Economy 2024-07-15T04:51:46+03:00
Ukrainian news
IMC cuts profit by 45% to USD 6.3 million, ups revenues by 62% to USD 72 million in H1, 2023

IMC cuts profit by 45% to USD 6.3 million, ups revenues by 62% to USD 72 million in H1, 2023

profit, Revenues, EBITDA, agricultural holding, Industrial Milk Company, IMC

In January-September 2023, Kyiv-based Industrial Milk Company agricultural holding (IMC) decreased its profit by 45% or by USD 5.056 million to USD 6.28 million year over year.

The company has said this in a statement, Ukrainian News Agency reports.

IMC's net revenues in January-September 2023, compared to the same period in 2022 increased by 62%, or USD 27.426 million, to USD 71.952 million.

Also, in January-September 2023, IMC decreased its EBITDA (Earnings before Interest, Taxes, Depreciation, and Amortization) by 41% or by USD 11.917 million to USD 17.06 million year over year.

As Ukrainian News Agency earlier reported, the agricultural holding ended 2022 with a loss of USD 1.121 million against a profit of USD 78.71 million for 2021.

At the same time, the revenues for 2022 decreased by 37.2% or USD 67.7 million to USD 114 million, and the EBITDA indicator - 3 times to USD 36.2 million.

The company was founded in 2007 by Oleksandr Petrov, the former owner of the Cheese Club corporation.

IMC cultivates 120,000 hectares of land in the Poltava, Chernihiv, and Sumy Regions, growing corn, wheat, sunflower, soybeans, and also produces milk.

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