Тrigon Agri

25 серпня 2016 00:53

Рейтинг 25 самых эффективных растениеводческих компаний Украины

Текст: Ольга Дружерученко

Впервые рейтинг эффективности растениеводческих компаний мы составляли год назад, когда наша команда еще работала в журнале «Forbes Украина». Занимаясь подготовкой очередного августовского выпуска Forbes, традиционно посвященного аграрному бизнесу, мы решили проранжировать компании сектора, но долго спорили по поводу показателя. Как правило, для составления рейтингов агрохолдингов украинские СМИ и аналитические агентства использовали размер земельного банка.

На наш взгляд, это в корне неправильный подход: в Украине нет рынка сельскохозяйственной земли, ее можно только арендовать. Ранжировать компании по размеру того, что им не принадлежит и лишь временно находится под их контролем, — это история не о бизнесе. Что же тогда о бизнесе? Цифра, демонстрирующая, насколько эффективно агрохолдинги используют арендованные поля, сколько денег они получают с каждого обрабатываемого гектара. Руководствуясь этой логикой, мы остановились на показателе EBITDA на гектар земли, которая находится в обработке (не просто в аренде) у компании. Мы не настаиваем на том, что это максимально точный и единственно правильный показатель экономической эффективности растениеводческого бизнеса. Но более релевантный расчет наши аналитики пока не разработали.

Как и в прошлом году для Forbes, так и в этом году для Landlord мы ранжировали компании, которые занимаются растениеводством и арендуют минимум 35 000 га сельскохозяйственной земли. Если холдинг многопрофильный (в структуре бизнеса есть животноводство, переработка, трейдинг), мы вычленяли растениеводческую EBITDA и делили ее на количество обрабатываемых гектаров. Непубличные компании, отказавшиеся отвечать на отправленный им запрос, оценивались сравнительным методом (с помощью рыночных мультипликаторов публичных компаний).

Средняя EBITDA на гектар в нашем рейтинге составляет $314. Как и в минувшем году, в списке лидирует холдинг «Сварог Вест Групп», хотя показатель у компании существенно снизился: с $700/га до $540/га. Руководитель «Сварога» Андрей Гордийчук объяснил такое положение дел существенной потерей урожая в 2015‑м из‑за неблагоприятных погодных условий.

К удивлению читателей, в прошлом году в наш рейтинг не попал один из крупнейших в Украине агрохолдингов — группа компаний «Кернел». EBITDA растениеводческого сегмента бизнеса «Кернела» в 2014 маркетинговом году была отрицательной. В 2015‑м, согласно финансовому отчету компании, она составила $98 млн. В ответе на запрос Landlord компания указала EBITDA за календарный 2015 год. На гектар получилось $350.

Еще один интересный фигурант рейтинга, которого мы не ожидали увидеть в нашем списке, — компания HarvEast Holding. Несмотря на то что поля компании находятся в зоне АТО, ее сотрудникам удалось провести и посевную, и уборочную, обеспечив холдингу EBITDA $121/га. В рейтинге есть и другие компании, чьи земли расположены близко к зоне АТО: «Агротон» и «АПК‑Инвест». Они нашли в себе силы и мотивацию не опускать руки, невзирая на обстрелы и мины в полях. И их настойчивость и целе­устремленность попали в благодатную и благодарную почву — плодородный украинский чернозем.

 

24 червня 2016 19:38

Рейтинг 45 крупнейших аграрных холдингов Украины

45 аграрных компаний совокупно контролируют около 4,1 млн га сельхозземли. А их общая выручка превышает $10,8 млрд. Мы сознательно не ранжируем компании по размеру земельного банка — этот актив им не принадлежит. Другое дело — заработанные компаниями деньги. Это честные деньги, полученные благодаря грамотному использованию взятой в аренду земли. В наш рейтинг вошли вертикально интегрированные холдинги, в структуре бизнеса которых есть несколько взаимосвязанных дивизионов: от растениеводства до производства готовой продукции и ее реализации. Мы не включали в рейтинг дочерние предприятия транснациональных компаний и переработчиков (которые сами не производят сырье). Ранжировали компании по выручке за 2015 год. Данные брали из отчетов компаний или получали от них в ответе на наш запрос. Ряд компаний не предоставили информацию в связи с политикой конфиденциальности или невозможностью озвучить цифры до официальной публикации в конце весны. Выручку таких предприятий мы оценивали самостоятельно — опирались на доступные данные и прибегали к сравнительным методам оценки выручки. В рейтинге эти компании отмечены звездочкой.

Текст: Ольга Дружерученко, Дария Исакова

**Прогнозы компании (открытые данные).

 

 

 

24 червня 2016 19:38

The largest agroholdings. Rating of 45 largest agricultural holdings in Ukraine

45 agricultural companies collectively control about 4,1 mln ha of agricultural land. Their total revenue exceeds $10,8 billion. We deliberately do not rank the companies by the size of the land bank, because this asset is not their property. Another thing is money gained by the companies.

It is honest money obtained due to skilful use of the leased land. Our rating includes vertically integrated holdings whose business structure includes several interrelated divisions: from crop growing to the production of finished products and their sale. We have not included subsidiaries of multinational companies and processors in the rating (who do not produce the primary products themselves). We ranked the companies in terms of the revenue obtained in 2015. The data were taken from the companies’ reports or received in reply to our request. A number of companies did not provide the information due to the privacy policy or inability to show figures before their official publication in the end of spring. The revenue of such enterprises was evaluated by us based on the available data and comparative methods of revenue assessment. These companies are marked with an asterisk in the rating.

№ 1 Кernel

Owner: Andrey Verevskiy

Revenues: $2,329.5 mln

Segment: oil, grain crops

This year Agroholding of Andrey Verevskiy feels as confident as in 2015. In the second quarter of 2016 marketing year (started in July 2015) the largest producer of oil in Ukraine increased its profit by 2.7 times, up to $ 117,750,000. Seven plants of the company processed about 3 million tons of sunflower seeds. Last year was successful for the holding, it’s debts declined by nearly 37%, to $ 465,8 million.

Holding of Verevskiy is actively looking for new ways of development, as well as markets. For example, Kernel has already received a permission to export corn to China. In 2016, the company started producing rapeseed oil at its two factories. Kernel actively invests in technologies. Now it upgrades Transbulkterminal and two elevators in the Chernihiv region. However the company said goodbye to its elevator in Nikolaev and sold it for $ 993,000. Verevskiy is also negotiating the sale of two oil-extraction plants in Russia. At the same time the agricultural holding increases its capacities in Ukraine. Late in February 2016, Kernel bought Ellada factory in Kirovograd region for nearly $ 96 million, which formerly belonged to Creative Company, and was transferred as the pledge under credits to the governmental Ukrgasbank. Kernel will pay this amount within the next five years”, – reported in the holding. The capacity of Ellada oil extraction plant is 560,000 tons of sunflower seeds per year.

Having the land bank of 390,000 hectares Kernel is one of three largest agricultural holdings in Ukraine. So far, the company decided to suspend the increase of its land bank and to pay more attention to improving its efficiency on existing fields. The main crops are wheat, corn and sunflower.

In 2015 Kernel increased sales of grain by 12% compared to 2014 to the record volume of 4,744 million tons. Mr.Verevskiy is sure that this year his company will export 4.5 million tons of grain. However, the holding has to face losses, in January of 2016 the court ordered Kernel to pay $ 2.4 million of compensation under the legal preceding about delivery of contaminated sunflower oil to EU in April 2008.

№ 2 Nibulon

Owner: Aleksey Vadaturskiy

Revenues: $1,946. mln

Segment: plant growing, grain trade

Nibulon owned by Aleksey Vadaturskiy is not only one of the largest exporters of Ukrainian agricultural products, but also one of the most efficient crop plants. Nibulon farms 82,500 hectares of land in 12 regions of Ukraine. The company specializes in the production of wheat of I-II classes. In 2015, the company collected in total 310,000 tons of grains and oilseeds, the average yield of early grain group was 43.3 cen/ha. Nibulon does not save on agricultural equipment. Last year the holding invested in its vehicle fleet renovation about $ 7 million. NIBULON continues to increase its exports. In 2014/15 marketing year it sent 4.2 million tons of grain to foreign markets, and in 2015/16 marketing year the company plans to increase the export of grain by 18%, up to 5 million tons.

The company works with 64 states in the Middle East, Europe and Africa. In 2015, Nibulon started exporting grains and oilseeds to China, Thailand and Mexico. Such export volumes is achieved due to the holding’s own fleet. The company is also building a transshipment terminal on the Southern Bug River. The investments in the project will amount to about UAH 450 million. By this year summer the terminal should start operation. The new facility will allow the simultaneous storage of 76,000 tons of grain, and the capacity for shipping on water transport will be 12,000 tons per day. NIBULON also provides transportation services to other traders. In 2014/15 marketing year the company transported over 1.4 million tons by its shipping vessels.

It is expected that after completing the investment project for Dnieper and Southern Bug dredging, the annual volume of freight traffic on these rivers reaches 3 million tons of grain. This will allow discharging about 46,000 rail carriages or about 100,000 trucks per year. Mr. Vadaturskiy actively attracts international funding for the agricultural holding development. In the summer 2015, the EBRD provided a syndicated loan of $ 130 million to the company for investment projects to develop the export as well as logistics and grain storage infrastructure.

№3 MHP

Owner: Yuriy Kosyuk

Revenues: $1,183.3 mln

Segment: poultry, plant growing, meat processing

The year 2015 was not the most successful for Mironovsky Khleboproduct agricultural holdings and Yuri Kosyuk. The company’s revenue decreased by 14%, to $ 1.2 billion. Partially, it was caused by the national currency devaluation. The company also reduced its exports by 6% among other reasons due to the Russian market closure. During the last year Mr. Kosyuk was trying to agree on restructuring the Eurobond to total amount of $ 750 million. In March 2016, 91% of holders of Mironovsky Khleboproduct securities agreed to the new terms and conditions. It will help to minimize the impact of the exchange rate fluctuations on the company’s operations, although it will cost Mr. Kosyuk extra $ 8.5 million.

