SFGCU sustained UAH 87 mln loss in H1 2021

The State Food and Grain Corporation of Ukraine (SFGCU) reports a net loss of UAH 87 mln in the first half of 2021. In the corresponding period of 2020, the corporation's loss reached UAH 3.47 bln.

The net loss of the company for the first quarter of 2021 totalled UAH 144 mln, and for the second quarter of 2021, the company generated a net profit of UAH 57 mln.

"Since 2013, the activity of the SFGCU has been unprofitable. A significant impact on the company's financial results was caused by the financial burden—the Chinese loan. In addition to the loan servicing costs, the financial result is influenced by currency exchange rate fluctuations," the statement reads.

Net sales income for the first half of 2021 came to UAH 5.7 bln. Net income for the comparative period in 2020 was UAH 4.17 bln.

In July, the SFGCU was refunded with UAH 87.54 mln of VAT, in June with UAH 68.46 mln, and UAH 174.18 mln in May.