Specialists of the production and elevator areas of Prometey Group of Companies received new Renault cars.
Three Renault Express will be used by mechanics and agronomists who service the company’s production facilities, and the keys to two Renault Duster got regional directors of the elevator business.
These service cars will increase the efficiency of Prometey middle managers, making the fulfillment their duties more productive and operative.
The cars were purchased at the expense of the leasing limit from OTP-LEASING, the total amount of which is $3 mln.
Prometey Group has received a EUR1.27 million loan from ULF-Finance LLC to purchase vehicles, the agricultural holding’s press service said.
“The company continues to expand its own vehicle fleet to minimize dependence on hired vehicles. In this way, we solve the problem of vehicle shortages during peak loads, such as during the harvest period, and avoid additional costs,” the press service quoted Maxim Voloshin, Prometey financial economist, as saying.
According to the report, Prometey Group plans to receive DAF tractors, Wielton trailers, cars and other automotive equipment from the financial institution.
In total, 23 agreements are in place between Prometey Group and ULF-Finance LLC.
Prometey Group provides storage, processing and logistics services for agricultural crops. Prior to the Russian aggression, it owned 34 elevators in Mykolaiv, Kirovohrad, Kyiv, Khmelnytskyi, Zaporizhzhia, Sumy, Odesa, Kherson, and Dnipro regions.
By the end of 2021, the group planned to generate $45 million in EBITDA, while in 2020 this figure reached $32.6 million, and in 2019 – $30.5 million.
“In 2023, Prometey plans to increase its land bank from 20 thousand hectares to 50 thousand hectares, and in the long term, to increase it to 100 thousand hectares.
Prometey Group has completed the early grain harvest and harvested 45 thousand tons of grain from 6.5 thousand hectares in Mykolaiv region, the company’s press service said.
“This year’s weather conditions have been favorable for grain growing in southern Ukraine, so we have an excellent result. At the same time, the result was facilitated by the coordinated work of the team and technical preparation for threshing,” the statement said.
Prometey next step will be to prepare fields for sowing winter rape. In particular, the company is purchasing fertilizers, tilling the soil and preparing machinery for the sowing season.
Prometey Group provides storage, processing and logistics services for crops. Prior to the Russian aggression, it owned 34 elevators in Mykolaiv, Kirovohrad, Kyiv, Khmelnytskyi, Zaporizhzhia, Sumy, Odesa, Kherson, and Dnipro regions.
By the end of 2021, the group planned to generate $45 million in EBITDA, while in 2020 this figure reached $32.6 million, and in 2019 – $30.5 million.
“In 2023, Prometey plans to increase its land bank from 20 thousand hectares to 50 thousand hectares, and in the long term, to increase it to 100 thousand hectares.
In an unstable economy, bank confidence remains an important component of doing business in Ukraine. OTP Leasing remains a reliable partner of Prometey.
The acquisition of freight transport through the leasing program from OTP Bank allowed the company to receive long-term investments in difficult military times.
As Andriy Pavlushin, CEO of OTP Leasing, explains: “Today we have 2.5 thousand customers. It is clear that first of all we try to support them and cooperate with them. A good example is the Prometey company. It has many elevators across the country. And when the company decided to increase the number of trucks, we helped them do it. And now this synergy pays off well – Prometey accepts grain at its elevators and has the opportunity to export it.”
As a financial institution, OTP Leasing faces different cases of payments. According to Andriy Pavlushyn, “in any case, one of the main factors is the integrity of the client. For example, we have not had any problems with Prometey, they pay for leasing on time.”
In the near future, Prometey plans to expand its grain carrier fleet to 100 vehicles.
Prometey Group has continued cooperation with Vostok Bank (Kyiv) and MTB Bank (Odesa), which have each allocated UAH 60 million to replenish working capital and implement targeted programs of the group’s production companies, the group’s press service said.
“Since the beginning of the war, these banks were the first to provide financial support to Ukrainian agricultural producers, including our group. We highly appreciate the trust placed in us in the face of a full-scale invasion and economic uncertainty that the agricultural sector faced in February 2022. The new financing will be a good help for our farmers during the harvest season,” Natalia Dudnikova, Deputy Head of Corporate Finance at Prometey, commented on cooperation with banks, as quoted by the press service.
Prometey Group provides storage, processing and logistics services for agricultural crops. Prior to the Russian aggression, it owned 34 elevators in Mykolaiv, Kirovohrad, Kyiv, Khmelnytskyi, Zaporizhzhia, Sumy, Odesa, Kherson, and Dnipro regions.
By the end of 2021, the group planned to generate $45 million in EBITDA, while in 2020 this figure reached $32.6 million, and in 2019 – $30.5 million.
“In 2023, Prometey plans to increase its land bank from 20 thousand hectares to 50 thousand hectares, and in the long term, to increase it to 100 thousand hectares.
Harvesting of current crops in the Prometey Group started with winter barley. Areas with this crop are located mainly in Bashtanka district of Nikolaev region.
Harvesting has already been carried out on an area of 216 hectares, with an average barley yield of 78.5 centners per hectare.
“This year’s harvest has pleasantly surprised us – says agronomist-technologist Ilya Troitsky, – and although Bashtanka district is famous for barley, it is traditionally grown here, this season’s figures exceeded expectations”.
One day Prometey agrarian enterprises will start harvesting winter wheat.
