Ukrlandfarming almost halves net loss in 2016

18:56, 16.05.2017 1 min read

Ukrlandfarming, the largest agricultural holding in terms of land bank, halved net loss in 2016, to $175.25 million.

According to a company report, revenue grew by 2.3%, to $958.94 million, operating profit soared by 3.2 times, to $100 million, while gross profit decreased by 33%, to $191.59 million. Earnings before interest, taxes, depreciation and amortization (EBITDA) fell by 33%, to $162.3 million.

Total assets last year narrowed to $2.07 billion from $2.22 billion in 2015.

Net debt totaled $1.59 billion late 2016 compared to $1.54 billion in 2015.

Net debt/EBITDA ratio grew from 6.34 in 2015 to 9.79 in 2016.

In 2016, the holding revised conditions for 15 credit agreements with five banks.

The company's board does not recommend paying dividends for 2016.