By KYIV. May 16 (Interfax-Ukraine) – Agroliga (Kharkiv region) received EUR 770,000 in net profit in January-March 2023, which is 70.5% more compared to January-March 2022.
According to the company’s report on the Warsaw Stock Exchange, its first-quarter revenue rose 32.4% to EUR12.91 million.
However, due to the increase in the cost of sales, gross profit increased not so significantly – by 11.3%, to EUR2.33 million, and distribution costs increased by 4.2 times, to EUR1.01 million, which led to a decrease in operating profit by 36.1% – up to EUR1.11 million.
The agricultural holding notes that its free cash at the end of the first quarter was EUR1.67 million compared to EUR1.74 million at the end of 2022.
The main shareholders of the group are Oleksandr Berdnyk and Iryna Poplavska with shares of 41.66% each, another 16.68% of the shares are in free circulation.
In the annual report, the agricultural holding indicated that it operates approximately 8,000 hectares of land, oil plants operating on the pressing technology with a capacity of 42,000 tonnes per year, as well as an oil extraction plant with a processing capacity of 100,000 to 180,000 tonnes of sunflower seeds per year, which also can produce soybean and rapeseed oil.
In addition, the group has completed the construction of power facilities that operate on a feed-in tariff and ensure waste-free production.
