Agroholding KSG Agro improved outlook for net profit in 2011. Thus, the company expects net profit of $ 24.25 million, up 22% compared to the previous forecast, released during the IPO of the company in April this year.
The company also raised its forecast for revenue, which is expected to grow by 36%, to $ 36.17 million

Under the new assessment, the gross profit in the current year is measured at $31.07 million (22% to the previous forecast), EBITDA - $ 29,79 million (23%) and EBIT - $ 27,42 million. The company also reported that on 7^th of September division of the insurance group Generali group - Polish fund Generali OFE has focused more than 5% of Ukrainian agricultural holding KSG Agro.

For the 1st half 2011 net income increased by 13.9 times, to $ 18.75 million, revenues - by 57.2% to $ 2.59 million. In the 1st half of 2011 the company increased its land bank from 26.5 K ha to 52.9 K ha, acquired 10 new companies.

KSG Agro S.A. April 15, 2011 carried out an initial public offering (IPO) on the Warsaw Stock Exchange. 33% of the shares were sold for more than $ 40 million. 89% were distributed amongst Polish investment funds. Attracted by the IPO funds were used for the increase of land bank, renewal of agricultural machinery, working capital, the development direction for the production of vegetables.

In June 2011 KSG Agro Ltd has acquired AF Spring, LLC, LLC Dneproagroprogres and LLC Dneproagrostandart. After these transactions, the amount of cultivated land increased to 43 thousands of hectares. By 2016, the company plans to increase its land bank of 200 K hectares. Until the end of 2011 the company plans to acquire 20 K hectares. In 2012, the holding company intends to increase the production and sale of vegetables by 50%, processing and marketing of grocery products by 60%. On June 30, 2011 total assets of the holding amounted $ 97,482 thousand and net assets - $ 64 578 thousand. The main shareholder and chairman of the board of directors of agricultural holding is Sergey Kasyanov.

UAIndex