Mriya Agroholding in 2012 increased its grain and oilseeds harvest by 54.5% compared to 2011, to 1.071 million tonnes, reads a prospectus for offering eurobonds, a copy of which has been sent to Interfax-Ukraine.
According to the document, the company harvested 772,000 tonnes of
wheat (a rise of 60% year-over-year), 176,700 tonnes of corn (a rise of
52%) and 112,000 tonnes of rapeseeds (a rise of 53.6%).
The barley harvest fell by 40% on 2011, to 2,600 tonnes, and the buckwheat harvest was down by almost 63%, to 1,300 tonnes.
In 2012, the holding harvested 134,800 tonnes of potatoes, and it cut
sugar beet production by 35.4%, to 956,080 tonnes, due to a reduction
in the area of fields with sugar beets.
The document said that last year the holding managed to increase the
yield of many crops, particularly, wheat, rapeseeds, potatoes and
barley.
As of late 2012, the holding’s land bank stood at 298,040 hectares compared to 295,000 hectares as of late 2011.
According to the document, Mriya satisfies 95% of its own needs for
seeds of wheat, barley and potatoes and 90% for rapeseeds. In the near
term the holding plans to start selling grain crop seeds to third
parties.
Mriya Agroholding in 2012 saw a $174.29 million consolidated net
profit under international financial reporting standards (IFRS), which
is 16.2% up on 2011. Its revenues grew by 29.7%, to $347.94 million, nd
if taking into account a rise in the value of its biological assets – by
32%, to $563.04 million.
Mriya Agroholding in late March announced its plans to refinance 2016
eurobonds worth $250 million issued in 2011. Mriya planned to pay
$1,067.50 per bond with the face value of $1,000 if the offer is
accepted by April 10, 2013 and $1,037.50 until April 24, 2013.
In April Mriya placed five-year eurobonds worth $400 million at 9.75% per annum.