In 2015, Mironovsky Khleboproduct successfully exchanged assets with Agro-Culture, Russian company. Mr. Kosyuk exchanged 40,000 hectares of the land and granary with the capacity of 150,000 tons in the Voronezh region for 60,000 ha of land and granary for 90,000 tons of Agriculture in Lviv, Ivano-Frankivsk and Ternopil regions. Mr. Kosyuk has already invested UAH 20 million into a new division. The holding continues to develop. “This year we plan to complete several projects that will allow us to increase exports and to optimize costs by providing the company with the hatching eggs of our own production”, – said Mr.Kosyuk.

To achieve this, Mironovsky Khleboproduct will increase the production of Peremoga Nova poultry farm. In 2016 due to investments made into the expansion of Myronovska poultry farm and Orel-Leader poultry factory, the agricultural holding will increase the production of chicken by 40,000 tons. In spring, Mironovsky Khleboproduct together with its partners launches its own poultry meat processing facility in the Netherlands. Mr. Kosyuk intends to invest $ 110 million in the development of his holding this year. Mironovsky Khleboproduct will also expand markets and increase exports including exports to traditional areas: the CIS countries, the Middle East, the European Union. In the end of 2015 Mr.Kosyuk agreed to supply about 10,000 tons of poultry meat to Saudi Arabia market. During next two years, the businessman also wants to increase the land bank of the company by at least 50,000 ha up to 420,000 ha.

№4 UkrLandFarming

Owner: Oleg Bakhmatyuk

Revenues: $954.8 mln*

Segment: eggs, egg products, grain

Despite all best efforts of Oleg Bakhmatyuk, the agricultural holding owner, to restore full operation of UkrLandFarming, it failed to get profit last year. Its debt increased in 2015 to $ 1.56 billion. During last two years, it has been going through hard times: due to the conflict in Donbass Region and annexation of the Crimea the company has lost several businesses and has lost some of its land bank. “Two poultry farms were left in the Crimea, and we have frozen them, as well as 13,000 hectares of the land,” said Igor Petrashko, the Deputy General Director of UkrLandFarming. In total ULF leases 654,000 hectares and is the largest agricultural holding of the country by the size of the land bank. The value of the company was affected by the devaluation. In 2015, Mr.Bakhmatyuk managed to agree on restructuring of Avangard company debts.

The payment of $ 200 million under Eurobonds was extended by the creditors until October 2018. Mr. Bakhmatyuk did not stop investing in the company’s development. He has invested $ 100.3 million in the construction of elevators. In 2016, ULF is going to start building of the port. The investment in the project will amount to about $ 1 billion. The businessman is looking for a partner to implement it. It is assumed that the port transshipment capacity will exceed 15 million tons. However, before he gets engaged in large-scale projects, Mr.Bakhmatyuk has to settle the issue with Nibulon Company. Its owner Alex Vadaturskiy required payment over $ 17.5 million. Rise Company owed this amount to NIBULON since 2010.

Then it was owned by businessman Vitaly Tsekhmistrenko. After the introduction of export quotas on grain trading, it has not delivered 158,000 tons of corn to the trader. Rise joined Bakhmatyuk’s holding company only in 2011. However, this fact did not prevent the International Organization for Grain and Feed Trade (GAFTA) from declaring the Rise default, because it failed to implement the court decision in favor of Nibulon S.A. The Kyiv Court of Appeal also made a decision in favor of NIBULON. UkrLandFarming does not acknowledge the debt to NIBULON. Moreover, Rise did not receive any prepayments from the latter. Mr.Bakhmatyuk is not going to give up, and is ready to continue the proceedings.

№5 ViOil

Owner: viktor  ponomarchuk

Revenues: $373.3 mln

Segment: oil

Being one of top three largest Ukrainian producers and exporters of sunflower oil, ViOil group plans to expand seriously its production this year. It is going to construct a new plant to process soya and rape with the capacity of 1,100 tons and 1,500 tons per day, respectively, on the territory of Chernovtsy oil and fat plant. “By May 2016 the company will also increase the capacity of Vinnitsa oil and fat processing plant in regard to the sunflower seeds by 600 tons per day up to 2,800 tons”, said Victor Ponomarchuk, ViOil owner. This is the most powerful company in the Ukrainian oil and fat industry in terms of processing on one platform. Under the sunflower seeds deficit the company has provided for the opportunity to process three types of oil crops: sunflower, rape and soybeans. This allows full loading of its capacities. ViOil gives another part of purchased primary products to other plants on tolling scheme. The company is the Ukrainian leader in production of rapeseed oil, but there are small amounts so far: ViOil processes approximately 100,000 tons of rapeseed per a year.

The company exports almost all the production. The main ViOil markets are the CIS, Middle East, Southeast Asia, Africa, and Europe. Ukrainian producers have to compete with palm oil in foreign markets. It is not easy to substitute it, because it is a very big production, and its cost is relatively low. Recently, the group began to supply refined rapeseed oil to China. It is possible to store 200,000 tons of oilseeds at the company’s elevators at the same time. Mr.Ponomarchuk has always been cautious about borrowings; ViOil has never had a high debt load. One of the businessman’s rules is: one should set up a business that will work better tomorrow as compared to this day. “It’s impossible to works without credits in our business. But there is a happy medium, and you have to feel it, – assures the owner of ViOil. – The borrowing is effective in the growing markets, but in crisis debts often become a heavy burden for companies”.

№6 Аstarta

Owner: Victor Ivanchik and Valeriy Korotkov

Revenues: $347.5 mln

Segment: sugar production, milk production and grain growing

Astarta Agro Holding continues to export the most part of its products. In 2015, under the quota for duty-free import of sugar in the EU, the company exported 10,000 tons of sweet sand to the market. It also started to export corn to China. This country has become a major buyer of soybean oil for Astarta. The company grows grains and oilseeds at its 245 000 hectares. “In 2015, we focused on increasing of operational efficiency.

The complicated agricultural market conditions required to speed up work on reducing the cost and applying the best technology of production “, says Victor Ivanchik, the owner and the general director of Astarta. The total investment in the company development in 2015 amounted to about EUR 24 million. Mr.Ivanchik also intends to develop the production of soybeans and soybean oil. Astarta attracted $ 35 million from IFC in October 2015 to implement this project.

№7 Allseeds Group

Owner: Vyacheslav Petrishche

Revenues: $294 mln*

Segment: oil

In 2010, due to the disagreements with partners, Vyacheslav Petrishche was forced to sell Allseeds company, which he had been building for 15 years, to Andrew Verevskiy, his competitor and the owner of Kernel agricultural holding. However, Mr. Petrishche did not give up and recreated a company with the same name. In 2015 Allseeds launched a new oil extraction plant in the port of Yuzhny with the capacity of 700,000 tons of sunflower seeds per year. Investments in the project amounted to $ 200 million.

The businessman also plans to build a port terminal with handling capacity of 6 million tons per year and the soybean processing plant with the capacity of 5,000 tons per day. By 2021, Mr.Petrishche plans to invest about $ 400 million in the development of the company. His goal is to have a company with the capital of $ 1 billion. According to its shareholder, Allseeds capitalization reached $ 350 million now. All products of the company will be exported. This year Allseeds expects to increase exports by 75%. “We are thinking about opening representative offices in India, China and Iran. These markets offer tremendous opportunities and consumption is growing in these countries”, says Mr.Petrishche.

№8 Аgroprosperis

Owner: NCH Capital (usa)

Revenues: $293.1 mln*

Segment: grain growing

Agroprosperis Group of companies, which is managed by NCH Capital investment fund, gathered 1.8 million tons of grains and oilseeds in 2015. The company priority is corn, sunflower, wheat, rape and soybeans. Over the past year NCH Capital invested over $ 25 million in the group development in Ukraine, $ 14 million of which were spent for the construction and equipping of Zhmerinka elevator with the capacity of 40,000 tons. In the near future, Agroprosperis will focus on the delivery of seeds and crop protection products for farmers, and also will have forward contracts with foreign traders.

“Last autumn Agroprosperis presented affiliate platform for national producers. We include small and medium-sized grain producers in our supply chain before and after growth: first, we sell them seeds and plant protection products, and then we buy grain and ship it for export “, says Igor Osmachko, General Director of Agroprosperis. The company does not plan to increase the land bank. Now Agroprosperis controls 430,000 hectares in Kharkov, Sumy, Vinnitsa and Khmelnitsky regions.

№9 T.B.Fruit

Owner: Тaras Barschovskiy

Revenues: $219.1 mln

Segment: production of juice and juice concentrate

Being the largest producer of juice concentrates in Ukraine, T.B.Fruit Company continues its expansion in the foreign market. In the autumn of 2015, it launched a new plant in Moldova with the capacity of 200 tons of apples per day. T.B.Fruit already has companies in Poland: T.B.Fruit Dwikozy and T.B.Fruit Annopol, as well as Tank Trans Polska transportation company. The company’s products are sold in the EU, as well as in Canada, the US and China. The search for new directions for exports is partly associated with the Russian ban on import of Ukrainian goods.

“The Russian Federation is a big market, we sold 20,000 tons of juice concentrate annually there”, says Taras Barschovsky, the owner T.B.Fruit. “But we are actively developing new markets. Today, the company’s portion in the juice concentrate market in the European Union already makes about 20%, and each 15th bottle of apple juice in the United States is made using our concentrates”. Mr.Barschovskiy owns six factories in Ukraine, as well as the transportation company for liquid cargoes “Tank Trans Ukraine”. T.B.Fruit is engaged in growing of apples, cherries and strawberries.

№10 Ukrprominvest-Agro

Owner: Prime Assets capital Investment FUND»

Revenues: $185.3 MLN

Segment: cultivation of sugar beet, wheat and oilseed; sugar production; wheat processing (flour production)

One of key business of Ukrprominvest Agro is the cultivation of sugar beet and sugar production. Last year, two plants of the group (Kryzhopolsky and Gaysinsky) produced 195,000 tons of this product, which allowed the company to occupy the second place among Ukrainian sugar producers (with the market share of 14%). When establishing the holding, it was assumed that these two plants will only provide for Roshen Corporation factories. However, the share of these enterprises in Ukrprominvest Agro revenue makes 15% now.

The company also cultivates wheat and oilseed on its 122,000 hectares of land. Ukrprominvest Agro is developing dairy and meat business. A herd of cattle has 5,200 heads, and the pig farm grows 21,000 pigs per year. The group also has a mill complex and elevators. In 2015, Ukrprominvest Agro investments amounted to UAH 374,000,000. The money was mainly spent on the purchase of agricultural machinery.

