| | POLISH FINANCIAL SUPERVISION AUTHORITY | |
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| | | UNI - EN REPORT No | 28 | / | 2012 |
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| | Date of issue: | 2012-08-29 | | | | | | | | |
| | Short name of the issuer | | | | | | | |
| | KSG AGRO S.A. | |
| | Subject | | | | | | | | | | |
| | Preliminary overview of KSG Agro S.A. 1H2012 financial results | |
| | Official market - legal basis | | | | | | |
| | Art. 56 ust. 1 pkt 1 Ustawy o ofercie - informacje poufne
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| | Unofficial market - legal basis | | | | | |
| | Contents of the report: | | | | | | | | |
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The Board of Directors of KSG Agro S.A. (the “Company") is pleased to publish management account figures for 6 months 2012 ended 30.06.2012, which are not audited yet. Currently they are being audited and once the auditors review is signed the Company will publish the formal semiannual report on the date as was previously indicated.
USD thousand For the 6 months ended 30.06.2012
Income Statement summary 30.06.2012
Income 7,677
EBITDA 13,854
Profit for the period 8,975
Balance Sheet summary
Property, plant and equipment 53,298
Total non-current assets 80,167
Cash and cash equivalents 4,808
Inventories 14,071
Current biological assets 41,115
Total current assets 79,504
Total assets 159,671
Total equity 100,122
Loans and borrowings 6,358
Total non-current liabilities 7,195
Loans and borrowings 35,794
Total current liabilities 52,354
Total equity and liabilities 159,671
Net debt/EBITDA 2.70
Return of equity 0.15
Current ratio 1.52
*Notice: The presented financial results for 2011 are unaudited management accounts. The Group’ management believes that audited accounts will be of no material difference from its management accounts
Revised forecast for 2012:
After 6 months of 2012 the Group plans to achieve such further operational results in 2012 (revised): land bank under control of 100 ths hectares by the end of the year (including 65.3 ths ha of harvested land), storage capacities of 120 ths tonnes and total grain harvest of 122.8 ths tonnes. These operational results are expected to lead to the following financial performance in 2012: Revenue, EBITDA and Net Income of USD 53.8 mln, USD 25 mln and USD 14.2 mln, respectively.
Legal grounds: Article 56.1 of Polish Act of 29 July 2005 on Public Offering, Conditions Governing the Introduction of Financial Instruments to Organized Trading, and Public Companies, and Article 14 of the Luxembourg law of 11 January 2008 relating to the transparency requirements in relation to information about issuers whose securities are admitted to trading on a regulated market.
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| | Annexes | | | | | | | | | | |
| | File | Description | |
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