Key Highlights
Consolidated revenues stood at EUR 175 million (-30% y-o-y) on the correction of sugar price, decreased sales volumes and a volatile performance of the EUR to USD exchange rate. EBITDA corrected 37% to EUR 60 million and net income 49% EUR 37 million.
By the beginning of the next marketing year, NIBULON plans to increase storage capacity of five transshipment terminals in Mykolaiv, Kherson, and Zaporizhzhia regions.
According to the State Statistics Service of Ukraine, the country’s planted areas of cereals and pulses for the 2018 harvest totaled 14.85 Ml ha, or 1.5% more than in 2017.
NIBULON has been cooperating with ING Bank for a very long time. The company has been working with its Swiss, Dutch and Kyiv offices in various areas of activity.
Mass harvesting of early cereals and pulses is under way all over the country. The harvest of wheat and barley is already more than half-complete. As of July 19, winter wheat had been harvested from 62% of its area in the country. Yields are lower than last year in most regions of Ukraine, but they show gains in some of its central and western parts.
The U.S. Department of Agriculture (USDA) in July lowered the forecast for wheat, maize and rye production in Ukraine in the 2018/2019 marketing year.
The facility will be used to finance the Company’s working capital needs associated with purchase of commodities in Ukraine and exports to the global market.