KSG Agro posted lower gross profit, higher EBITDA for 2019

KSG Agro revenue for the year 2019 stood at USD 23.98 mln, 16% lower YoY (2018: USD 28.33 mln).

Pursuant to the company's annual report, gross profit dropped 10% YoY to USD 2.46 mln (2018: USD 2.72 mln). Operating profit reached USD 7.8 mln having increased 4x.

Profit for the year grew to USD 6.22 mln vs. USD 487 thou. in 2018. EBITDA improved 2.4x to USD 9.58 mln, USD 6.7 mln higher YoY.

The total area of agricultural land controlled by the group as at 31 December 2019 was 21 thou. ha, of which 8 thou. ha were under winter crops, the company informs.

In 2019, KSG Agro harvested 14.5 thou. t of wheat, 13.0 thou. t of sunflower, 5.4 thou. t of corn, 4.0 thou. t of barley and 1.1 thou. tonnes of rapeseed.