№11 Promethey

Owner: Rafael Goroyan

Revenues: $150.3 mln

Segment: grain trading

Promethey is one of the largest grain traders in the country, which annually increases its sales. In 2015, the company sold over 0.5 million tons of grains and oilseeds, most part of which was exported. Now Promethey possesses over 20 grain trucks and eight grain elevators with the storage capacity of 400,000 tons in Mykolayiv, Kirovograd and Kiev regions. Rafael Goroyan, the company owner, is completing negotiations on the purchase of another four granaries. The businessman plans to increase the number of elevator complexes up to 50 within five next years.

“When we buy grain elevators it is important for us to have logistics convenient for both producer and the buyer. Since setting up the business I am oriented to the manufacturer and move towards it”, says Mr.Goroyan. He compares Promethey with the stock exchange, which offers farmers not only competitive purchase price, but also solutions for storage, refining and transportation of grain. The businessman invests into development only his own funds.

№12 Industrial milk company

Owner: Aleksander Petrov

Revenues: $140.4 mln

Segment: grain growing, storage of grains and oilseeds, dairy cattle husbandry

Industrial Milk Company is one of public agricultural companies. A quarter of its shares have been listed at the Warsaw Stock Exchange for five years. This is the third large-scale business project of its owner and Aleksander Petrov, the Chairman of the Board of Directors. Previous 10 years Mr.Petrov was engaged in the production of cheese and owned Cheese Club corporation, whose share in the Ukrainian cheese market was 11%. In 2007, he sold his cheese business to Russian investors and concentrated on dairy farming. At the same time, the businessman bought several crop farms in Poltava, Sumy and Chernigov regions.

Today IMC farms about 137,000 hectares. Distance between fields belonging to the company is less than 20 km. This helps to reduce costs and to increase operational efficiency. The company’s capacity for storage of grains and oilseeds is more than 0.5 million tons. The IMC farms provide over 19,000 tons of milk per year. Mr.Petrov is constantly investing into the renovation of production facilities and agricultural equipment. In March, the company acquired six large-sized Fend tractors to total amount of $ 1.3 million. It is planned to pay back the investment within five years.

№13 Аgromars

Owner: Eugene and Marina segal

Revenues: $136.5 MLN*

Segment: poultry

Being the second largest poultry producer in Ukraine with the market share of about 14%, Agromars Complex by Eugene Segal (TM Gavrilіvskі Kurchata) increased its production and export in 2015. In summer it finally completed its reconstruction of Kurganskiy Broiler factory in Kharkov. Investments in the project amounted to Euros 35 million. The businessman hopes to increase the stock of broiler chickens up to 1 million. The additional capacity will allow Agromars to increase exports to EU countries, Middle East and Africa.

Obtaining of permission to send the chicken in Belarus and Kazakhstan was an excellent incentive for the development of export directions. In February this year, Ukraine has received a permit from the Ministry of Environment and Water to supply chicken to the United Arab Emirates. The list of companies that have received the right to export poultry meat in the country, together with Mironovsky Khleboproduct holding company by Yuri Kosyuk, included Agromars. The main Agromars manufacturing facilities are located in the village of Gavrilovka (Kiev region). The company also has two feed processing plants and a grain elevator.

№14 Globino

Owner: Aleksander Kuzminskiy

Revenues: $134.6 mln*

Segment: pig breeding, meat processing

Globino is a remarkable example of what the enterprising owner can make with a small slaughterhouse in the Poltava region within 18-year period of time. Today it is one of the country’s largest vertically integrated companies with a closed production cycle: from breeding to the delivery of finished meat and dairy products to retailers.

Globino Group includes meat processing plant, pig breeding farm, meat and diary complex, creamery, a crop enterprise, a trading house and even a training center, where personal growth is practiced using Mark Palchikis system. According to Aleksander Kuzminskiy, the owner of Globino, “practice has become a part of the corporate culture of the holding”. Globino share in the market of meat products make about 10%. Meat Processing Plant of Kuzminskiy produces daily about 100 tons of meat products from chilled meat. Pork and beef for processing are received from its own farms. The company refused to manufacture products from the frozen meat.[/su_spoiler]

№15 Аgrotrade

Owner: Vsevolod Kozhemyako

Revenues: $131.5 mln

Segment: crop farming, seed farming, livestock farming, grain export

Now it is time to change for Agrotrade holding by Vsevolod Kozhemyako. In 2015, the company’s revenues declined nearly by three times down to $ 131.5 million. Moreover, about 76% of this amount was provided by trading. But now the businessman decided to focus on crop growing. In the current unsustainable environment this trend remains profitable. The major focus of the company will be on the cultivation of wheat, corn and soybeans.

“Within three years, we will almost double our land bank up to 120,000 ha”, says AGROTRADE owner. It won’t be difficult for Kozhemyako to change the strategy, because his company is well systemized and structured. Each procedure is clearly described. In 2015, Agrotrade completed the factory construction in Kharkiv region and the elevator in Chernigov. The businessman has no plans for other large investments.

№16 Ukrainian agrarian investments

Owner: ONEXIM Group

Revenues: $123.3 mln*

Segment: grain growing

The holding was established in 2005 on the initiative of Stephen Jennings the founder of Renaissance Capital, Russian investment company. By 2009, the company had leased 286,000 hectares in 16 regions of Ukraine. However, due to the lack of current assets, it farmed only the fourth part of the land. In summer of the same year, the Ukrainian Agrarian Investments was headedby Alexander Kostenko and the holding began to make profit. The businessman sold the land unsuitable for agriculture, reduced staff and investments per hectare and began to work closely with EBRD. He borrowed funds to buy machinery and started to buy and construct elevators.

In 2012 Renaissance came under control of Onexim Group. The market began to talk about the sale of Ukrainian Agrarian Investments, but this never happened. Today, the holding is one of the largest landowners of Ukraine. Its land bank is 234,000 ha, 195,000 of which are cropped by the company. Ukrainian Agrarian Investments uses mini till and no till technology, which allows reduction of costs per hectare.

№17 Pologovskiy oil extraction plant

Owner: «Fonzass ag»

Revenues: $122 mln*

Segment: oil

Pologovskiy oil extraction plant is located in Zaporozhie region. This is one of the oldest and largest companies in the industry. It has been producing vegetable oils and oilseed coarse meals since 1974. The company has built up a complete production cycle from acceptance, storage, pretreatment of seeds to complete cleaning and subsequent packaging of the obtained oil. The company employs 891 people. Today, the Oil Extraction Plant can process up to 2,000 tons of sunflower seeds per day.

The Company sells sunflower oil under “Slavіya,” “Smachna Kraplya” brands in Ukraine. The finished products of Pologovskiy extraction plant is exported to the United States, Europe, Asia, the Baltic States, Turkey, India, Israel. The company makes extensive use of alternative sources of energy. It almost completely refused from the natural gas consumption and saves electricity consumption by heating the industrial premises with waste products.

№18 UkrAgroCom & Hermes-Trading companies

Owner: Anatoliy and Sergey Kuzmenko, Yuriy Skichko

Revenues: $112 mln*

Segment: wheat and oilseed growing, livestock breeding, grain trading

UkrAgroCom was founded in 2000 by Sergey Kuzmenko, the father of the current head of Kirovograd regional state administration, based on farms cultivating 5,000 hectares in the village of Golovkovka. Today, it is a farming corporation cultivating 75,000 hectares in Kirovograd and Dnepropetrovsk regions. UkrAgroCom and Hermes Trading specializes in growing and selling of grain and oilseeds, production of compound animal feeding staff, sugar, meat and dairy products. In the next few years, the corporation plans to increase its exports of grains and oilseeds to 2.5 million tons.

The group of companies owns Svetlovodsk river terminal and four elevators in the Kirovograd region with total capacity of 353,000 tons. The agroholding plans to increase the number of elevators to ten, as well as to build three new river terminals. Investments into agribusiness will make about $ 300 million. The group also includes Petrikіvske Moloko dairy complex with 5,000 heads of cattle and 11,500 pigs. The complex is capable of processing 70 tons of milk per day. At the end of last year it received the status of stud farm of Holstein cows breeding. Investments in the development of dairy production reached $ 30 million.

№19 Аgrein

Owner: «Аgrein holding limited»

Revenues: $111.8 mln*

Segment: crop farming, dairycattlehusbandry, graintrading

№20 Оliyar

Owner: Irina Zalizna

Revenues: $111.1 mln

Segment: oil

№21 Svarog West Group

Owner:  Аleksandr and Sergey Buryak

Revenues: $110 mln

Segment: crop farming

Within 13 years, the agricultural department which provided Shepetovsky sugar plant with its own primary products, turned into one of the most efficient companies in the crop farming. Today Svarog processes 80,000 hectares of leased land in the Khmelnytsky, Chernigovsky and Zhytomirsky regions. The company applies the technology of deep plowing and sowing in strips. According to Andrey Gordeychuk, the Chairman of the Board of Svarog West Group, the holding did not invent anything new but took the Soviet technology as the basis and improved it.

Along with it, it upgraded equipment reducing thereby fuel, fertilizer and plant protection products consumption by one third as well as increased productivity by a quarter as compared to the classical technology. The company relies on the cultivation of soybean and winter wheat. For the last five years it gathers the record harvests of these crops. Svarog is also engaged in vegetable production, juice production, seed production, dairy farming. 4,700 people are employed by the company.

№22 Bessarabia-B

Owner: Dmitriy Shederov

Revenues: $96 mln*

Segment: oil

Bessarabia B, Ismail oil extraction plant, has been producing oilseed coarse meal, sunflower oil and rapeseed oil and sunflower husk pellets for 10 years. The share of Bessarabia B in the Ukrainian sunflower oil market does not exceed 2%. The company exports its products to five countries in Europe. The company has a logistics advantage being the access to the port on the Danube River, as well as to the Black Sea ports. The elevator of oil extraction plant can store 30,000 tons of sunflower seed and 10, 000 tons of oilseed coarse meal.

The capacity for the granulation sunflower in husk pellets are 130 tons per day. For the last two years the company has been going through hard times. More than one and a half years Bessarabia B has been trying to get VAT reimbursement in the amount of UAH 66 million. As a result, in the spring of 2015, the plant was forced to suspend work. Two weeks later, the State Treasury reimbursed two thirds of the debt to the company. In the near future Bessarabia B plans to increase the volume of sunflower processing up to 1,000 tons per day.

