In the first quarter of 2021, KSG Agro increased its sales revenue by almost 9%. This was reported by the press service of the agricultural holding with reference to the company’s quarterly report published on the Warsaw Stock Exchange.
According to the results of the first quarter of 2021, KSG Agro agricultural holding increased its income from product sales by 9% compared to the same period last year – from 3.24 to 3.53 million dollars.
In the first quarter of 2021, the main financial indicators of the agricultural holding grew dynamically. In particular, operating profit increased by 39% – from $ 0.73 million to $ 1.01 million.
Net income was $ 0.75 million versus $ 3 million of losses in the first quarter of 2020.
A positive signal for investors was the growth of EBITDA (profit before taxes and depreciation), which in the 1st quarter of 2021 increased by 21% – to $ 1.39 million compared to $ 1.15 million in the first quarter of 2020.
According to Sergiy Kasianov, Chairman of the Board of Directors at KSG Agro agricultural holding, the main factors behind the growth of financial indicators were the decrease in unproductive costs, as well as the increased effective demand for high-quality pork in the first quarter of this year after the price slump in late 2020 early 2021.