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Major Ukrainian dairy producer has become unprofitable

Крупный украинский молочный производитель стал убыточнымThe Russian market has generated largest part of the revenues of the company.

Milk group with assets in Ukraine, Russia and Poland Milkiland in January-September of 2018 received €13.4 million against a net loss of €4.6 million net profit in the same period last year.

This is evidenced by the unaudited report on the website of the Warsaw stock exchange.

The company’s revenue for the period decreased by 6.6% to €98.8 million, gross profit was 24.4%, to €15.9 million, EBITDA of 1.8 times, up to €4.4 million

Note that the Russian market has generated largest part of the revenues of the company is €59.5 million and Ukraine at €28.9 million, Poland, €10.5 million

The company received €37.3 million from sales of butter and cheese, which is 38% of the company’s total revenue, €47,3 million from dairy products and €14.3 million from the ingredients.

Milkiland in January-September of 2018, received a €3.4 million operating loss versus a €3 million operating profit for the first nine months of last year.

The debt portfolio of the group amounted to €86.2 per million as at 30 September 2018, compared with €86.6 million at the end of 2017, mainly due to the restructuring of agreements with the Ukrainian and Polish banks.

The group’s net debt decreased by 1% to €85,7 million as of 30 September 2018.

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