№23 Аgro-Oven

Owner: Victor Zavorotny

Revenues: $91.6 mln*

Segment: meat production, crop growing

Agro Oven share in the broiler meat market is over 5%, and the company is among five largest poultry producers. The company has its own incubator, two meat processing factories and two feed milling plants. The company exports products to the CIS countries and Asia. After receiving the Halal Certificate, the holding will be able to supply poultry meat to the markets of Egypt, Kuwait, and Jordan. A part of Agro Oven products is sold through its own retail Meat House network. Moreover, the company is also engaged in swine breeding and crop growing.

The capacity of pig-breeding complex of the agricultural holding is 70,000 animals per year. Victor Zavorotny, the owner, has invested in the development of pig breeding about UAH 22 million. Agro Oven processes 16,000 hectares of land, 700 hectares of which are planted with potatoes. It has its own factory for processing and storage of this product. Almost all the businesses of the agricultural holding are in the Dnepropetrovsk region.

№24 Dniprooliya

Owner:: Ruslan and Olga Evstafevs, Mudgahit and Luytfyu turkkans, Аkhmet Penich

Revenues: $81.5 mln

Segment: oil

Dnіproolіya can be considered as one of the most successful startups in the last decade. It was founded in 2009 by a group of trading companies. By that time, they had been working in the market for seven years and decided finally to acquire their own oil extraction plant. The partners established a new company on the territory of the former housebuilding plant in Krivoy Rog. Some facilities had to be built from the ground up, some they managed to reconstruct and reequip. Investments in the project have already exceeded $ 50 million.

Today, the company produces about 12,000 tons of sunflower oil and 40,000 tons of oilseed coarse meal per month. Its own elevators and storage facilities can accommodate up to 40,000 tons of primary products. In the next couple of years, the owners intend to invest about $ 25 million in the construction of the third workshop of the extraction plant and to increase its storage capacity. Today, Dnіproolіya is one of the largest producers and exporters of oil and oilseed coarse meal.

№25 Ovostar Union

Owner: Boris Belikov, Vitaliy Veresenko

Revenues: $75.7 mln

Segment: eggs and egg products

Ovostar Union is the second largest producer of eggs and egg products in Ukraine, which controls 8% of the market. The holding is not going to stop and continues to increase its production. Last year the company completed the construction of four poultry houses, which allowed increasing production of eggs by 15%. In 2015, Ovostar began to export its products to EU countries. The holding also increased its export to the Middle East.

This allowed increasing the export by 2.6 times. Ovostar was the first company on the market to offer buyers branded eggs under Yansensvit TM. Now, it is the most recognizable brand in the market. Since 2011, Ovostar Union is listed at the Warsaw Stock Exchange. Now the holding capitalization is $ 145 million. Boris Belikov and Vitaliy Veresenko, founders of the holding, own equal share of the company.

№26 АPK‑Invest

Owner: Boris Kolesnikov

Revenues: $75.3 mln

Segment: pig breeding, crop growing, meat processing

APK Invest owned by Boris Kolesnikov was presented as the biggest innovation project in the agricultural sector of Ukraine. He invested UAH 3.5 billion in its development. Besides pig breeding and meat processing, the company is engaged in crop production, animal feed production and sale of finished products under M’yasna Vesna brand and Kolbaspischeprom through its own retail network.

APK Invest is the largest pork producer in the country, whose share in the market makes over 22%. The company’s herd is over 250,000 heads. APK Invest major production facilities are located in Krasnoarmeyskiy Rayon, Donetsk Region. Despite the proximity to the zone of military conflict, the agricultural holding continues to work. Last year, the company produced 42 thousand tons of meat.

№27 AgroGeneration

Owner: SigmaBleyzer Fund

Revenues: $70.3 mln*

Segment:: grain and oilseed growing, livestock breeding

AgroGeneration Agroholding appeared after the merger of the French company with the same name with Harmelia agricultural holding established by SigmaBleyzer foundation. As a result, the land bank of the merged company reached 120,000 hectares. Its fields are in Sumy, Zhytomyr, Kharkiv, Ternopil and Lviv Regions. AgroGeneration specializes in growing grains and oilseeds. Last year, the company collected more than 280,000 tons of the crops. About 40% of its production is sold on forward contracts. In 2015, AgroGeneration reduced long-term debts and increased the equity capital by issuing OSRANE subordinated convertible bonds. The restructuring allowed the holding to reduce significantly interest costs for the next four years. Due to the emission, the company additionally attracted EUR 3 million from an American investor.

* Data for the last 12 months (as of June 30, 2015).

№28 ТAS Agro

Owner: Sergey Tigipko

Revenues: $69.9 mln

Segment:: crop growing, dairycattlehusbandry

Sergey Tigipko’s holding was created through the merger of two agricultural companies, RoAgro and Tagron, which was caused by economic reasons. “The merger greatly simplified the asset management,” said Dmitry Schultz, TAS Agro Director. “The company has developed a uniform strategy for all processes: production, procurement, sales, logistics, land bank management. Now, the holding farms 88,000 hectares in Vinnitsa, Dnepropetrovsk, Kiev, Kirovograd, Nikolaev and Chernihiv regions.

The company grows wheat, soy, corn and sunflower. It owns six elevators with the capacity of over 250,000 tons of wheat. Three dairy farms of TAS Agro have 5,500 heads of cattle including 2,500 of milking cows. The holding produces superior class milk only on its farms. In 2015, it started to export grain to South East Asia markets. TAS Agro plans to increase the land bank to 150,000 hectares. As a part of this strategy, the holding bought Obrіy Ltd with 12,000 ha of land in the Chernihiv region and the elevator complex as well as a number of small farms in the Vinnytsya and Kyiv regions last year.

№29 Мriya agroholding

Owner: Wayluku Ventures Limited

Revenues: $68 mln**

Segment: crop growing, livestock breeding

№30 Аpgk dneprovskaya

Owner: «Wespone Trading Limited»

Revenues: $63.2 mln*

Segment: poultry, crop growing, processing of industrial crops

№31 Аgrospetsservis

Owner:  Segrey Tarasov

Revenues: $62.8 mln*

Segment: crop growing

Agrospetsservis specializes in the production of wheat and oilseeds and sugar beet. The group has a sugar plant, elevator and a private trading company. Agrospetsservis has got a compact land bank. Almost all 41,000 hectares are located in the Kirovograd region. Sergey Tarasov, the company owner, set up its business not typically for Ukrainian agrarians: he neither chased after land hectares nor took credits. “I just felt the situation and reduced the amount of borrowing,” explains Mr.Tarasov. He used borrowed funds for replenishment of the working capital. That is why his company did not grow as fast as other agricultural holdings.

“Sergei was always thinking of who and how will operate it and how he will be able to control these people,” says Yakov Gribov, the owner of Nemiroff and a friend and partner of Mr.Tarasov. Of course, Agrospetsservis owner could not refuse from credits completely. Now the holding debts reach $ 6.6 million. Debt to EBITDA is 20 to 80. In 2015, due to the decline in profitability of sugar business, Mr.Tarasov was forced to cut planting of sugar beet, but he is not going to refuse completely from production of sugar.

№32 Pan Kurchak

Owner: Sergey Gorlach

Revenues: $59.7 mln*

Segment: poultry, pig breeding, meat processing

The company is a leader in the production of chicken meat in the Western Ukraine. Last year, due to the construction of a new poultry slaughter and processing department in Novovolynsk, it was able to increase its poultry production by 75%. Pan Kurchak exports its products, and in 2015 the holding exported four times more chicken than in 2014. With a new KatKut brand of halal products the company entered the Asian and Middle Eastern markets. The supplies to Moldova and Kyrgyzstan increased by one third, and by 25 times to Armenia. The group is also engaged in growing of pigs. The holding sells fresh meat and meat products under Pan Kurchak, Volyn Product, Volyn and Ukrainian Pork trademarks in Meat Point retail stores and Smarti supermarket in nine regions of Ukraine. The land dank of the company has over 16,000 hectares. It grows grains and oilseeds on its fields.

№33 Rostok – Holding

Owner: Victor Kupavtsev, Victor Kiyanovsky

Revenues: $52.2 mln

Segment: crop growing, livestock breeding, grain storage

Last year the gross harvest of grains and oilseeds of Rostok Holding Group reached 265,000 tons. The company grows corn and sunflowers. These crops are exported to the Middle East, South Africa, Asia, Europe and the CIS. In addition to 60,000 hectares of land, the Group also owns two dairy plants, eight cattle farms and three elevator complexes with storage capacity about 100,000 tons. Its cattle herd is 2,700 heads. In 2015, the investment in the group development amounted to $ 4 million. Most of the money was spent on the purchase of the agricultural machinery.

The company also launched a new seed plant. Victor Kupavtsev, the owner, plans to increase its land bank to 100,000 hectares. “But we will stop at this point, otherwise the business efficiency will reduce”, says the agrarian. Rostok Holding will also continue promoting its trade and logistics. The holding is able to sell up to 1.5 million tons of grain to foreign markets.

№34 Vladimir-Volynskaya poultry

Owner: Аleksey Kovalenko and Aleksandra Rud

Revenues: $49.7 mln

Segment: poultry

Over the past two years the company increased its production by 40% and joined top three Ukrainian producers of poultry meat. Alexey Kovalenko, the owner of the factory, relies on eco-friendly technologies. Its enterprise grows poultry without antibiotics using natural plant food. Such meat costs 20-25% more than the meat from the other market leaders, Mironovsky Kheboproduct and Agromars Complex. In the near future, Vladimir Volynskaya poultry farm plans to increase its production capacity by 20-50%. This would be enough to take approximately 10-15% of the Ukrainian poultry market in terms of money and remain one of the top three producers.

Now, most of the company’s products are sold under Chebaturochka Selyanska Kurochka brand name in the domestic market. In 2015, the company actively began to explore new markets, particularly in Africa and the Middle East. The company obtained the Halal Certificate to make deliveries to Muslim countries. Mr.Kovalenko also plans to increase the land bank to 50,000 hectares.

