According to the company's report on the Warsaw Stock Exchange, its EBITDA decreased by 27% to $ 1.61 million.
KSG Agro's revenue in January-June this year increased by 23% compared to January-June last year to $ 7.41 million, gross profit decreased by 13% to $ 1.79 million, and operating profit decreased by 37% to $ 0.94 million.
«The group continues to implement its simple strategy, focusing on three winter crops, two spring crops and one breed of pigs,» the document says.
In the first half of 2023, KSG Agro exported 4.2 thousand tons of grain crops (wheat, corn, barley) mainly to Asia and Africa as part of the grain corridor through the ports of Odesa and Odesa region.
KSG Agro sowed sunflower on an area of 7.3 thou hectares in late May and early June and has been engaged in chemical and mechanical tillage with mechanical cultivators and rotary harrows during the growing season.
The harvest is in good condition. The sowing campaign went ahead as planned, without major interruptions due to the hostilities. According to the report, winter crops have been harvested: barley yields amounted to 3 tons per hectare, rapeseed — 2.5 tons per hectare, and wheat — 5 tons per hectare.
In June, the Kakhovka Dam on the Dnipro River was destroyed, which led to flooding in a number of downstream regions and the drying up of several upstream irrigation canals. While the group was partially dependent on water supplies from the canals, these supplies were not essential to the group's operations. KSG Agro has switched to alternative sources of water and does not anticipate any shortages in the near future. None of the agricultural holding's enterprises is located downstream of the dam and was not affected by the flood.
PigUA.info by bizagro.com.ua