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IMC net profit down 4x in 2019
4 May 2020, 09:44
IMC posted a net profit of USD 7.32 mln for 2019, 74% lower from the 2018 indicator (USD 27.63 mln).
The company's revenue improved by 30% to 169.6 mln (2018: USD 131.6 mln).
Pursuant to the company's report, revenues from corn sales increased by 46% to USD 118.81 mln, wheat by 27% (USD 13.48 mln), soybeans by 10% (USD 10.82 mln), milk by 15% (USD 1.55 mln). At the same time, sunflower sales decreased by 6% to USD 22.75 mln. Potatoes were not sold in 2019.
"The most significant portion of the Company’s revenue comes from selling corn, which represented 70,4% in Y2019 and 62,6% in Y2018 of total revenue," the report reads.
Gross profit of IMC in 2019 stood at USD 51.44 mln vs. USD 66.08 mln in 2018. The company halved its operating profit in the reporting period, to USD 15.22 mln vs. USD 66.08 mln in 2018.
The company's EBITDA reached USD 39.28 mln, 23% lower from 2018. (USD 50.85 mln).
Earnings per share in 2019 amounted to USD 0.22, 73% less from 2018 (USD 0.83).
As of April 30, the IMC capitalization came to USD 96 mln.
