Сельское хозяйство

Khlibprom [HLPR UZ, N/R], a holding company for 14 bread plants and three bakeries, has posted a net revenue of USD 22.02 mln (+54.5% YoY) and a net income of USD 0.25 mln (+ 9.1% YoY) for 1Q08.

Astarta [AST PW, U/R], Ukrainian sugar refinery, gets a 3 month bridge loan from ABN AMRO. The agreement was signed on May 29, 2008. According to the Warsaw Burse officials, “Tsukrovyk Poltavshyny” ltd and “Astarta – Kyiv” ltd are stated as collaterals for the loan. The company is planning to invest the money into buying new agriculture equipment and improving of working capital.

Milk Group, part of the group Western Milk, launched a new line for cottage cheese production with a daily capacity of 5 mt of cottage cheese.

Baltic Beverage Holding Ukraine’s 1Q08 sales increased 48% YoY to USD 64 mln and +42% in terms of volume, the company announced Wednesday, May 27 at a press conference. Its net loss expanded two-fold to USD 8 mln and EBITDA was slashed 12% to USD 2 mln.

Myronivskiy Khliboproduct [MHPC LI, N/R], a leading poultry producer in Ukraine, is planning to increase its share capital 5% to USD 170.5 mln through an additional share issue of 160 mln ordinary shares with a par value of USD 0.05. The ex-rights date is set for Aug. 19, 2008. The final decision is slated to be made at MHP’s AGM in July.

Kernel Group [KER PW, N/R], one of the top Ukrainian sunflower oil producers, has signed a preliminary agreement with a Ukrainian company in order to acquire a 2.5 thsd ha agriculture farm under lease in central Ukraine.

Shareholders of Shostka Milk [SHMK UZ, U/R], one of the top Ukrainian dairy producers approved annual financial results for 2007 at their AGM May 21.

Veres Group, one of the top Ukrainian producers of preserved food, is considering an IPO.

Astarta Holding NV [AST PW], one of the top Ukrainian sugar mills, released its 1Q 2008 financial results, revealing net revenues increased 57% YoY to USD 29.8 mln, EBITDA surged 109% YoY to USD 12.8 mln, net income totaled USD 8.4 mln (up 80% YoY) and a 43% YoY increase in sugar sales.

Kovelmoloko [KMOL UZ, U/R] has attracted a one-year, USD 5.5 mln loan with an interest rate of 20% from UkrExim Bank, according to a contract signed May 7. KMOL is one of the top dairy producers in Ukraine and is a main production asset of the Western Milk group. The loan will be used to fulfill working capital.