REKLAMA

KSG AGRO S.A.: Information about the credit rating update

2021-09-15 16:26
publikacja
2021-09-15 16:26
Spis treści:

1. RAPORT BIEŻĄCY

2. MESSAGE (ENGLISH VERSION)

3. INFORMACJE O PODMIOCIE

4. PODPISY OSÓB REPREZENTUJĄCYCH SPÓŁKĘ

KOMISJA NADZORU FINANSOWEGO
Raport bieżący nr 11 / 2021
Data sporządzenia: 2021-09-15
Skrócona nazwa emitenta
KSG AGRO S.A.
Temat
Information about the credit rating update
Podstawa prawna
Treść raportu:
Information about the credit rating update

MESSAGE (ENGLISH VERSION)






The Board of KSG Agro S.A. headquartered in Luxembourg
(“the Issuer”) hereby informs that on September 15, 2021, the rating
committee of RA “Expert-Rating” decided to update a long-term credit
rating of KSG Agro S.A. at the level BBB according to the agency’s
international scale. The borrower or the particular debt instrument with
rating BBB is characterized by high creditworthiness compared to other
Ukrainian borrowers or debt instruments. The level of creditworthiness
is susceptible to the impact of adverse commercial, financial and
economic conditions. The Agency updated the credit rating after the
analysis of data of the consolidated statements of KSG Agro S.A for the
first half of 2021. According to the results of the analysis, the
following main conclusions have been drawn:1.
Throughout the period from 30.06.2020 to 30.06.2021 the key balance
sheet indicators of KSG Agro S.A. demonstrated multidirectional
dynamics. In particular, the shareholders’ equity of the Company grew by
52,46% up to USD 14,47 mln, including due to its profitable activity and
the reduction of retained loss. For the same period, the liabilities of
KSG Agro S.A. decreased by 12,52% down to USD 55,7 mln. The decrease in
liabilities of KSG Agro S.A. was mainly due to selling three subsidiary
companies in May 2021. The corresponding movement of indicators resulted
in an increase in the ratio between shareholders’ equity and liabilities
of KSG Agro S.A. by 11,07 p.p. up to 25,98%. 2.
Accounts receivable and payable of KSG Agro S.A. for the period from
30.06.2020 to 30.06.2021 decreased significantly: by 75,15% and 62,89%,
respectively, which indicates an improvement in settlement and payment
discipline in the Company. In the structure of long-term liabilities of
KSG Agro S.A. as of 30.06.2021, the predominant share was occupied by
long-term loans: their volume in the analyzed period grew by 7,52% up to
USD 27,25 mln. At the same time, short-term bank and other loans,
obtained by KSG Agro S.A., for the period from 30.06.2020 to 30.06.2021
decreased by 54,19% down to USD 2,91 mln.3.
The current macroeconomic situation did not significantly affect the
sales volumes of the Company's products. In particular, net sales
revenue for the first half of 2021 compared to the same period of 2020
decreased by 12,08% to USD 6,81 mln. The amount of net profit, received
by KSG Agro S.A. according to the results of the first half of 2021,
grew by USD 13,42 mln up to USD 13,7 mln compared to the first half of
2020. The main factor in the growth of the Company's profit in the
analyzed period was the sale of its three subsidiaries. Therefore,
according to the results of the first half of 2021, KSG Agro S.A.
demonstrated high profitability indicators. 4.
Analysis of the consolidated financial statements of KSG Agro S.A.
showed that EBITDA in the first half of 2021 compared to the first half
of 2020 decreased by 22,49% and amounted to USD 2,69 mln. At the same
time, the ratio between EBITDA for the two quarters of 2021 and the
volume of loans as of 30.06.2021 amounted to 8,95%, which, although was
by 2,03 p.p. less than for the same period of 2020, but testified to the
Company’s ability to service its debt liabilities. Therefore,
having analyzed the financial statements of KSG Agro S.A. for the first
half of 2021, the Agency notes an increase in the level of shareholders’
equity coverage with liabilities, a profitable activity of the Company,
and a good level of the ratio between EBITDA and loans.


INFORMACJE O PODMIOCIE    >>>

PODPISY OSÓB REPREZENTUJĄCYCH SPÓŁKĘ
Data Imię i Nazwisko Stanowisko/Funkcja Podpis
2021-09-15 Andriy Skorokhod CEO KSG AGRO S.A.
Źródło:Komunikaty spółek (ESPI)
Tematy
Otwórz PKO Konto za Zero na selfie albo zamów kuriera!

Otwórz PKO Konto za Zero na selfie albo zamów kuriera!

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