4 May 2023

The revenue of the largest Ukrainian sugar producer in 2022 amounted to almost 7 billion UAH, the net profit was more than 1 billion UAH.

In 2022, Radekhiv-Tsukor became the largest Ukrainian sugar producer with an output volume of 340,000 tons (compared to 266,000 tons the previous year and 220,000 tons in 2020).

The financial performance of the company are also improving.

According to the official financial statements of Radehivsky Sugar LLC in 2022, the company's turnover amounted to almost UAH 7 billion, which was 72% higher than in 2021 (UAH 4 billion). The main factors are the increase in sugar sales due to increased production, as well as the increase in prices (on average, sugar prices in Ukraine in 2022 increased by 23%).

In the reporting year, the company's operating profit amounted to UAH 1.6 billion, net profit – UAH 1.151 billion.

The company's inventory stock as of the end of 2022 have significantly increased compared to last year (from UAH 1.5 billion to UAH 2.6 billion) due to a significant increase in sugar production. We expect the company's financials to continue to improve in 2023, following the realization of the sugar inventory.

The general financial standing of Radekhiv-Sukor remains good, the main source of assets financing is equity (3.7 billion UAH as of 31.12.22), while as of the end of 2022, the company's bank loans amounted to less than UAH 600 million.

Our recent overview of the Ukrainian sugar market is available here.