Companies

Industrial Milk Company (IMC PW)

Business Profile

IMC is an integrated agribusiness operating 136,700 ha of farmland and 554 kt of storage capacity in northern and central Ukraine. The company focuses on growing, storing and processing crops such as corn, sunflower, wheat and potatoes (88% of 2013 revenue). IMC is also involved in cattle breeding and milk production, remaining one of Ukraine’s top-10 industrial milk producers.

Financial Summary

Indicator20132014201520162017E
Sales ($m)115138************
EBITDA ($m)4956************
Net Income ($m)26(47)************
Net Debt ($m)124127************

Valuation Summary

Indicator20132014201520162017E
P/E3.4neg.************
P/Sales0.770.64************
EV/EBITDA4.43.8************
P/Book0.583.44************
Prices are quoted in UAH.


*Data available to Dragon Capital's institutional clients only.