IMC reported financial results for 9M 2020

The agricultural holding IMC reported USD 113.84 mln of revenue for the period January-September 2020, 4% lower YoY.

According to the company's report, revenues from corn sales decreased by 17% to USD 77.13 mln, soybeans by 80% to USD 0.44 mln, milk by 9% to USD 1.03 mln. Wheat sales grew 35% to USD 17.19 mln, sunflower sales 121% to USD 16.62 mln and cattle sales 181% to USD 0.3 mln.

The IMC's gross profit surged 47% to USD 71.42 mln vs. USD 48.54 mln in 9M 2019. Operating profit reached USD 49.12 mln, 2x higher YoY.

In the reporting period, the company's EBITDA increased 1.6x to USD 64.71 mln. Net profit amounted to USD 33.17 mln, which is 1.8x more YoY.

Total non-current liabilities of IMC as of September 30, totalled USD 100.06 mln (September 30, 2019: USD 108.95 mln). Total current liabilities make up USD 68.85 mln (September 30, 2019: USD 83.03 mln).

Previously reported that IMC market cap for the period October 29-November 4, 2020, increased by 3% to USD 103 mln.