IMK Agricultural Holding reduced its loan portfolio to $18 million by the end of 2025 and plans to reduce this figure to $10 million by the end of 2026, the company’s CEO Oleksandr Verzhikhovsky said at the Forbes Agro conference in Kyiv on Thursday.
“We have always had access to financing from international and Ukrainian banks and have actively used these opportunities. I remember the times in 2021 when we could get loans from Ukrainian commercial banks at 3-4% per annum in foreign currency. Of course, after the start of the full-scale invasion, financial institutions cannot offer such conditions, so we are gradually reducing our credit profile,” he said.
According to the CEO, the company is undergoing a long process of reducing its debt burden. To understand the dynamics, he noted that in 2014, the holding’s credit profile was $140 million. By the end of 2025, this figure had been reduced to $18 million. According to the company’s plans, provided the situation remains stable, the credit portfolio is planned to be reduced to $10 million by the end of 2026.
Against the backdrop of reduced lending, IMC switched to using its own earned funds to invest in its rolling stock and bring the company into compliance with environmental requirements. At the same time, in 2023, the holding became one of the few companies to attract a new loan from the EBRD in the amount of $11 million for the purchase of 75 grain cars to develop alternative export routes. Currently, these cars mainly provide internal logistics.
Verzhikhovsky also emphasized that cooperation with international financial institutions (IFC, EBRD) remains an important factor for IMC in improving the company’s status and the quality of corporate governance.
IMK Agroholding is an integrated group of companies operating in the Sumy, Poltava, and Chernihiv regions (northern and central Ukraine) in the crop production, elevators, and warehouses segments. The land bank is about 120,000 hectares, storage capacity is 554,000 tons for the 2023 harvest of 1.002 million tons.
In January-September 2025, IMC increased its net profit by 43% compared to the same period in 2024, to $67.5 million. The agricultural holding’s revenue for the reporting period decreased by 16% to $118.6 million, while gross profit increased by 6% to $93.2 million and normalized EBITDA increased by 24% to $88 million.
Avangard Agroholding LLC, parent company of Ukraine’s largest producer of poultry eggs, has reduced its net loss by 18.6 times in 2021 compared to 2020 to UAH 28.5 million.
According to the company’s report in the information disclosure system of the National Commission on Securities and Stock Market (NSCSM) on Monday, the company’s assets decreased last year by 19% to 20.71 billion UAH, while the unallocated loss decreased by 0.2% to 10.5 billion UAH.
According to the NKTSBFR, the net loss per common registered share of Avangard last year amounted to 0.00056 UAH.
According to the statement, on December 29, the annual shareholders’ meeting will be held on December 29, where shareholders are going to decide on offsetting the net loss incurred in 2021 at the expense of future profits.
As reported, Avangard said in March 2022 that it has incurred a loss of 1.5 billion hryvnias since the beginning of the Russian military invasion of Ukraine. Russian aggression led to the shutdown of a number of key poultry farms of the group, and chickens were left without food and died at the Chornobaivska poultry farm (Belozerska village, Kherson Region).
“Ukrlandfarming is one of the largest agricultural holdings in Eurasia. It grows crops, raises cattle, and distributes equipment, fertilizers and seeds. Its member Avangard is Ukraine’s largest producer of eggs and egg products.
Based on the results of work in the first half of 2022, IMC Agricultural Holding received $11.34 million in net profit, which is 6.8 times less than in the same period last year, according to the company’s report on the Warsaw Stock Exchange on Thursday.
According to him, the loss from exchange rate differences for the agrarian group in the first half of this year amounted to $2.55 million, while in January-June last year it received $2.11 million from changes in the exchange rate.
At the same time, the company’s EBITDA fell 3.2 times, to $28.98 million, with a 47% reduction in revenue, to $44.53 million. , up to $18 million.
According to the report, the total volume of IMC assets as of June 30, 2022 decreased by 9.1% compared to December 31, 2021 – to $214, short-term debt increased by 5.9%, to $66.8 million, while long-term debt increased by 2.8%, to $155.2 million.
The report also clarifies that 97.5% of all sales in the first half of this year came from corn, compared with 98.2% in the first half of last year, and the price of its sale rose marginally to $208 per ton from $205 per ton last year. year
In total, during the specified period, IMC sold 213 thousand tons of crops for a total of $43.83 million, including 208.8 thousand tons of corn for $43.35 thousand tons of corn (-48% compared to the first half of 2021 ), 645 tons of wheat for $201 thousand (an increase of 2 times), and 93 tons of sunflower for $40 thousand (-66%). In addition, the proceeds from the sale of milk and cattle meat brought the agricultural holding a total of $572,000.
The agricultural holding indicated that until August the Black Sea ports in Ukraine remained blocked for export activities. Although the IMC has developed alternative logistics chains for exporting grain through the seaports of other neighboring countries, such logistics are very complex, have numerous bottlenecks and are associated with high capital costs to create an efficient logistics infrastructure on new export routes, which explains the low volumes of grain exports since 24 February.
At the same time, the IMC noted that none of its critically important facilities received significant damage as a result of the war, all inventories are in good condition and in safe custody, and today all the group’s assets are located in de-occupied territories.
In addition, the IMC declares that there is no shortage of labor and the preservation of its personnel, including key and top managers, although 86 employees defend Ukraine in the ranks of the Armed Forces of Ukraine.
The agricultural holding specified that this year 73% of the company’s land bank was sown: 19.2 thousand hectares of sunflower, 50.2 thousand hectares of corn and 18.4 thousand hectares of winter wheat. Land in the Chernihiv region, where active hostilities were fought, is scheduled to return to production this fall.
