IMC revenue rises 2% in 9M 2017
IMC revenue for the 9 months of 2017 increased by 2% compared to the same period in 2016 to USD 81.5 million.
Export revenues of the IMC accounted for 82% of the company's total revenue for the 9 months of 2017.
EBITDA for the period amounted to USD 42.8 million (-24% y-o-y), and net profit totaled USD 27.6 million (-8% y-o-y). The decrease in profits is due to increased costs and the strengthening of the Ukrainian currency (hryvnia) in 2017.
Net cash flow from operating activities for the 9 months of 2017 increased by 27% to USD 25.1 million compared to the same period in 2016, mainly due to increased sales.
During the reporting period, IMC invested USD 3.9 million in renewal of the fleet of agricultural machinery, modernization of the company's grain silos and dairy farm.
"The financial expenses of IMC for 9 months of 2017 decreased by 49% compared to the same period in 2016, due to a significant decrease in the company's total debt to USD 70.7 million as of 30 September 2017. In the future, IMC plans to continue its strategy on reduction of the company's debt and expects the total debt to fall to USD 65 million by the end of 2017," the message says.
On 27 September 2017, IMC paid the first dividends in the company's history to its shareholders at a rate of EUR 0.05 per share. The total amount of dividends paid is about EUR 1.66 million.