№35 Chistaya Kriniza

Owner: Yuriy Lebedin

Revenues: $47.6 mln*

Segment: crop growing

№36 Niva Pereyaslavschiny

Owner: Aleksander Mostipan

Revenues: $41.7mln

Segment: pig breeding, crop growing

Being one of the largest pork producers in Ukraine, Niva Pereyaslavschiny owns feed milling plant, slaughterhouse and meat processing plant, which produces products under Pyatachok brand name. The holding sheds are located 90 km from Kiev. Aleksander Mostipan, the holding owner, was one of the first in Ukraine who realized that the main thing in pig production is efficiency, rather than the size of livestock. His company is one of top five pork producers in Ukraine. Now, the production capacity of Niva Pereyaslavschiny is about 200,000 commercial pigs annually.

The company is thoroughly structured: it has its own feed, its own grain for its production. Today the company’s land bank is about 23 hectares. In 2015, Mr. Mostipan invested about $ 11.2 million in the holding development. According to the businessman’s calculations, its own construction company allowed reduction of expenses on hog houses construction by 2.5 times. Each new object costs approximately $ 12 million to Mr.Mostipan.

№37 Danosha

Owner: AxzonA/S(Denmark)

Revenues: $40 mln*

Segment: pig breeding

№38 Trigon Agri

Owner: Joakim Helenius

Revenues: $38.6 mln

Segment: crop growing

Trigon Agri Group specializes in crop farming and is engaged in agribusiness in Ukraine, Russia and Estonia. In Ukraine, the company farms 46,000 hectares of land in Kharkiv, Kirovohrad, and Mykolaiv Regions. Apart from the traditional wheat, corn, sunflower and rapeseed, in 2016 the Group plans to grow peas and flax plant.

Trigon Agri also has grain elevators with storage capacity of 322,000 tons and dairy farms. Because of the difficulties in the Russian market, the company plans to sell its assets in Rostov Region till August 2016. The holding expects to get approximately € 25 million from the transaction.

№39 HarvEast

Owner: Rinat Akhmetov, Vadim Novinskiy

Revenues: $37.6mln

Segment: crop growing, livestock breeding

№40 Grain Alliance (barishevskaya grain company)

Owner: BZK Grain Alliance AB (sweden)

Revenues: $36.7 mln

Segment: crop growing, livestock breeding

Grains and oilseeds are key business positions of Grain Alliance. The holding leases 50,000 hectares of land. In recent years Alex Oronovis, the company owner, interested in growing niche crops, in particular non-GMO soybeans and pumpkin. In 2015, soybean yield on the company’s fields reached 3 tons per hectare due the usage of advanced technologies. In 2016, Grain Alliance plans to grow another crop, beans. The businessman exports the niche products to Japan. In the near future, he expects to begin deliveries to Austria and France.

The company also decided to learn the new area being production and calibration of soybean seeds. Grain Alliance will be growing soybean seeds together with two Canadian companies. Last year investments in Grain Alliance development amounted to over UAH 123 million. One third of these funds was spent on the purchase and renewal of equipment, and about 40% on expansion of the elevator capacity.

№41 Vinnitskaya Agroindustrial group

Owner: Vladimir Barzes

Revenues: $30.2 mln

Segment: crop growing, grain trading.

Vinnitskayaa Agroindustrial group is one of the most efficient agricultural holdings in Ukraine. It specializes in growing high-margin crops: sunflower, corn, soybean and barley, as well as in the storage of grain and wholesale trade. The company can impress with its compact land bank, almost all of its 50,000 hectares are located in Vinnitsa Region. In the near future, Vladimir Barzes, the company owner, is going to increase the sown area by 10,000 ha.

The group has launched a satellite monitoring and established 24-hour dispatching service for effective development of its fields. No-till technology of minimum tillage without further cultivation helps the company to reduce its expenses. Moreover, it has its own biofermentation shop to produce organic fertilizer. In 2015, the company built a grain elevator with the capacity of 100,000 tons. The investments in the project amounted to Euros 20 million. The total capacity of four granaries of the holding is 250,000 tons of grain.

№42 Agroliga

Owner: Aleksandr Berdnik, Irina Poplavskaya

Revenues: $25 mln

Segment: grain and oilseed growing

№43 Zelenaya Dolina

Owner: Stanislav Voytovich

Revenues: $22.6 mln

Segment: crop growing, livestock breeding, sugarproduction

Zelenaya Dolina is one of six companies included in Terra Food Group by Stanislav Voytovich. Zelenaya Dolina farms 30,000 ha in Vinnitsa Region. The agro-complex also includes breeding factory, grain reception site and the grain elevator with the storage capacity of 32,000 tons. Zelenaya Dolina specializes in the cultivation and processing of sugar beet and sugar production. Its sugar factory can produce 360 tons of sugar per day.

Zelenaya Dolina is also involved in animal breeding. Now the company’s farm has about 5,000 heads of cattle. Milk is delivered to the factories of Terra Food Group which covers up to 7% of its demand for raw materials. According to Voytovich, he is not going to expand Zelenaya Dolina. All resources are directed to the development of Terra Food which produces dairy products. Recently, he has invested in the construction of dairy plant in Turkey.

№44 Slobozhanskiy Agrocombinat

Owner: Aleksandr Gudzima, Aleksandr Aranchiy, Ruslan Sekareyv, Yuriy Strishniy

Revenues: $14.3 mln*

Segment: pig breeding

№45 KSG Agro

Owner: Sergey Kasyanov

Revenues: $13.8 mln*

Segment: crop growing, livestock breeding

KSG Agro holding is engaged in the restructuring of credit debt for the last two years. In 2015, the company managed to reduce its debts from $ 100 million to $ 42 million. In particular, KSG Agro gave its flour mills to Ukrsotsbank to repay the loan. Now, the holding leases them from the creditor on favorable conditions. Previously, the company worked mainly in the domestic market, now it is actively developing its export. Last year, KSG Agro started supplying flour in China. Sergey Kasyanov, its owner, plans to supply pork to foreign markets. That’s why he plans to build the second part of the pig farm. After the loss of 30,000 hectares in the Crimea, the land bank of the agricultural holding makes around 64,000 ha. The businessman is not going expand its business in the near future.

Written by: Оlga Druzheruchenko, Dariya Isakova

07 квітня 2016 10:57

Rating the wealthiest Ukrainian agrarians

Those people who have made money in the agricultural sector are still hostages to stereotypes. In any case, such a situation is observed in Ukraine. However much it may sound offending, the unsophisticated public often takes the liberty to call them an unpleasant word “rednecks”. When it comes to owners of agricultural enterprises, most people imagine hard workers wearing checked shirts, with weathered faces and black soil under their nails.

None of the people on the list made by us complies with this image. Moreover, almost none of them have started their way to the big capital with farming. The participants of our ranking are investors who noticed the potential of the industry in due time and managed to properly formulate and implement the development and growth strategy in the market, which scarcely attracted other entrepreneurs. Why did we call those people agrarians? This is not a tribute to the habits and traditions. We use the concept of Agri in its broadest sense – by analogy with the way the sector is viewed by financiers. It is not only agriculture and animal breeding, but also processing, exporting, manufacturing of confectionery and dairy products, etc. In fairness, we would like to note that our ranking includes mainly the owners of large vertically integrated holdings, whose business chain presupposes the presence of all the elements – from producing commodities to exporting value‑added products.

Our ranking will surprise you. It will not feature some representatives on the usual lists of the richest Ukrainians. Instead, you will discover a lot of new names. Why did it happen so? When making our ranking, we took into account only agricultural assets of our heroes. Business interests of many of them are not limited to agriculture and the food industry. They own the banks, construction companies, gamble on the stock exchange, being the minority shareholders of large international corporations. We focused on the part of their capital provided by agribusiness. We also did not include private property of our participants into the total amount. If the company of our participant is public, we calculated its value considering capitalization and the exchange rates as of 10/12/2015. Then we calculated the participant’s capital through his stake in the company.

When calculating the value of non‑public companies, we used the information on their sales and production volumes, revenues and debts. We estimated a company’s value, focusing on the current trading multiples presented by London and Warsaw Stock Exchanges. Not only citizens of Ukraine are listed in our ranking. For example, you will get acquainted with George Rohr, the owner of the American NCH Group of Investment Funds. One of the largest agricultural holdings Agroprosperis was built with his money in Ukraine. In total, our ranking includes six foreigners. We consider the part of their capital earned in the Ukrainian agribusiness.

The total capital of the richest landowners on the list is $5.5 billion. Is it much? Frankly speaking, it is hardly anything compared to the assets of agro‑industrial giants at a global scale. But it is quite enough to dismantle the stereotypes tainting the image.

№1 Yuri Kosyuk

$889.5 million

Company: Myronivsky Hliboproduct

Segment: Poultry production

Yuri Kosiuk does not wait for favorable moments to come for the development of his business development – he got used to create favorable conditions for his business himself. For example, in the late 1990s he founded an innovative market in Ukraine – he began selling chilled chicken. In due course, this decision has helped Kosyuk become a multimillionaire and the most successful agricultural businessman in Ukraine. His MHP controls more than half of the chicken market and is among Ukraine’s top five largest agricultural holdings. «Those who really want to achieve a result and do not lose heart, succeed: investments are coming; business is growing», says Kosyuk. While others are freezing their projects, Kosyuk is investing in the construction of new enterprises. In October 2015, MHP commissioned an oil extraction plant with a processing capacity of 1,000 tons of soybeans per day.
The first liquid fertilizer manufacturing plant in the Cherkassy Region is scheduled to be launched in December 2015. Investments in this enterprise reached 10 million hryvnias. Kosiuk is not going to stop. A seed plant worth 5 million euro is coming up next

Top 5 facts about the company:

  1. MHP produces about 60% of all Ukrainian poultry and controls 13.5% of the meat processing segment.
  2. It handles 360,000 hectares of land — it is the fourth largest land bank in the country.
  3. It exports meat to 50 countries.
  4. It has actively used meat import quotas specified by the EU. During the first nine months of 2015, the company sent 19,700 tones of poultry to the EU market.
  5. It practices the personnel assessment using a special methodology. Last year, about 1000 employees found themselves in the red zone — this is the price of effectiveness.

№ 2 Andrey Verevsky

$790 million

Company: Kernel

Segment: Sunflower oil

Andrey Verevsky is not and has never been a landowner. He is an experienced investor who knows better than many of his colleagues in the market what is the price of high‑quality M&A transaction, and most importantly – how to enter into such transactions. Investment bankers, whom Verevsky works with, note that this is a case when they learn from the client and not vice versa. Verevsky’s Kernel Group is the largest producer and exporter of Ukrainian sunflower oil, sunflower seeds and grain. The holding has been created by way of numerous takeovers conducted by Verevsky since the beginning of the 2000s. Directly or indirectly, they are run by the company now – at the time when investment activity of many market participants reduced to zero.