As of August 21, IMC completed harvesting winter wheat, harvesting from 18.3 thousand hectares with an average yield of 6.7 t/ha, which is a record result for all the years of the company’s economic activity, and 18% higher than in 2021 year.
IMC specializes in the cultivation of cereals, oilseeds and milk production in Ukraine. It processes about 123.3 thousand hectares of land in the Poltava, Chernihiv and Sumy regions. It owns storage facilities for 554 thousand tons of grain and oilseeds.
At the end of 2021, IMC increased its net profit by 2.5 times compared to 2020 – up to $78.71 million, EBITDA – by 53%, up to $110.35 million, revenue – by 12.6%, up to $181.69 million
In 2021, IMC sold 536.10 thousand tons of corn (-12.2% compared to 2020), wheat – 117.97 thousand tons (-0.1%), sunflower – 85.82 thousand tons ( -1.2%).
KSG Agro agricultural holding will increase rapeseed crops this year by at least 22% from 820 hectares last year to at least 1,000 hectares in 2022, in order to increase the harvest of winter wheat, according to a press release from the group of companies on Monday.
At the same time, the cultivation of winter wheat in areas where rapeseeds were previously sown, allows to increase its yield by 5-10 tonnes per ha.
“Our strategy is to reach at least 1,000 hectares of cultivated areas under rapeseed. We harvest rapeseed in June, and until mid-September it allows us to prepare the soil well, having accumulated a sufficient amount of moisture in it. As a result, the wheat that we sow on these sown areas gives good shoots and has time to open up,” the press service of KSG Agro said, quoting Production Director Dmytro Emelchenko.
The similar decision allowed the agricultural holding in 2021 to get an increase in the yield of winter wheat at the level of 5-10 tonnes per ha compared to wheat sown after sunflower.
The vertically integrated holding KSG Agro is engaged in pig breeding, as well as in the production, storage, processing and sale of grain and oilseeds. Its land bank is about 21,000 hectares in Dnipropetrovsk and Kherson regions.
The major shareholder and the head of the board of directors of KSG Agro agricultural holding, Serhiy Kasyanov, who owns it through Olbis Investments Ltd. (Panama), on August 2 sold one million shares (6.66%) of the group of companies to two legal entities with Polish jurisdiction, after the transaction the share of Olbis Investments Ltd. amounted to 57.96% of the charter capital.
The press service of the agricultural holding told Interfax-Ukraine about this transaction on August 4.
“The buyers were Polish companies together with beneficiaries in the European Union. Within a few days we will agree on all the formalities and will be ready to jointly inform the market about our future plans,” the press service quoted Kasyanov as commenting on the deal.
He explained that prior to the conclusion of the agreement, Olbis Investments Ltd. owned 9.7 million shares of KSG Agro S.A (Switzerland), the parent company of the Ukrainian agricultural holding, which accounted for 64.62% of its charter capital. Following the transaction, the Panamanian company owns 8.7 million shares of KSG Agro S.A (57.96%).
The press service of the agricultural holding emphasized that through this transaction, KSG Agro intends to attract investors to the development of meat processing facilities and to enter the markets for finished livestock products.
“The selling price of the shares has not been disclosed, but it is not lower than the market price and corresponds to the weighted average price of the holding’s shares on the Warsaw Stock Exchange (WSE) over the past few months. The buyers of the shares were two companies with Polish jurisdiction, whose names have not yet been disclosed,” the press service said.
Thus, according to the three-month dynamics of the value of shares of the agricultural holding presented on the WSE website, the investments attracted by it can roughly range from PLN 3.21 million ($ 834,000 at the current exchange rate) to PLN 4.49 million ($ 1.17 million).
The share of land plots cultivated by the 25 largest agricultural holdings is 9% (3.88 million hectares) of the total area of agricultural land in Ukraine, the investment company Concorde Capital (Kyiv) said during the presentation of the agricultural online platform KupiPai.
According to it, the land bank of Kernel agricultural holding (the main beneficiary is Andriy Verevsky) is 510,000 hectares, Ukrlandfarming (Oleh Bakhmatiuk) 475,000 hectares, MHP (Yuriy Kosiuk) 370,000 hectares, Agroprosperis (George Rohr and Maurice Tabasinik) 300,000 hectares, Astarta (Viktor Ivanchik) 243,000 hectares.
Continental Farmers cultivates 195,000 hectares, Epicentr Agro 160,000 hectares, Harveast 127,000 hectares, Ukrprominvest-Agro 120,000 hectares, Agroton and Agrain 110,000 hectares, Vitagro and Privat-agro 85,000 hectares.
Concorde Capital said the land bank TAS-Agro and Nibulon are 83,000 hectares each, Agrovisty, Svitanka and LNZ 80,000 hectares each, Agrotrade 71,000 hectares, Ristone Holdings 67,000 hectares, Grain Alliance 57,000 hectares, AgroGeneration 56,000 hectares.
The investment company said the total area of Ukraine is 60.3 million hectares, including 42,700 hectares are suitable for agriculture (of which 31.1 million hectares are privately owned, 10.4 million hectares are state-owned, 1.2 million hectares of another form of ownership). At the same time, 89% of the 31.1 million hectares of land plots in private ownership are private shares of citizens.
Concorde Capital said that according to data for 2019, 56% of land plots were cultivated by individual tenants, 29% were individual owners, 8% of the land was leased from the state, and 7% were not cultivated at all.
