Business news from Ukraine

AGROHOLDING MRIYA PLANS TO INCREASE EBIDTA BY 33.3%

Mriya agroholding plans to boost its earnings before interest, taxes, depreciation and amortization (EBITDA) by 33.3%in 2018, to $32 million, Mriya Chief Operating Officer (COO) Andriy Hryhorov has said. “We plan to reach $32 million for EBITDA this year,” he told reporters at a press conference.
Hryhorov said that in the past three years Mriya has invested over $25 million in agricultural machinery fleet.
“This spring we purchased 22 units of agricultural machinery. We continue to expand the machinery fleet after our default. We are also writing off the old equipment and replacing it with new equipment. In the next three or five years we plan to invest over $30 million in the machinery fleet. The new equipment is bought, taking into account the requirements of precision agriculture. Some 50% of our fleet is ready to work with this technology,” Hryhorov said.
According to him, now the Ukrainian market of agricultural machinery has enough harvesters for leasing, so the agroholding decided to consistently reduce the number of its own combines in operation.
“It is economically unprofitable to invest $15,000-20,000 per combine every year. We plan to reduce their number in our machinery fleet to 50 units and lease the rest,” the COO said.
Mriya is a vertically integrated agro-industrial holding founded by Ivan Huta in 1992. Today, its land bank is 165,000 ha in Ternopil, Khmelnytsky, Ivano-Frankivsk, Chernivtsi, Lviv and Rivne regions. The capacity of its grain storage facilities is estimated at 380,000 tonnes.

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