which opens up access to new markets,” the agricultural holding emphasized.
Nibulon JV LLC was established in 1991. Prior to the Russian military invasion, the grain trader owned 27 transshipment terminals and crop reception complexes, facilities for simultaneous storage of 2.25 million tons of agricultural products, a fleet of 83 vessels (including 23 tugs), and the Mykolaiv Shipyard.
“Before the war, Nibulon cultivated 82 thousand hectares of land in 12 regions of Ukraine and exported agricultural products to more than 70 countries. In 2021, the grain trader exported the highest ever 5.64 million tons of agricultural products, reaching record volumes of supplies to foreign markets in August – 0.7 million tons, in the fourth quarter – 1.88 million tons, and in the second half of the year – 3.71 million tons.
Currently, the grain trader is operating at 32% of capacity, has set up a special unit to clear agricultural land of mines and had to move its headquarters from Mykolaiv to Kyiv.
BULGARIA, CARGO TRANSPORTATION, Danube, NIBULON, ROMANIA, SERBIA
“Nibulon is now one of the three largest grain exporters in Ukraine and has been profitable for two and a half years, with EBITDA of approximately $68 million in 2024, Andriy Vadatursky, owner of one of the largest grain market operators in Ukraine, JV Nibulon LLC, told NV in an interview.
He noted that this figure is slightly lower than the agricultural holding planned due to difficulties in the second half of the year, and added that in a few days he will have the exact figure of financial performance for 2024.
Commenting on the information about the increase in the share of Nibulon’s own fleet in 2024 from 26% to 55%, and the volume of transportation from 278 thousand tons to 404 thousand tons, Vadatursky reminded that the company was built on investments in alternative ways of delivering products, in particular, in water transport. Accordingly, elevators were built on the Dnipro River and the Southern Bug River.
“Now all this is standing still. Kherson is under fire, Mykolaiv is closed. The fleet has nowhere to work. More than 100 ships are blocked. Some elevators, even in the occupied territory, are left without water. The
Kakhovka dam was broken in May 2023. The prospect of returning was taken away from us. I can’t imagine that the river (transportation by the Dnipro) will work for 5-10 years, even after the victory,” he said.
To solve this problem, Nibulon leased vehicles from Scania (Sweden), increased the number of vehicles and, of course, optimized its operations to use its own vehicles as much as possible.
“We have 138 new vehicles in total. We have purchased about 70 vehicles, I think, for EUR 17 million. Denmark also helped us. They take care of Mykolaiv region. For example, we got a loan from EIFO. Denmark gave us a 14-year loan for agriculture. (…) We received about EUR12.5 million. We purchased German machinery,” said the owner of the agricultural holding.
Mr. Vadatursky added that foreign investors are extremely cautious about investing in Ukraine, while bureaucratic Europe is very slow to change course and spends a lot of time on simple things.
JV Nibulon LLC was established in 1991. Prior to the Russian military invasion, the grain trader had 27 transshipment terminals and crop reception complexes, a one-time storage capacity of 2.25 million tons of agricultural products, a fleet of 83 vessels (including 23 tugs), and owned the Mykolaiv Shipyard.
“Before the war, Nibulon cultivated 82 thousand hectares of land in 12 regions of Ukraine and exported agricultural products to more than 70 countries. In 2021, the grain trader exported the highest ever volume of 5.64 million tons of agricultural products, reaching record volumes of supplies to foreign markets in August – 0.7 million tons, in the fourth quarter – 1.88 million tons, and in the second half of the year – 3.71 million tons.
Nibulon’s losses due to Russia’s full-scale military invasion in 2022 exceeded $416 million.
Currently, the grain trader is operating at 32% of capacity, has created a special unit to clear agricultural land of mines, and was forced to move its headquarters from Mykolaiv to Kyiv.
The closure of the Mykolaiv seaport has brought the shipbuilding industry to a standstill and halted shipping on the E-40 river routes (Dnipro and Southern Bug), so the development of alternative export routes is an urgent need for food security in the world, said Mykhailo Rizak, Director of Government Relations at Nibulon JV LLC.
“Mykolaiv’s port facilities are ready to resume operations as soon as a political decision is made to open them, which will increase transshipment competition and reduce the cost of export logistics. More than 100 vessels are still blocked in the Mykolaiv port hub, including 30 foreign sea vessels and 70 vessels for inland waterways,” the agroholding’s press service quoted him as saying at a meeting with French Ambassador to Ukraine Gael Veyer.
Rizak noted that the evacuated vessels, which were previously used for transportation, are now idle and looking for new water routes around the world, including the Danube River.
“The development of alternative export routes is no longer a matter of choice, but an urgent need for food security in the world. Today, the Danube ports are strategic for Ukraine’s economic security, and we must do everything possible to maintain their competitiveness,” Rizak said.
Nibulon representatives paid special attention to the tariff policy of Ukrzaliznytsia during the negotiations. They emphasized that with the opening of Odesa’s deep-water ports, the cost of transportation through the Danube ports has become at least $5 per ton more expensive, and with the announced tariff indexation, the difference could be up to $7.
The indexation of Ukrzaliznytsia’s tariffs will either be a lifeline for water transportation on the Danube River or an unbearable dead anchor, the agricultural holding company is confident.
Rizak pointed to the possibility of indexing rail transportation without applying it to routes to/from railway stations near Danube ports.
“This will make it possible to equalize the Danube’s competition with deep-water seaports and stimulate further development of the Danube infrastructure, which has been supported by the USAID Economic Support for Ukraine project and other international donor programs. Thus, Ukraine will ensure sustainable exports without losing money in the event of an aggravation of the security situation in the Black Sea, and international partners will see the real implementation of the European Commission’s decision to build solidarity routes,” Nibulon emphasized.
