Business news from Ukraine

DANISH AGRO-COMPANY AGROMINO WITH ASSETS IN UKRAINE, RUSSIA AND ESTONIA POSTS EUR 6.6 MLN NET PROFIT

The Danish agro-company Agromino with assets in Ukraine, Russia and Estonia received EUR 6.6 million of net profit in January-June 2019 against EUR 2.8 million of net loss for the same period in 2018.
According to a company report on the website, total income, adjusted for the fair value of assets and reserves, for the first half of this year increased 10%, up to EUR 30.2 million.
Agromino’s EBITDA for the six months was positive and totaled EUR 10.2 million in comparison with negative indicator in p2018 – EUR 1.8 million.
Consolidated assets of the agricultural company at the end of June 2019 were estimated at EUR 92.9 million compared to EUR45.4 million by the end of 2018.
Agromino in the second quarter of 2019 saw 21% million rise in net profit against EUR 9.8 million of net profit for the same period last year. Total revenue for this period increased by 9.5%, to EUR 22.2 million.
Agromino (formerly Trigon Agri) was established in 2006. It specializes in grain and dairy production, agricultural trade.
In Ukraine, the company owns four silos with a capacity of 145,000 tonnes. Its land bank is about 45,000 hectares in Kharkiv, Mykolaiv, and Kirovohrad regions.

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AGROMINO BUYS KERNEL’S ELEVATOR

The Danish agricultural company Agromino with assets in Ukraine, the Russian Federation and Estonia is buying Hutiansky Elevator LLC, which belongs to Kernel, one of the largest Ukrainian agricultural groups.
According to the information on the website of the Antimonopoly Committee of Ukraine, the agency will consider this issue on June 6.
According to the AMC, Kovyahy Grain LLC (Kharkiv region) wants to acquire an integrated property complex (elevator), which is owned by Hutiansky Elevator LLC.
According to the state register of legal entities and individual entrepreneurs, Kovyahy Grain is owned by Danish-based Agromino, and the owner of Hutiansky Elevator is Kernel-Capital, Kernel-Trade and AMC Progressive Investment Strategies, the ultimate beneficiary is Andriy Verevsky.
As reported, in May 2019 the AMC allowed Verevsky to buy an elevator of Mriya in Ternopil region.
Agromino (formerly Trigon Agri) was created in 2006. It specializes in grain and dairy production, trade in crops.

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DANISH AGRO-COMPANY AGROMINO SEES EUR 2.8 MLN OF NET LOSS

The Danish agro-company Agromino (formerly Trigon Agri) with assets in Ukraine, Russia and Estonia in January-June 2018 saw EUR 2.82 million of net loss compared with EUR 9.46 million of net profit a year ago. According to a report of the company on its website, total revenue, taking into account the adjustment of the fair asset value and stocks, fell by 8.5% in H1 2018, to EUR 27.24 million.
Earnings before interest, taxes, depreciation and amortization (EBITDA) were negative, being EUR 1.8 compared with positive EUR 9.4 million a year ago.
Consolidated assets as of June 2018 were estimated at EUR 58.32 million compared with EUR 46.77 million as of late 2017. In Q2 2018, Agromino cut net profit by 20.7% year-over-year, to EUR 8.14 million and revenue – by 9.5%, to EUR 20.25 million. As reported, Agromino in 2017 posted EUR 3.48 million net profit against EUR 25.08 million net loss in 2016. Revenues decreased by 17.6%, to EUR32.83 million.
Agromino (formerly Trigon Agri) was established in 2006. It specializes in grain and dairy production, agricultural trade.

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