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KSG AGRO S.A.: Information about the credit rating update (2022-05-26 15:50)
fot. freepik.com
KOMISJA NADZORU FINANSOWEGO

Raport bieżący nr11/2022
Data sporządzenia: 2022-05-26
Skrócona nazwa emitenta
KSG AGRO S.A.
Temat
Information about the credit rating update
Podstawa prawna
Treść raportu:
Update a long-term credit rating of KSG Agro S.A. at the level uaА+

MESSAGE (ENGLISH VERSION)

The Board of KSG Agro S.A. headquartered in Luxembourg (“the Company”) hereby informs that on May 23, 2022 the rating committee of RA “Expert-Rating” made a decision to update a long-term credit rating of KSG Agro S.A. at the level uaА+ according to the national scale (the rating according to the Agency’s international scale is at the level ВВВ). The borrower or the particular debt instrument with such rating is characterized by a high creditworthiness compared to other Ukrainian borrowers or debt instruments. The Agency updated the credit rating after the analysis of data of the consolidated statements of KSG Agro S.A for the 2021 year.
According to the results of the analysis, the following main conclusions have been drawn:

1. Throughout the 2021 year the shareholders’ equity of KSG Agro S.A. grew in 4,34 times and as at the beginning of the 2022 year amounted to USD 23,33 mln. The key factor of the increase of this indicator was the Company’s profitable activity and the reduction of retained loss in the structure of its shareholders’ equity. The liabilities of KSG Agro S.A. for the 2021 year decreased by 16,44% down to USD 48,11 mln. The decrease in liabilities of KSG Agro S.A. was mainly due to selling three subsidiary companies in May, 2021 and two subsidiary companies in September, 2021. The corresponding movement of indicators resulted in an increase in the ratio between shareholders’ equity and liabilities of KSG Agro S.A. by 39,15 p.p. up to 48,50% in the analyzed period.

2. In the structure of long-term liabilities of KSG Agro S.A. as of 31.12.2021, the predominant share was occupied by long-term loans. Short-term loans, obtained by KSG Agro S.A., decreased by 8,03% and amounted to USD 2,65 mln.
3. Sales of the Company's products in the analyzed period continued to increase. Thus, sales revenue for the 2021 year amounted to USD 30,75 mln, which by 44,09% exceeded the indicator for the 2020 year. In its turn, net profit of KSG Agro S.A. according to the results of the 2021 year compared to the 2020 year grew by USD 19 mln (almost 16 times) up to USD 20,27 mln. A considerable increase in the financial results of KSG Agro S.A. positively affected the Company’s profitability indicators, which reached very high values according to the results of 2021 year.
4. Analysis of the consolidated financial statements of KSG Agro S.A. showed that EBITDA according to the results of the 2021 year compared to the 2020 year grew more than in twice up to USD 12,28 mln., and the ratio between EBITDA for the 2021 year and the volume of loans as of 31.12.2021 grew up to 45,55%. The respective level of this indicator shows a high level of the Company’s solvency.
The agency notes that the financial statements of KSG Agro S.A. for the 2021 year was compiled using judgments and estimates at the time before the Russian invasion of Ukraine, and did not take into account subsequent military events. On the other hand, since the beginning of the Russian invasion no hostilities have taken place in the immediate vicinity of the assets of the Company, so on the date of preparation and signing of financial statements for the 2021 year, the management of KSG Agro S.A. did not expect a significant negative impact of the Russian invasion on the economic activities on the Company.

KSG AGRO S.A.
(pełna nazwa emitenta)
KSG AGRO S.A.Spożywczy (spo)
(skrócona nazwa emitenta)(sektor wg. klasyfikacji GPW w W-wie)
L-1143Luxembourg
(kod pocztowy)(miejscowość)
Rue Astrid24
(ulica)(numer)
+352 42 71 71 1+38 0562 31 12 26
(telefon)(fax)
info@ksgagro.comhttp://www.ksgagro.com
(e-mail)(www)
LU0611262873LU0611262873
(NIP)(REGON)
PODPISY OSÓB REPREZENTUJĄCYCH SPÓŁKĘ
DataImię i NazwiskoStanowisko/FunkcjaPodpis
2022-05-26Andriy SkorokhodCEO KSG Agro S.A.

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