IMC Agro Holding has completed the harvesting of corn in 2023 and achieved a record yield of 12.4 tons/ha, which is 1.3 tons/ha higher than the previous record set in 2018, said Alex Lissitsa, SEO of the agricultural holding.
“A total of 574 thousand tons were harvested from an area of 46.3 thousand hectares, with an average corn yield of 12.4 tons/ha, a record for all years of the company’s operations, which is 1.3 tons/ha higher than the previous record set in 2018,” he wrote on Facebook.
IMC is an integrated group of companies operating in Sumy, Poltava and Chernihiv regions (north and center of Ukraine). It controls 120.3 thousand hectares (120.0 thousand hectares under cultivation). As of September 30, 2023, the group operated in two segments: crop production and elevators and warehouses.
The agroholding’s net loss in 2022 amounted to $1.1 million against a net profit of $78.7 million a year earlier, with a 37.3% decrease in revenue to $114 million. EBITDA decreased threefold to $36.2 mln.
For the 2024 harvest, IMC sowed winter wheat on 20.3 thou hectares.
In the first nine months of 2023, IMC posted a net loss of $2.25 million, compared to $4.67 million in net profit for the same period in 2022. The agroholding’s revenue increased by 59.8% to $98.78 million, including exports, which increased by 24.4% to $70.23 million. A significant increase in production costs – by 55.6% to $92.4 million – led to a decrease in gross profit by 33.3% to $29.89 million. EBITDA in the first nine months of 2023 amounted to $13.85 million, which is 2.7 times less than in the first nine months of 2022. The report notes that the reason for the decline was the decline in harvest prices in 2023.
CORN, HARVESTING, IMC, RECORD
A record number of electric cars – more than 37 thousand – were imported to Ukraine in 2023. This is 4 times more than in 2021. The most popular electric car brands are Volkswagen, Tesla, and Nissan. And Lviv region is the leader in the number of registrations of such cars.
A record 37,953 electric cars were imported to Ukraine in 2023. This is 4 times more than in 2021, when 8,996 electric cars were imported.
In total, electric cars accounted for 10% of the total number of cars imported to Ukraine in 2023. For comparison, in 2021, the share of electric cars was only 1.2%.
The largest number of imported electric vehicles was registered in Lviv region – 5,133 cars. Kyiv is in second place with 4,913 electric vehicles, and Odesa region is in third place with 3,412 electric cars registered there.
The most popular electric car brands in Ukraine in 2023 were Volkswagen, Tesla, Nissan, Renault, and Honda.
Nissan Leaf has been the most popular electric car model for 4 years in a row. More than 5 thousand of these cars were imported to Ukraine last year. Volkswagen ID.4 is in second place in terms of demand – 3,770 cars. Tesla Model 3 rounds out the top three with 3,291 electric cars.
The oldest electric car imported to Ukraine in 2023 was a Citroen Saxo made in 2000.
Record number of electric cars imported to Ukraine in 2023 – Opendatabot
In the first half of 2023-2024 marketing year (MY, July-December), Ukraine set the record for rapeseed oil exports – 356 thsd tonnes, up six times compared to the same period last year, APK-Inform news agency reported.
“The significant increase in the rate and volume of exports of this product in the current season was primarily due to the high demand for rapeseed oil on the world market amid attractive prices. Difficulties with sunflower procurement during the off-season also encouraged Ukrainian mills to increase rapeseed processing,” the analysts explained.
According to their information, the main volumes of Ukrainian rapeseed oil shipments during six months of 2023-2024 MY were to the EU countries, where 54% of Ukrainian rapeseed oil was supplied, and China – 31%.
The world’s largest cruise operator Carnival Corp. earned record revenues in the fourth quarter of fiscal year 2023, but ended the period with a slight loss.
According to the company’s press release, the net loss in September-November amounted to $48 million, or $0.04 per share, compared to $1.6 billion, or $1.27 per share, in the same period last year. Adjusted loss decreased to 7 cents from 85 cents per share.
Adjusted EBITDA was positive and amounted to $946 million against minus $96 million a year earlier.
Revenue reached a record $5.397 billion, up from $3.839 billion in the fourth quarter of FY2022.
