March 12, 2025
In 2024, the revenue of one of the biggest Ukrainian grain exporters – Nibulon company - amounted to 20.3 billion UAH, 11% less than in 2023
According to the financial report of Nibulon for 2024, its revenue in the reporting year amounted to UAH 20.3 billion, which is 11% less than in the previous year.
During 2024, Nibulon exported about 3 million tons of grains and oilseeds, and Nibulon's share among the largest exporters of grains and oilseeds from Ukraine in 2024 was about 6%. In terms of export volume in the reporting year, the company took third place, losing to Kernel and Louis Dreyfus, but ahead of such global giants as ADM and Cargill.
Approximately half of the total volume was shipped through the company's Danube terminal in Izmail (in 2024, Nibulon's share in the total export of grains and oilseeds through Danube ports was almost 20%).
It should be noted that with the decrease in grain stocks in Ukraine during 2024, exports through Danube ports significantly lost competitiveness compared to exports through deep-water ports.
As a result at the end of the year, Nibulon also significantly reduced its export volumes through the port of Izmail.
As for other financial performance figures of Nibulon in 2024, most of them significantly deteriorated compared to the previous year. The reason is still the same - a decrease in grain stocks in Ukraine, which caused a decrease in export profitability along the entire value chain.
The company's gross profit (the difference between revenue and cost of goods sold) in 2024 amounted to UAH 2.2 billion (in 2023 - UAH 3.4 billion), at the same time, the net loss in the reporting year amounted to UAH 2 billion (in 2023, the loss was almost half as much - UAH 1.2 billion, the main reason for the deterioration of the result is losses from the revaluation of Nibulon's loans nominated in foreign currency).
In general, Nibulon's financial standing remains unsatisfactory - the company (according to Shareuapotential estimations) continues to balance on the verge of bankruptcy. Its assets, according to official financial statements, include fixed assets worth UAH 20.3 billion, inventories (UAH 4 billion) and cash (UAH 500 million). The main source of financing remains bank loans (UAH 19.4 billion), while Nibulon's equity as of December 31, 2024 amounted to UAH 640 million – the company remains highly indebted.