Verevsky’s largest transaction was the purchase of his main competitor — Allseeds in 2010. This acquisition allowed the group to double its processing capacity and become a market leader at the time. Organic growth is also familiar to Verevsky, as he is investing in the development of his export. Over the past year, Kernel’s port transshipment facilities grew by 23%, to $2.4 billion. There are the things to do — the company’s export orientation allows it to stay afloat in crisis. In 2014, Kernel’s revenues increased by 14.4% – to $2.4 billion.
Verevsky’s investment activity is not limited to Ukrainian agricultural

Top 5 facts about the company:

  1. Kernel produces one third of sunflower oil in Ukraine and is the leader in this segment.
  2. It rents 390,000 hectares of land and is one of Ukraine’s largest agricultural holdings.
  3. For several years, it has been included in WIG 20 Ranking – the list of companies with the highest capitalization on WSE. From time to time, Kernel becomes the most expensive agricultural company in Europe.
  4. It has actively used meat import quotas specified by the EU. During the first nine months of 2015, the company sent 19,700 tones of poultry to the EU market.
  5. Verevsky’s holding almost became a takeover target once – Asia’s large commodity trader Noble Group took interest in Kernel in 2010.

№3 Petro Poroshenko

$594,3 million

Company: Roshen and Ukrprominvest‑Agro

Segment: Confectionery and crop farming

President Petro Poroshenko has not managed to sell his business so far. It is not easy to find a buyer for Roshen — Ukraine’s largest confectionery company. Due to the difficult economic situation in the country and the military conflict in Eastern Ukraine, Ukrainian assets are strongly undervalued. Investment bankers estimate Roshen at $3 billion.

Poroshenko’s Ukrprominvest‑Agro Holding specializes in the cultivation of sugar beet, wheat, soybean, corn and sunflower. Its land bank is 122,000 hectares. Company’s lands are located in the Zhytomyr, Vinnytsia, Cherkassy, Dnipropetrovsk, Poltava and Kirovohrad Regions. One of the main business areas of Poroshenko’s agricultural holding is the cultivation of sugar beet and sugar production. In its early years, the company expected that its plants will provide Roshen Confectionery Corporation with sugar sand. But now Ukrprominvest‑Agro sugar enterprises sell sugar to other purchasers, and only 15% to Roshen. The holding has also got a mill complex and elevators. Cattle stock has reached 5,200 bearings. Ukrprominvest‑Agro is also engaged in pig production, but not large‑scale one — a total of 21,000 pigs per year

Top 5 facts about the company:

  1. Roshen Corporation is an uncontestable leader in the Ukrainian confectionery market.
  2. Gaysin sugar plant is the only one in Ukraine to run on coal, not on the expensive gas.
  3. The two holding’s sugar plants (Gaysin and Kryzhopol) control 11% of total sugar sand production in Ukraine.
  4. Ukrprominvest‑Agro is among Ukraine’s five largest manufacturers and exporters of flour.
  5. Gaysinskiy plant filled 50% of the EU sugar supply quota. In 2014, it exported over 10,000 tons of sugar to the EU.

№4 Aleksey Vadatursky

$538,9 million

Company: Nibulon

Segment: Crop farming

Over the past few years, Aleksey Vadatursky has experienced a lot of upheavals – from attempts of raider seizure of his company to the deprivation of quotas on grain exports. However, Nibulon’s founder was able to stand up for his business. Vadatursky is still one of the largest Ukrainian grain traders. He continues to build his own fleet.
Nibulon’s land bank exceeds 81,000 hectares. The company grows mainly corn, sunflowers and soybeans on its lands.

Vadatursky is lucky — none of his enterprises were affected by the conflict in Eastern Ukraine. Nevertheless, the holding suffered a loss of 1.95 billion hryvnias at the end of 2014. It is all about the revaluation of assets in connection with hryvnia devaluation. Grain exports are Nibulon’s main source of revenue. Last year, he sent more than 4.2 million tons of grains and oilseeds abroad. Since 2010, Nibulon has been receiving loans from EBRD. In late August, the EBRD announced organizing a syndicated loan for the company in the amount of $130 million for the development of export sales. Financial  institutions trust Vadatursky because the businessman has an impeccable credit history

Top 5 facts about the company:

  1. Nibulon is the leading grain exporter. It has about 11% share of total Ukrainian grain exports.
  2. It sells grain to 30 countries including Egypt, Spain and Saudi Arabia.
  3. Nibulon has implemented the Ukrainian rivers dredging projects to improve navigation. In October 2015, the Southern Bug dredging project worth 100 million hryvnias was launched.
  4. In 2014, the company’s cargo fleet transported 620,000 tons of agricultural products.
  5. In 2015, Nibulon was ranked among the top 500 largest companies in Central and Eastern Europe by Deloitte.

№5 Oleg Bakhmatyuk

446,2 million

Company: UkrLandFarming

Segment: Egg production and crop farming

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Over the past two years, Oleg Bakhmatyuk’s agribusiness has been on a burning platform. Although the businessman’s basic principle is to never stop, the development of his agricultural holding is suspended today. “We had a three‑year strategic development plan. We have refined it to the greatest extent possible”, says the businessman. Bakhmatyuk is untying credit knots.

The country’s largest landowner’s debts are significant – about $1.3 billion. In October, the UkrLandFarming owner managed to persuade the creditors of his Avangard egg holding to restructure Eurobonds worth $200 million. But Bakhmatyuk have recently had other worries. Last year, his company’s consolidated revenue fell by 37%, to $419.618 million, and the loss amounted to nearly $27 million. Due to the hostilities in Donbas, the businessman had to close four poultry farms in the Donetsk and Lugansk Regions. Moreover, due to the annexation of Crimea by Russia, he lost his Yuzhnaya‑Holding poultry farm.

Top 4 facts about the company:

  1. Avangard Holding’s share in the industrial egg market in Ukraine is 49%. It also controls 91% of the dried egg product market.
  2. UkrLandFarming Holding controls the largest land bank in Ukraine — 654,000 hectares.
  3. During the year, due to the loss of factories in Donbas and Crimea, chicken stock of Avangard enterprises was reduced by 48% — to 16 million.
  4. During the year Avangard’s stock fell by 88.56% on the London Stock Exchange. This is the greatest decline among all publicly quoted agricultural companies in Ukraine.

№6 George Rohr

$343,4 million

Company: Agroprosperis

Segment: Grain growing

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George Rohr, the founder of NCH Capital, a group of direct investment funds, is one of the most reserved businessmen in the world and one of the most far‑seeing ones.
An American with Ukrainian roots, Rohr senses very well where the wind blows and invests in the businesses that have the best result. NCH investments cover many industries: from retail and real estate to Internet services.
The agrarian business is one of the most successful Rohr’s investments. NCH invests in agricultural sectors of Ukraine, Moldova, Bulgaria, Kazakhstan, Romania and Russia.

The total area of the land bank controlled by the group of companies is 820,000 hectares. About 450,000 hectares out of these are concentrated in Ukraine. The local Agroprosperis holding owned by George Rohr is among Ukraine’s five largest land-owning firms. Six companies incorporated in Agroprosperis specialize in growing grains and oilseeds.

№ 7 Boris Kolesnikov

$175.2 million

Company: Kyiv‑Konti, APK‑Invest

Segment: Confectioneries, pig breeding

In his youth Boris Kolesnikov used to work as a salesman and a carpenter. He earned his first capital in early 1990s through the exchange of a large sugar batch for cookies. Now Kolesnikov’s Kyiv‑Konti is the second largest producer of confectionery products with only Petro Poroshenko’s Roshen Corporation ahead. In 2013 Kolesnikov intended to sell his confectionary business. According to the entrepreneur, the company was valued $1.2 billion at that time. But last April Kolesnikov changed his mind stating that he would stay in the business for at least ten years.

“The company’s future is great”, businessman said. Kolesnikov wanted to withdraw from the confectionery business in order to focus fully on pig breeding. His APK‑Invest controls 18% of the Ukrainian pork market and is the market leader. Kolesnikov is Rinat Akhmetov’s childhood playmate and a vice president of Ukrainian’s wealthiest Shakhtar football club.

№ 8 Aleksandr Petrov

$129 million

Company: Industrial Milk Company

Segments: Milk production, crop farming

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The founder, main shareholder and chairman of the supervisory board of Industrial Milk Company (IMK), Aleksandr Petrov abruptly changed his life after the army service. A military doctor became a businessman. In 1998, he purchased Kremenchug milk processing plant (the Poltava Region). In 2007, Petrov sold his Cheese Club Company to Russian Renaissance Group.

The history of IMK began in 2010. The holding is engaged in milk production and cultivation of grains and oilseeds. For this purpose, it rents approximately 137,000 hectares of land. Since 2011, a 24% stake in IMK has been traded on the Warsaw Stock Exchange.

Last year, IMK revenues increased by 20.5%, to $138.27 million; its EBITDA grew by 16%, to $57.4 million. Focusing on export has helped the company to achieve these financial results. 85% of 705,000 tons of grain went to foreign markets.

№ 9 Sergey and Alexander Buriak

$121.6 million

Company: Svarog West Group

Segment: Crop farming

Svarog’s main businesses are crop farming, horticulture, as well as dairy and meat cattle breeding. The holding farms 80,000 hectares and made a stake on natural soybean without genetic modification.
Buriak brothers are confident that their products will be in demand — one ton of natural soybean is $120 more expensive than the modified ones. In order to increase the soybean seeds, Svarog plans to increase its land bank to 100,000 or 120,000 hectares in the nearest future.

The company has been a Ukrainian leader in grain yield for four years now. For example, the company’s yield of winter crops is twice as high compared to other agricultural holdings. In addition, the company is also the most efficient crop farming company in Ukraine — its EBITDA per hectare is $700.

№ 10 Victor Ivanchik and Valery Korotkov

$118.6 million

Company: Astarta‑Kiev (Ivanchik 37%; Korotkov 25.99%)

Segment: Sugar and milk production, grain growing

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Both businessmen have got MBA, but started as regular engineers. Victor Ivanchik has 37.8% of Astarta shares and Valery Korotkov ‑ 25.99%. During 12 years of partnership they bought nine sugar mills and collected 245,000 hectares of land bank. A year ago, the company launched Ukraine’s largest soybean processing plant with the capacity of 220,000 tons per year. In 2014, Astarta’s EBITDA increased by 1.85 times up to Euro 119.57 million.

