IMC

WSE-listed Ukrainian agricultural producer IMC reported 2024 sales of $211m (+52% y-o-y), a gain from change in fair value of biological assets (IAS 41) of $76m (+5.0x), EBITDA of $86m (+26.8x; incl. IFRS 16), and net income of $55m (vs. net loss of $21m in 2023). Based on these figures, IMC booked 4Q24 sales of $71m (+73% y-o-y), an IAS 41 gain of $14m (vs. -$8m in 4Q23), EBITDA of $15m (vs. -$11m in 4Q23), and net income of $7m (vs. $19m net loss in 4Q23), for EBITDA and net margins of 17.8% (+50.6pp y-o-y) and 8.7% (+66.7pp).

WSE-listed Ukrainian agricultural producer IMC reported 9M24 sales of $141m (+43% y-o-y), a gain from change in fair value of biological assets (IAS 41) of $62m (+2.6x), EBITDA of $71m (+5.1x; incl. IFRS 16), and net income of $47m (vs. net loss of $2.3m in 9M23). Based on these figures, IMC booked 3Q24 sales of $32m (+21% y-o-y), an IAS 41 gain of $35m (+88x), EBITDA of $33m (vs. -$3.2m in 3Q23), and net income of $26m (vs. $8.5m net loss in 3Q23), for EBITDA and net margins of 49.9% (+61.7pp y-o-y) and 38.3% (+69.7pp).