By KYIV. Nov 15 (Interfax-Ukraine) – KSG Agro agricultural holding in January-September 2022 received $450,000 of normalized profit (calculating which excludes the impact of one-time transactions such as the sale of subsidiaries), which is 12.6 times less compared to the figures for the nine months of 2021.
According to the holding’s report on the Warsaw Stock Exchange website, its net profit for this period decreased to $96,000 from $17.28 million in January-September 2021. This change is due to the fact that in the three quarters of last year, the agricultural group received $11.58 million in profit from the sale of subsidiaries, while in the same period in 2022 it spent $350,000 on the purchase of assets.
In addition, KSG Agro’s EBITDA in January-September 2022 decreased by 63% compared to the same period last year, to $2.72 million, while its revenue decreased by 51%, to $10.27 million.
The agricultural holding also reduced gross profit by 57%, to $3.14 million, operating profit by 73%, to $1.65 million.