Analysts on average estimated an adjusted loss of 13 cents per share on revenue of $5.3 billion, according to FactSet.
Revenue from ticket sales in the fourth fiscal quarter increased by 55% to $3.51 billion, and from onboard sales by 20% to $1.886 billion.
For the entire fiscal year 2023, Carnival also received record revenues of $21.593 billion, up from $12.168 billion a year earlier. Adjusted EBITDA amounted to plus $4.23 billion versus minus $1.68 billion a year earlier, adjusted net profit – $1 million versus a loss of $5.51 billion in FY2022.
In FY2024, the company forecasts adjusted EBITDA of $5.6 billion (including about $800 million in the first quarter) and adjusted net income of $1.2 billion (including a loss of $280 million in the first quarter).
The company’s share price is up 3.5% in Thursday trading.
Dneprovagonmash, Ukraine’s largest railcar manufacturer, controlled by businessman Sergiy Tigipko’s TAS Financial and Industrial Group, ended January-September 2023 with a net profit of UAH 51.09 million, up 8.3 times compared to the same period in 2022.
According to the company’s interim financial statements published on Wednesday in the NSSMC’s information disclosure system, its net sales revenue decreased by 14.7% to UAH 724.62 million.
In January-September, the company increased its gross profit by 18.7% to UAH 96.9 million, earning UAH 53.5 million in operating profit (4.6 times more).
The report does not disclose the number of railcars produced and sold in the reporting period.
As before, the report mentions the risk of rising prices for components, materials and energy (material costs account for 80-90% of the cost of production) and lower prices for railcars as price risks for the company.
“Ongoing military operations, uncertainty of further developments, including the intensity or potential timing of the cessation of these actions, may significantly affect the economic situation in the country and, accordingly, the activities of Dneprovagonmash,” the report says.
As reported, in the first half of this year, DVM received UAH 57.85 million in net profit against almost UAH 25 million in losses for the same period last year, with net income growing by 17.2% to UAH 578 million.
Thus, in the third quarter of 2023, the company received a UAH 6.76 million loss against a UAH 31.14 million net profit in July-September 2022, with net income falling 2.4 times to UAH 146.61 million.
“Dneprovagonmash is one of Ukraine’s leading freight car design and manufacturing companies. Its annual production capacity is 9 thousand units.
As reported, an extraordinary meeting of shareholders of DVM JSC on July 25 decided to transform it into TAS Dneprovagonmash LLC.
In October of this year, in cooperation with Austrian partners, the company shipped the first lightweight modular freight cars (MultiBOX) intended for use on the EU railways as part of the TransANT innovation project.
In 2022, DVM’s net income increased by 77.3% to UAH 1 billion 108.7 million, with net profit of UAH 48.64 million compared to a loss of UAH 111.3 million a year earlier. At the same time, sales of railcars increased by 35% to 623 units, and production by 21% to 577 units.
TAS Group was founded in 1998 by businessman Tigipko. Its business interests include the financial sector (banking and insurance) and pharmacy, as well as industry, real estate, and venture capital projects.
The Ministry of Agrarian Policy and Food estimates the harvest of the 2023 season at 79 million tons, which is at least 7 million tons more than last season, Minister of Agrarian Policy Mykola Solsky said on the air of the United News marathon.
“In May, at the beginning of the sowing season, we thought we would have about 63-64 million tons. Then we raised the forecast to 67-68 million, then more – 70 million. Last year we had a result of 7 million tons, then 75 million tons. In the last two weeks, we have been talking about the harvest, which will probably be around 79 million, which is at least 7 million more than last year,” he said.
Mr. Solsky reminded that farmers are no longer concerned about yields and gross output, but rather about the price at which they can sell their crops.
“It is very important that we have the opportunity to sell at a higher price. It is important how much we can export. After all, we need to be able to export 5 million tons of grain every month,” the minister explained, adding that logistics are very expensive and grain is not cheap.
Mr. Solsky emphasized that the demand for logistics is now significantly higher than the supply, and pointed out the importance of balancing these indicators.
“We are trying to do our best to bring this balance closer to what is needed (by the farmer – IF-U), so that the price (of grain – IF-U) will rise,” the minister emphasized.
