Companies

Agroton

Agroton is one of the largest agricultural companies in Ukraine, specializing in sunflower growing (30% of total acreage). The company also cultivates wheat, corn and other crops in line with crop rotation best practice. Agroton currently plants 100,000 ha of land out of the 160,000 ha it controls, all located in the Luhansk region.

Shareholders Structure

SUMMARY

Market Price ($)	0.932
Market Cap ($m)	20
Enterprise Value ($m)	3
Shares Outstanding	21,670,000
Code	AGT PW

Recommendations

FV ($)	****
Upside (%)	****
Recommendation	****

Indicator	2016	2017	2018	2019E	2020E
Sales ($m)	44	52	***	***	***
EBITDA ($m)	26	11	***	***	***
Net Income ($m)	22	8	***	***	***
Net Debt ($m)	(2)	(8)	***	***	***

Indicator	2016	2017	2018	2019E	2020E
P/E	0.93	2.42	***	***	***
P/Sales	0.46	0.39	***	***	***
EV/EBITDA	0.7	1.2	***	***	***
P/Book	0.28	0.25	***	***	***

Parliament passes IMF-required land bill, gives early approval to bank resolution law

In a post-midnight vote that capped over four months of debate, the Verkhovna Rada passed a bill on the farmland market at second (final) reading. A total of 259 lawmakers, or 33 above the minimum majority of 226, supported the bill, including 206 from President Volodymyr Zelensky’s Servant of the People party. Despite staunch opposition to land reform from populist opposition parties, which submitted over 4,000 amendments to the bill to extend its debate for months, the legislation finally passed, making Ukraine’s 19-year ban on farmland sales history.

Sep 04, 2019

| Food & Agriculture

Agroton [Not Rated] — Reports 1H19 financial results

WSE-listed Ukrainian farming company Agroton reported 1H19 net sales of $17.8m (+7% y-o-y), EBITDA of $2.6m (-63%), and net income of $3.3m (-72%), for EBITDA and net margins of 11.2% (-17.8pp y-o-y) and 13.9% (-33.5pp y-o-y), respectively.