AgroGeneration publishes its 2023 annual results

AgroGeneration, a grain and oilseed producer in Ukraine, presented its annual results for the year 2023. During this period, the company faced significant challenges related to the war in Ukraine, the significant drop in prices, increase in operating costs, and export restrictions imposed by several neighboring countries.

AgroGeneration recorded a decrease in its turnover, going from 25.864 million euros in 2022 to 16.914 million in 2023. Despite these difficult conditions, the group's EBITDA increased slightly, reaching 0.3 million euros in 2023 compared to a loss of 5.8 million in 2022. This improvement is the result of efforts to optimize workforce and operational efficiencies. However, the net result remains in deficit, although having been reduced considerably from 31.6 million in 2022 to 7.9 million in 2023.

The year 2024 promises to be difficult, with the war continuing to heavily affect Ukrainian production areas and energy infrastructure, but measures have been taken to prepare for the spring planting campaign. The company remains cautious about its economic outlook for the coming year.