During the last year, the holding managed to get funding of $35 million from IFC, Euro 20 million from EBRD and Euro 50 million the European Investment Bank. In October the company received a permission to export corn to China. In July it delivered the first batch of heifers to Kazakhstan.

№ 11 Eugene and Maryna Sigal

$109.5 million

Company: Agromars (50% each)

Segment: Poultry breeding

Eugene Sigal entered the chicken market when he built Gavrilovka Poultry Complex in the village of Gavrilovka of the Kyiv Region, but after a couple of years his Agromars gave the pas to Yuri Kosiuk’s Myronivsky Hliboproduct. “Eugene was passive and didn’t buy anything. Many factories I’ve bought e were first offered to him”, said Kosyuk in one of his interviews. The basic principle of Sigal’s business is: “If we earn then we develop, we do not earn then we do not develop”. He now controls about 15% of the poultry meat market. Agromars has always been a family company.

Once in the late 1990s Sigal entered politics, his wife Maryna took lead of the business.
Agromars was one of the first companies that received a permit to supply its products to the EU, but still no shipments were made. Ukrainian products cannot compete with European ones due to high import duties.

№ 12 Boris Belikov and Vitali Veresenko

$103.9 million

Company: Ovostar (50% per each partner)

Segment: Poultry breeding

Stil 2008 Veresenko and Belikov worked separately — each had his own company. The businessmen were pushed to merge their assets by their common rival — the founder of the Avangard egg holding Oleg Bakhmatyuk. His company quickly gained momentum, and it was possible to stem the onslaught only by joint efforts.

Today, Ovostar Union is the second (after Avangard) largest producer of eggs and egg products, as it controls 8% of Ukrainian market. The company’s share in the production of liquid egg products reached 90%. Since June 2011 the group’s shares are traded on the Warsaw Stock Exchange. Now the egg holding capitalization is $135 million. Last year, the group’s turnover reached almost $75 million and EBITDA — $29 million. The partners say that there are still no conflicts between them at all.

$100.3 million

Company: T.B.Fruit

Segment: Juice and concentrate production

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It took Barschovsky just eight years to set up an apple empire. In 2003, he invested the first $200,000 in equipment for the production of apple concentrate, and in 2011, the entrepreneur merged all his businesses — concentrate production plants, cargo transportation and gardens in Ukraine, Poland and Moldova — into T.B.Fruit group of companies.

In Ukraine, Barschovsky owns six juice concentrate plants located in the Kharkiv, Khmelnytsky, Lviv and Vinnitsa regions. The businessman has already entered US and Canada markets, and the Middle East countries and offered his products there. Directly squeezed juices are sold under the TM Galicia in the domestic and EU markets. T.B.Fruit actively works on widening its product range: this year it started the production of concentrate from beets and carrots. Barschovsky likes travelling, soccer and skiing.

№ 14 Vsevolod Kozhemiako

$76.3 million

Company: Agrotrade

Segment: Growing and export of grain

Philologist by education, Vsevolod Kozhemiako needed only four years to understand what business area would be profitable in Ukraine in the coming years. In 1998 he founded East‑Ukrainian Agricultural and Industrial Company which sold grain and sugar products, as well as supplied fuel to agricultural enterprises. During 2014/15 season, his Agrotrade company was ranked 10th in terms of export, with the sales of 0.8 million tons of grain.

The company’s revenue in 2014 exceeded $310 million, and EBITDA — $13.5 million. Agrotrade owns 17 agricultural enterprises in the Chernihiv, Sumy, Dnipropetrovsk, Kharkiv and Poltava regions, 11 elevators with total storage capacity of 550,000 tons of grain, and a seed plant. The main investment areas in the past year were the granaries. The company invested $5.2 million in the construction of the second phase of the Chernihiv elevator to store 22.2 thousand tons of grain.

$70 million

Company: Terra Food

Segment: Production of dairy products

Президент компании С.А.Войтович

Terra Food Group includes six companies: four milk processing factories, meat‑processing plant and Zelena Dolyna agricultural farm with a land bank of 28,000 hectares. The group founder, Stanislav Voitovich remembers the metrics of any of them. One of the businessman’s features is a tough expressive manner of communication. But it gives excellent results.

“Expression is a means to find responsible and reliable managers,” he explains. Voitovich is sure that a good manager should always have his own opinion and charisma. Over the past five years, his company hit top five largest players in Ukraine’s dairy market with a share of more than 11% — thanks to his managers.

But Voitovich is not limited to the domestic market — Terra Food exports its products to more than three dozen countries. Voitovich is keen on history, as well as collecting works of Ukrainian artists and sculptors.

№ 16 Tatiana Zasukha

$69,3 million

Company: Svitanok Company

Segment: Grain growing, livestock breeding

Tatiana Zasukha has been working at the same enterprise — Shchors collective farm for many years, and never left it. She came there to work as a chief livestock expert.

In 2000, the collective farm was renamed Svitanok and became a private enterprise possessed by Zasukha. Three years ago, when she didn’t get into Verkhovna Rada of Ukraine (the Ukrainian Parliament), she started to grow the company’s assets very actively.

The business lady bought five farms in the Kiev and Zhitomir Regions.
As a result, the land bank of Svitanok grew to 20,000 hectares. Now the company specializes in growing grain and sugar beets, as well as the breeding of pigs and the cattle. The company has its own meat processing plant, a bakery shop and a shop for the production of pasta.

№ 17 Yuri Lebedin

$65 million

Company: Chysta Krynytsia

Segment: Crop farming

People like Yuri Lebedin are called ‘self‑made’. The entrepreneur has founded an agricultural holding in his native village Drabinovka. Now the company’s land bank is about 50,000 hectares. This agricultural season, Lebedin focuses on growing sunflower crops. The businessman increased its sowing by 30%. At the same time, the entrepreneur reduced corn sowing by 25% due to low global prices.

Lebedin sells his products to international traders. As a result of the national currency devaluation, holding’s revenues in local currency increased in the 2014‑2015 marketing year — they doubled to almost 1 billion hryvnias, and the holding’s EBIDTA reached $500 per hectare. Running his company without any loan funds has helped Lebedin to achieve high efficiency. However, last year the businessman made no investments in new equipment or land bank expansion because of constant dollar exchange rate fluctuations.

№18 Victor Ponomarchuk

$62 million

Company: ViOil

Segment: Sunflower oil production

This year Victor Ponomarchuk’s ViOil entered the list of the top three producers of sunflower oil — its market share reached 8%. In mid‑2000s ViOil closed the top ten list with the market share of 2–3%. Due to the absence of multi‑million foreign currency loans ViOil survived the 2008–2009 crisis safely and even launched two elevators and upgraded Vinnytsia plant. Ponomarchuk prefers to work for export and is in a constant search of new markets. He was the first to discover Chinese market for Ukraine.

The businessman is exporting to 50 countries. In 2014 ViOil became the fastest‑growing company on the market. For the 2013/14 marketing year its EBITDA grew by more than a half, to $53.86 million, and the revenue was up 40%, to $383.4 million. During the ongoing crisis Ponomarchuk is looking for growth opportunities again. In the coming year ViOil plans to increase the capacity of Vinnytsia plant by 33%.

№ 19 Alexander Mostipan

$60.4 million

Company: Niva Pereyaslavschiny

Segment: Pig breeding

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Alexander Mostipan, the deputy of the Kiev Regional Council, refused to go to these elections. Niva Pereyaslavschiny, his pig‑breeding company, attracted large loans from EBRD ($30 million) and IFC ($25 million). «These organizations do not cooperate with those who are engaged in both business and politics», explains Mostipan his decision.

The funds are needed for the development and refinancing of its medium‑term loans. In particular, by 2018 Mostipan plans to build four new pig breeding complexes with the capacity of 30,000 commodity pigs per year each. In three years the owner of Niva Pereyaslavschiny intends to become the largest pig breeder of the country with 600,000 livestock. Now Niva Pereyaslavschiny sells over 210,000 commodity pigs per year, and about 70,000 pigs are processed at its own enterprise in Pereyaslav‑Khmelnytsky that produces meat and sausage products under its own brand Pyatachok.

№ 20 Sergei Tarasov

$57 million

Company: Agrospetsservice

Segment: Crop farming

In his youth Tarasov worked as musician in restaurants. But in the 1090’s this profession ceased to bring money and Tarasov went into business. He had to master the basics of the new profession by self‑learning. He bought a lot of books and went to Cyprus with them, where he did not leave his hotel room for nearly a week busy with reading. But now his Agrospetsservice is one of the most efficient agricultural companies of the country. Last year its EBITDA per hectare was $520.

Agrospetsservice plants grain and oilseeds as well as sugar beets. The group has a sugar mill, an elevator and its own trading company. Tarasov exported almost all his products, so he received his revenues in foreign currency. The businessman plans to double his land bank and develop a new business area — pig breeding. Tarasov is going to invest 16 million euro in construction of a pig farm with the capacity of 5.25 thousand of breeding stock. But the agrarian remains a musician deep in his heart. He loves jazz music and often attends concerts.

№ 21 Alexander Kuzminsky

$54.5 million

Company: Globino

Segment: Pig breeding, meat processing

Alexander Kuzminsky earned his capital on the sale of meat and milk. Globino meat processing plant was created by him in the late 1990s. «We started with one ton of sausages per day», businessman says. Now Globino produces about 100 tons of meat products daily. For nearly two decades Kuzminsky built a vertically integrated complex with closed production cycle and sale of finished products.

All the capacities of the corporation are located in the Poltava Region. In 2014 Globino pig farm was the second largest pork producer, behind only Boris Kolesnikov’s APK‑Invest. Globino’s breeding stock reached almost 13,000 units (APK‑Invest — 21,000). Globino Corporation is now a Ukrainian leader in sausage production. Globino Group includes a meat processing plant, a butter making plant, a pig farm, a meat and dairy complex and a trading house. Kuzminsky is a fan of spiritual practices taught by business coach Marc Palchik.

№ 22 Viktor Kupavtsev and Viktor Kiyanovsky

$52.1 million

Company: Rostok‑Holding

Segment: Crop farming

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One of the founders of Rostok‑Holding Group, Viktor Kupavtsev adheres to the theory that every person has positive energy. In order to find yourself, it is necessary to use it in a right way. He has fulfilled himself in agriculture. His company has 60,000 hectares in the Chernigov and Sumy Regions.

