March 14, 2024

After profitable activity in 2023, net loss of the Nibulon company in the first quarter of 2024 amounted to UAH 435 million.

According to the financial report of the Nibulon company for the first quarter of 2024, its turnover in the reporting period amounted to UAH 6.1 billion, which is 10% higher than last year's figure.

According to our estimates, based on turnover data, the company exported 600-700 thousand tons of grain during the reporting quarter, mainly using its river terminal on the Danube. Also, according to our estimates, Nibulon continues to be among the TOP-5 exporters of grain and oilseed crops from Ukraine.

The company's operating profit for the first quarter of the year amounted to UAH 526 million, almost unchanged compared to the corresponding period of the previous year (partly the company's operating profit may be related to the impact of the devaluation of the hryvnia, since exports make up almost 100% of the company's turnover).

On the other hand, the devaluation of the hryvnia leads to losses from the revaluation of the company's debt nominated in foreign currency - during the reporting period, this loss amounted to more than UAH 500 million, as a result of which Nibulon received a net loss in the amount of UAH 436 million (in the first quarter of 2023, the company's net profit amounted to UAH 247 million, for 2023 as a whole - UAH 310 million).

As of March 31, 2024, the amount of the company's debt is UAH 18.4 billion, and its overall financial standing remains quite weak.