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Trigon Agri: Trigon Agri A/S 4Q 2015 Interim Report

Business update

The Company is continuing to work towards carrying out its declared
strategy of disposing of noncore assets so as to focus on its
consistently profitable core Ukrainian assets. The external
environment in which this is done has continued to deteriorate with
ever tighter capital controls in Ukraine as it seeks to stabilize its
economy which is experiencing an extreme economic and financial
crisis, and a worsening economic and financial crisis in Russia
affecting the asset values of the Company in hard currency terms. The
ever tighter Ukrainian capital controls in particular are impacting
the Company's ability to manage its group wide cash flow needs. In
order to secure the survival of the Company through these challenging
times the Company needs to secure adequate working capital.
Accordingly the Company announced an EGM to be held on March 4 to
raise additional capital through the issuance of convertible bonds.
As all proceeds from divestments are controlled by the bond holders
this was deemed to be a necessary course of action coordinated with
the Bondholder's Committee.

Disposals update

Work continues on the divestments side. The Company is working on
completing the Rostov asset divestment ahead of the previously
announced completion date. The Company will report on progress as it
happens as was recently done on the sale of a stake in the Estonian
dairy business.

Financial result of the Group

· Total revenue, other income, fair value adjustments and net
changes in inventory from continuing operations amounted to EUR 41.8
million (EUR 66.9 million in 2014). Out of that decline, EUR 13.9
million was due to the deconsolidation of the Estonian milk business
starting from Q2 2015 and lower milk prices, while EUR 2.1 million
was due to lower volumes of third party grains handled by our trading
operation in Ukraine.

· EBITDA from continuing operations stood at EUR 10.0 million (EUR
16.7 million in 2014). Out of that drop, EUR 3.7 million was related
to the de-consolidation of the Estonian milk business and a sharp
drop in milk prices.

· The Net loss was EUR 53.0 million (loss of EUR 13.3 million in
2014) including EUR 49.2 million loss from discontinued operations
that largely consists of revaluation of land and buildings to
transaction value in relation to the Rostov framework agreement that
resulted in a loss of EUR 31.3 million, and currency translation
differences were recycled from Other comprehensive income to Income
statement in total amount of EUR 13.8 million

Telephone conference details

A telephone conference will be held today, on February 29, 2016 at
10.00 CET.


Joakim Helenius, President and CEO, will present and comment upon the
results. There will also be an opportunity to ask questions.

To participate in the telephone conference, please call one of the
following numbers:

SE: +46 8 505 564 74

UK: +44 203 364 5374

US: +1 855 753 2230

FI: +358 981710460

NO: +47 235 002 10

DK: +45 354 45 580

CH: +41 225 675 541

The presentation material will be available on
before the telephone conference starts. A recording of the telephone
conference will be available afterwards on

Investor enquiries:

Mr. Joakim Helenius, CEO of Trigon Agri A/S, Tel: +372 66 79200,

About Trigon Agri

Trigon Agri is an integrated soft commodities production, storage and
trading company with operations in Ukraine, Russia and Estonia.
Trigon Agri's shares are traded on the main market of NASDAQ OMX

For subscription to Company Announcements please contact us:

If you do not want to receive Trigon Agri press releases automatically
in the future please send an e-mail to the following address:


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