The French Ambassador highly appreciated the work of Nibulon and expressed his readiness to assist in resolving important issues at the international level.
Nibulon was established in 1991. Prior to the Russian military invasion, the grain trader had 27 transshipment terminals and crop reception complexes, a one-time storage capacity of 2.25 million tons of agricultural products, a fleet of 83 vessels (including 23 tugs), and owned the Mykolaiv Shipyard.
“Before the war, Nibulon cultivated 82 thousand hectares of land in 12 regions of Ukraine and exported agricultural products to more than 70 countries. In 2021, the grain trader exported the highest ever 5.64 million tons of agricultural products, reaching record volumes of supplies to foreign markets in August – 0.7 million tons, in the fourth quarter – 1.88 million tons, and in the second half of the year – 3.71 million tons.
The grain trader is currently operating at 32% of capacity, has set up a special unit to clear agricultural land of mines and had to move its headquarters from Mykolaiv to Kyiv.
The agricultural production department of one of the largest grain market operators in Ukraine, Nibulon JV LLC, has fertilized winter crops on 7820 hectares, which is 48.3% of the total area planted for the 2025 harvest, the agricultural holding’s press service reports on Facebook.
“Currently, we are actively applying ammonium nitrate, one of the most effective nitrogen fertilizers that provides plants with the necessary macronutrients for healthy growth and development. Timely application of this fertilizer significantly affects the final yield of winter crops,” the agricultural holding explained.
Nibulon plans to fertilize a total area of 16.2 thou hectares with ammonium nitrate, including 8.6 thou hectares of winter wheat and 7.6 thou hectares of winter rapeseed. In addition to ammonium nitrate, ammonium sulfate will be added to improve plant nutrition efficiency.
Currently, winter crops have been fertilized on a total area of 7,820 hectares, including 5,602 hectares in Mykolaiv cluster, 1,970 hectares in Central cluster and 248 hectares in Kamianets-Podilskyi cluster.
After fertilizing winter crops, the fields will be harrowed and plant protection products will be applied.
“The implementation of these agrotechnical measures in the complex will ensure the creation of optimal conditions for the growth and development of winter crops, which, in turn, will help to increase their yield and maintain high quality products,” the agricultural holding summarized.
Nibulon JV LLC was established in 1991. Prior to the Russian military invasion, the grain trader had 27 transshipment terminals and crop reception complexes, a capacity for simultaneous storage of 2.25 million tons of agricultural products, a fleet of 83 vessels (including 23 tugs), and owned the Mykolaiv Shipyard.
“Before the war, Nibulon cultivated 82 thousand hectares of land in 12 regions of Ukraine and exported agricultural products to more than 70 countries. In 2021, the grain trader exported the highest ever volume of 5.64 million tons of agricultural products, reaching record volumes of supplies to foreign markets in August – 0.7 million tons, in the fourth quarter – 1.88 million tons, and in the second half of the year – 3.71 million tons.
Nibulon’s losses due to Russia’s full-scale military invasion in 2022 exceeded $416 million.
Currently, the grain trader is operating at 32% of capacity, has created a special unit to clear agricultural land of mines, and was forced to move its headquarters from Mykolaiv to Kyiv.
IT specialists of one of the largest grain market operators in Ukraine, JV Nibulon LLC, together with the IT-Enterprise team, have completed the restart and digitalization of the quantitative and qualitative accounting of the elevator network, the grain trader’s press service reported on its Facebook page.
According to the report, the project to optimize quantitative and qualitative accounting included improvement of business processes for grain accounting, additional processes for logistics management and costing.
“The establishment of a new efficient version of the quantitative and qualitative accounting business process made it possible to automatically track the movement of grain, its key indicators, and the funds spent on processing and transportation from the moment it arrives at the elevator to the shipment to the end consumer. This allows us to calculate the exact cost price and, accordingly, the profitability. And most importantly, we understand what impact can be made at each stage to improve financial and service performance,” said Nibulon’s IT Director Mykola Riasko.
The ultimate goal of the project is to switch to a fully digital elevator model, the principle of which is based on managing and coordinating all processes with digital systems. This concept is gradually being scaled up to all 23 Nibulon elevator complexes.
“If we describe the results of the quantitative and qualitative accounting digitalization project in three theses, firstly, it is the simplification and automation of business processes, and the acceleration of their passage. Secondly, it is the accuracy of accounting, which ensures the clarity and relevance of the company’s financial position. Thirdly, it is more customer-oriented, as the process of providing services has become better and faster,” emphasized Ryasko.
Nibulon added that the digitalization project also contributed to the unification of accounting processes at all branches of the company and improved integration with equipment and third-party systems, which ensured effective management of business processes.
JV Nibulon LLC was established in 1991. Prior to the Russian military invasion, the grain trader had 27 transshipment terminals and crop reception complexes, capacity for simultaneous storage of 2.25 million tons of agricultural products, a fleet of 83 vessels (including 23 tugs), and owned the Mykolaiv Shipyard.
“Before the war, Nibulon cultivated 82 thousand hectares of land in 12 regions of Ukraine and exported agricultural products to more than 70 countries. In 2021, the grain trader exported the highest ever volume of 5.64 million tons of agricultural products, reaching record volumes of supplies to foreign markets in August – 0.7 million tons, in the fourth quarter – 1.88 million tons, and in the second half of the year – 3.71 million tons.
Nibulon’s losses due to Russia’s full-scale military invasion in 2022 exceeded $416 million.
Currently, the grain trader is operating at 32% of capacity, has created a special unit to clear agricultural land of mines, and was forced to move its headquarters from Mykolaiv to Kyiv.
