Obbligazioni societarie HIGH YIELD e oltre, verso frontiere inesplorate - Vol. 2
- Creatore Discussione gionmorg
- Data di Inizio
captain sparrow
Forumer storico
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Ekosem-Agrar AG with positive operating development in the first half of 2021
- Total output at EUR 343 million (previous year: EUR 336 million)
- Sales revenues up 12% to EUR 235 million (previous year: EUR 209 million)
- Cash EBITDA increases by 23% to EUR 32 million (previous year: EUR 26 million)
- Mark of 1 million tons of raw milk exceeded within twelve months
- Interest date of the Bond 2019/2024 on Monday
Walldorf, 30 July 2021 – Ekosem-Agrar AG, the German holding company of Russian milk producer EkoNiva Group, continued to grow slightly in the first six months of 2021 based on preliminary figures. Despite the weaker ruble, the company achieved a 12% increase in sales revenues to around EUR 235 million (previous year: EUR 209.0 million). In ruble terms, the increase in sales revenues was 32%.
Total output (revenue plus changes in the balances of fall-ploughed land and of agricultural produce and biological assets as well as other operating income) increased slightly in the first half of 2021 to EUR 343 million (previous year: EUR 336.0 million). At EUR 130 million, earnings before interest, taxes, depreciation and amortization (EBITDA) were just on a par with the prior-year period (EUR 132.8 million). In ruble terms, EBITDA was up 14 percent. The share of cash EBITDA (EBITDA minus change in fair value), however, increased significantly by 23% to EUR 32 million (previous year: EUR 26.3 million); in ruble terms, the increase in cash EBITDA was 43%.
Stefan Duerr, Chairman of the Management Board of Ekosem-Agrar AG: "After having mostly completed our investment program in 2020, we will be generating successively higher cash flows from our now 40 modern dairy cow facilities. The company's ability to service its debt is thus permanently secured."
On Monday, 2 August 2021, the company will pay the interest coupon on the Bond 2019/24 (ISIN DE000A2YNR08). The bond with a volume of EUR 100 million yields interest of 7.5% p. a. for investors.
12-month milk production exceeds the mark of 1 million tons for the first time
In June 2021, the Group also exceeded the mark of one million tons of raw milk for the first time on an annual basis. As of 30 June 2021, a production output of more than 1,026,000 tons was achieved in the preceding twelve months. The Group is thus further expanding its leading position in Europe.
In the first six months of 2021, the total herd in raw milk production grew to more than 212,000 cattle (31 December 2020: about 199,700 cattle). The number of dairy cows increased by about 5% from the end of 2020 to about 110,000 head (31 December 2020: about 105,000 dairy cows). Daily milk output also increased by 6% in the first half of 2021, averaging 3,084 tons compared to the end of the year (31 December 2020: 2,900 tons). At the end of 2020, EkoNiva's share of total commercial milk production in Russia was already about 6%.
The Group is currently building three more dairy cow facilities in the Moscow region, Tatarstan and Bashkiria, with a total capacity of 9,900 cows and a production volume of about 100,000 tons of raw milk per year
Sto comprando la 2022
cpandrea
Forumer storico
personalmente consiglio prudenza per Ekosem, io sono uscito con tutto a 99 e rotti appena letta e sono rientrato a 81 con 1/4 del nominale a 81 sulla 22
ieri ho fatto uno switch da 22 a 24 con leggero guadagno per incassare rateo, da ieri la 24 è particamente a 0 di rateo
a me preoccupa seriamente il fatto che il bond sia in carico alla società tedesca, se effettivamente dovesse entrare la banca creditrice russa temo che non le fregherebbe nulla dei 2 bond tedeschi
ieri ho fatto uno switch da 22 a 24 con leggero guadagno per incassare rateo, da ieri la 24 è particamente a 0 di rateo
a me preoccupa seriamente il fatto che il bond sia in carico alla società tedesca, se effettivamente dovesse entrare la banca creditrice russa temo che non le fregherebbe nulla dei 2 bond tedeschi
fabriziof
Forumer storico
Perche?
cpandrea
Forumer storico
Il bond 25 è secured, anche se poi sarebbe da vedere la qualità degli immobili a garanzia ed il loro valore in caso di liquidazione
cpandrea
Forumer storico
La banca russa ha una call presumo a prezzi bassi sulle quote della società russa, quindi temo che poi non si farebbero scrupoli di fregare i bondisti tedeschi. Se il bond fosse emesso dalla società russa vedrei la cosa in maniera diversa
IL MARATONETA
Forumer storico
Sei iperattivo in questo periodo. Io invece attendista per scarsa liquidità. Periodo magro di cedole giugno e luglio.
