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Agroton cuts net loss by 17.1% in H1 2021
KYIV. Sept 1 (Interfax-Ukraine) – Agroton agricultural holding (Luhansk region) in January-June 2021 reduced its net loss by 17.1% compared to the same period in 2020, to $2.98 million, while increasing its revenue by a quarter, to $17.14 million.
According to a report of the group of companies for the first half of 2021, published on the Warsaw Stock Exchange on Tuesday evening, its gross profit for the specified period decreased by 83.9%, to $1.34 million. In addition, Agroton in the first half of 2021 received $2.92 million in operating losses, while in January-June 2020 – $5.86 million in operating profit.
According to the report, in the first half of 2021, the assets of the agricultural holding did not change compared to the same period last year, while its long-term debt liabilities decreased by 16.3%, to $7.55 million, and current ones – by 4.3%, to $9.33 million.
During the reporting period, Agroton doubled its sales of sunflower to 18,260 tonnes, and the rise in prices for this crop allowed the agricultural holding to receive 28.7% more revenue – $15.63 million. Sales of winter wheat for the reporting period decreased by a quarter, to 171 tonnes, while the proceeds from its sales did not change, remaining at the level of $33,000.
According to the group, sales of milk in the first half of 2021 decreased by 10.8% compared to the first half of 2020, to 2,760 tonnes, while revenue from its sales increased by 15%, to $1.39 million.
According to the report, as of June 30, 2021, the majority shareholder of the company, Yuriy Zhuravlev, increased his share in the charter capital of the company by 6.78%, to 84.48% (as of December 31, 2020, he owned 77.7%), and the remaining 15.52% are in free circulation.
Agroton has been operating in the Ukrainian market since 1992. It specializes in the cultivation of grain and oilseeds, production and sale of livestock products. The land bank Agroton is about 110,000 hectares, it is located in Luhansk and Kharkiv regions. The group owns two poultry farms in Luhansk region.
