IMC

IMC is an integrated agribusiness operating 136,600 ha of farmland and 554 kt of storage capacity in northern and central Ukraine. The company focuses on growing, storing and processing crops such as corn, wheat, sunflower, soybeans and potatoes (99% of 2016 revenue). IMC is also involved in cattle breeding and milk production, remaining one of Ukraine’s top-10 industrial milk producers.

Shareholders Structure

SUMMARY

Market Price ($) 2.522
Market Cap ($m) 90
Enterprise Value ($m) 228
Shares Outstanding 35,500,464
Code IMC PW

Recommendations

FV ($) ****
Upside (%) ****
Recommendation ****
Indicator 2018 2019 2020 2021 2022
Sales ($m) 132 170 *** *** ***
EBITDA ($m) 51 39 *** *** ***
Net Income ($m) 28 7 *** *** ***
Net Debt ($m) 55 145 *** *** ***
Indicator 2018 2019 2020 2021 2022
P/E 3.24 12.23 *** *** ***
P/Sales 0.68 0.53 *** *** ***
EV/EBITDA 2.8 6.0 *** *** ***
P/Book 0.74 0.67 *** *** ***

Company Peers

Latest news about IMC

Nov 13, 2023
| Food & Agriculture

IMC — Reports weak 3Q/9M23 financials

WSE-listed Ukrainian agricultural producer IMC reported 9M23 net sales of $99m (+60% y-o-y), a gain from change in fair value of biological assets (IAS 41) of $24m (-44%), and EBITDA of $14m (-62%; incl. IFRS 16), with a net loss of $2m (vs. net income of $5m in 9M22). These figures imply 3Q23 sales of $27m, down 11% q-o-q but up 55% y-o-y, zero IAS 41 gain (vs. +$12m in 3Q22), an EBITDA loss of $3m (vs. +$16m in 2Q23 and +$8m in 3Q22), and a net loss of $9m (vs. $10m net income in 2Q23 and a $7m loss in 3Q22).
Sep 01, 2023
| Food & Agriculture

IMC — Reports 2Q/1H23 financial results

WSE-listed Ukrainian agricultural producer IMC reported 1H23 sales of $72m (+62% y-o-y), a gain from change in fair value of biological assets (IAS 41) of $23m (-24%), EBITDA of $17m (-41%; incl. IFRS 16), and net income of $6m (-45%). Based on these figures, IMC booked 2Q23 sales of $30m (+4.6x y-o-y), an IAS 41 gain of $21m (-25%), EBITDA of $16m (-46%), and net income of $10m (-53%), for EBITDA and net margins of 30.6% (-52.3pp y-o-y) and 20.2% (-42.4pp).
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