KSG Agro increased its EBITDA by 3.8 times for 9 months of 2020

According to the results of the three quarters of 2020, KSG Agro increased its EBITDA by 3.8 times compared to the same period last year. This was announced in the company’s report published on the website of the Warsaw Stock Exchange.
According to the results of the three quarters of 2020, KSG Agro increased EBITDA by 3.8 times compared to the same period last year – from $3.9 million to $14.7 million. And the growth of operating profit for the same period amounted to 436 % – from $2.5 million to $13.6 million.

“The increase in EBITDA and the growth in operating profit testifies to the efficiency of operating activities,” comments Sergiy Kasianov, Chairman of the Board of Directors at KSG Agro. According to him, the growth of these indicators is a natural result of the restructuring of credit debt and its significant reduction with foreign lenders.”

It should also be noted that the net profit indicator decreased by 52% – from $10 million to $4.8 million. The decrease in this indicator is due to significant payments as part of the restructuring of loan obligations. So, “about 4 million euros this year was paid to foreign creditors under the signed agreements on debt restructuring,” explains the head of the Board of Directors at KSG Agro, “As a result, today the ratio of net debt (Net Debt) to EBITDA is 2.1, which is significantly lower than this indicator for the first half of 2020, which was 3”.
Another factor that influenced the decline in profits was exchange rate differences affecting financial indicators.