IMC's EBITDA decreased 34% in 2017

IMC's EBITDA in 2017 amounted to USD 39.1 million (-34% y-o-y), and net profit amounted to USD 17.8 million (-19% y-o-y), the report states. The decrease in profit is due to the growth of production costs and the strengthening of the Ukrainian national currency (hryvnia).

The company's revenue in 2017 amounted to USD 126.8 million (+2% y-o-y), including crop farming revenue increased by 4% to USD 124.1 million, mainly due to growth of prices for grain and oilseeds by 2-4%, and revenues from dairy farming decreased by 61% to USD 1.9 million due to the completion of the project on optimization of dairy farming in the company. The share of export revenue in 2017 was 73%.

Net cash flow from operating activities of IMC in 2017 increased by 11% to USD 32.4 million. In 2017, the company invested USD 4.9 million in the purchase of agricultural machinery, modernization of grain elevators and dairy farm in the Chernihiv region.

In 2017, IMC continued to implement its strategy on reduction of the company's debt. The total debt of IMC decreased by USD 19.1 million to USD 64.5 million as of 31 December 2017. The reduction of the company's debt, along with successful refinancing of the part of the debt, led to a decrease in financial costs of IMC in 2017 by 51% to USD 6 million per year.

In 2017, for the first time in its history, IMC paid dividends to its shareholders to the amount of USD 1.985 million.