“I was told that the sunflower would not grow there, but we collect thirty centners of it per hectare today”, says Kupavtsev. By 2020, Kupavtsev is going to rent 40,000 hectares more. Due to a crop rotation technology, yields on the company’s fields are 1.5 times higher than the Ukrainian average. Rostok‑Holding bets on the cultivation of wheat, corn, sunflower and soybean. It exports these agricultural crops to the Middle East, South Africa, Asia, Europe and the CIS.

№ 23 Oleg Vasilyev and Larisa Ostapenko

$43.9 million

Company: Lustdorf (50% each)

Segment: Milk processing

Lustdorf works only with very special quality milk. If the raw material is of lower quality than required by Lostdorf’s quality assurance specialists its lines just stop. Farm milk is delivered to the company as fast as within two hours. The company widely applies innovative technologies of raw material processing, such as ultra-pasteurization and steaming. In both cases milk is immediately heated to 1,400 degrees Celsius/ Then it is quickly cooled down to 200 degrees.

Lustdorf bet on the Ukrainian market, where it sells 95% of its products. The rest is exported to other countries. Moldova, Transnistria, Georgia, Azerbaijan and Belarus are among Lustdof’s clients.

Last year, the company changed the packaging design — its checkered pattern was changed by Ukrainian national embroidery.

№ 24 Fedor Shpig and Aleksandr Derkach

$40.6 million

Company: Milk Alliance (Shpig 25%; Derkach 15%)

Segment: Milk processing

In 2014, after the Russian market was closed, Milk Alliance reduced its production by 20%. The company manages to compensate losses caused bye cheese sales slump, at least partially, by producing butter and milk powder. Now the holding company actively promotes Yagotinske for Children baby milk products in Ukraine (taking into account that the main competitor, Danone Company, suspended the production of children’s dairy products Teyma).

Milk Alliance is looking for new markets; it is waiting for approval from the European Commission to supply its products to the EU. The company has also developed a special product for the Chinese market — highly demineralized whey D‑90 for baby food production. However, it is necessary to sign an interstate agreement to begin deliveries to China.

№ 25 Alexey Kovalenko and Alexandra Rud

$38 million

Company: Vladimir‑Volynskay poultry farm (Kovakenko 49%; Rud 51%)

Segment: Poultry keeping

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During five years Alexey Kovalenko and Alexandra Rud invested a quarter of a billion hryvnias in the production lines. This nearly doubled the output of chicken meat production, to 55,000 tons per year. As a result, Vladimir‑Volynskaya poultry farm became the third largest producer of poultry in Ukraine. They are not going to compete with the industry leaders, Yuri Kosiuk’s Myronivsky Hliboproduct and Agromars Complex of Eugene Sigal (its share is about 15%).

The company is going to develop an organic meat niche: it will completely stop using antibiotics and is going to use only eco‑friendly feed. The the company also processes 3,000 hectares of land, and its land bank will increase to 40–50,000 hectares in the future. Last year the company’s revenue amounted to 832 million hryvnias and EBITDA was 145 million hryvnias.

№ 26 Vladimir Bartsos

$32.4 million

Company: Vinnytsia Agro‑Industrial Company

Segment: Crop farming

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One of Vinnytsia Agro‑Industrial Company’s advantages is a compact land bank — almost all of its crops are located in the Vinnytsia Region. In just six years, it grew from 2,000 to 50,000 hectares. Vladimir Bartsos bet on high‑margin crops — corn, barley, sunflower and soybean. Last year, the company’s EBITDA was $347 per hectare. The holding has managed to reduce production costs due to its own production of organic fertilizers — the biofermentation facility was built in the barn of a former poultry farm.

The company also uses the No‑till minimum tillage technology. During 2014‑2015 marketing year, its revenues increased 40%, to 800 million hryvnias. This season, Bartsos hopes to increase turnover up to 1.1‑1.2 billion hryvnias. He also plans to expand its land bank by 10,000 hectares and build his own seed plant with a capacity of 10 tons per hour.

№ 27 Joakim Helenius

$31.6 million 

Company: Trigon Agri

Segment: Grain and oilseeds growing

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The Estonian investor founded Trigon Agri agricultural holding in 2006 and registered it in Denmark. Today, the company processes 47,000 hectares in Kharkiv, Mykolayiv and Kirovograd regions. Trigon Agri specializes in the production of grain and oilseeds, and also owns five elevators with a total storage capacity of 322,000 tons. This year, the company expects to collect 167,000 tones of agricultural crops in Ukraine. Trigon Agri develops dairy farming in Russia and Estonia.

Early in 2015, the agricultural holding had to ask the holders of its bonds for a two‑year extension of their maturity, until August 31, 2017. At the same time the company management agreed to provide a guarantee for securities in the form of shares in its subsidiaries, as well as to sell non‑core assets in Estonia and Russia. In the first half of 2015, the net debt amounted to 64.5 million euro. Since December 2010, Trigon Agri shares have been traded on the main market of NASDAQ OMX Stock Exchange in Stockholm.

№ 28 Peter Rud

$30.6 million

Company: Rud

Segment: Milk processing, semi‑finished goods

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After becoming a chief executive officer of Zhitomir Butter‑Making Plant back in 1992, Peter Rud gradually made the enterprise private and organized a family company. The Supervisory Board is chaired by his daughter, Oksana. And his son‑in‑law, Sergey Vivsyk, is the company’s chief executive officer.

Despite the loss of the Russian market due to the Russian government’s «counter-sanctions», as well as market loss in Donbass and Crimea, the company finished 2014 with good result: its net profit amounted to 71.6 million hryvnias.

This year Peter Rud will continue to launch new food products, such as organic and fruit‑berry ice cream. It also plans to increase its exports to other countries. Rud’s plant produces dairy products, butter, powered skimmed milk, butter milk, sour cream, yogurt and cheese, and frozen fruits and vegetables.

№ 29 Alla Kovalenko

$28.2 million

Company: Biscuit‑Chocolate

Segment: Confectioneries

Alla Kovalenko, the president of Biscuit‑Chocolate, has been running the company for almost three decades now. But she did not become a pastry chef immediately — her first employee was Kharkiv Fat Processing Plant. Kovalenko likes sweets from the childhood, so when she was asked to take charge of Kharkiv Confectionery Factory, she agreed without hesitation. She explains her success by the fact that she, as a chess player, can figure out everything a few steps forward. «For me, the two Kharkiv confectionery companies are not just business, they are my life’s work», says Kovalenko.

For many years Biscuit‑Chocolate holds the fourth place at the Ukrainian confectionery market. Its last year’s earnings were around 1 billion hryvnias. The company supplies about 40% of its products to foreign customers. In particular, its confectioneries exports to the EU increased by 128%.

№ 30 Rafael Goroyan

$26 million

Company: Prometheus

Segment: Grain trading

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Rafael Goroyan admits that he likes trading most of all. «I can do it and I am fond of it. For almost 20 years I do trust this business to any one», says the businessman. His company Prometheus is one of top twenty exporters of Ukrainian grain and has been increasing its sales during the last three years. In the 2014–2015 marketing year, it sold 369,000 tones of grains and oilseeds.

The businessman does not like the idea of vertical integration. He believes that each company should have its own specialization, like in the EU. One of Goroyan’s principles is not to take any loans. This business strategy pays off — Prometheus’ net profit margin is higher than that of vertically integrated holdings that grow by borrowings. In the past marketing year was 8.6%, and the industry‑average rate was 5%. Prometheus does not pay any interest on loans. The company’s revenue exceeded $95 million.

№ 31 Sergey Kostyuchko

$25 million

Company: Agro‑Express‑Service

Segment: Crop farming

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Being a graduate from Lutsk Medical School and the KGB Higher School of the USSR, Sergey Kostyuchko came to agribusiness 15 years ago. Initially, his Agro‑Express‑Service rented only 3,500 hectares of land. Now the holding is handling 50,000 hectares in Rivne and Ternopil Regions. Agro‑Express‑Service grows corn, rape and sugar beets, as well as is engaged in animal husbandry (the company has got about 3,000 head of cattle).

In 2010, Kostyuchko graduated from Lviv National Agrarian University with a degree in agronomy. Yields from his fields are among the highest in the region now: Agro‑Express‑Service collects more than 50 centners of winter wheat per hectare, and 450 centners of sugar beet per hectare. “Success does not come without efforts. Its components are a modern technology, high production process organization and, of course, commitment and responsibility”, says Kostyuchko.

№ 32 Viktor Zavorotniy

$24.6 million

Company: Agro‑Oven

Segment: Meat production and crop farming

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The first 6,500 hectares of land were rented by Viktor Zavorotniy in Dnipropetrovsk Region in 1996. Today, his Agro‑Oven handles 16,000 hectares, 600‑700 hectares of which are planted with potatoes. The company has got its own crop processing and storage plant with a capacity of 20,500 tons per year. Agro‑Oven is among the five largest broiler meat producers, occupying the market share of more than 5%. The company has got its own incubator, two meat‑processing plants and two feed mills.

This year it has received the Halal certificate, which will allow it to start exporting to such countries as Egypt, Kuwait and Jordan. Agro‑Oven is also engaged in pork and beef production. The corporation sells its products under Dlya Svoyikh, Zolotko and Svoya Kartoplya brand names. It has got its own trading network — Dom Myasa.

№ 33 Viktor Veretennikov

$22.9 million

Company: Pridneprovsky Combine

Segment: Milk processing

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Viktor Veretennikov has headed Pridneprovsky Combine for more than a quarter century. Veretennikov owns 61.46% of company’s stock, his son Andrey — 10.78%. Now the company is among Ukraine’s ten largest producers of dairy products, — it processes over 250 tons of milk daily. The company sells premium milk, yogurt and chocolate glazed cheese bars under the trademarks Zlagoda, Lyubimchik and Lіnіya Zhyttya. Some products are exported to

Belarus and Kazakhstan. Last year, Pridneprovsky Combine increased its net profit 12%, to 11.6 million hryvnias; the company’s net income hit more than 710 million hryvnias. The businessman wrote seven novels, five of which are filmed. The most famous film is a psychological drama Zagrava, filmed in 2011. The author of the novel was its producer and director. In late October, the film Hetman about Bohdan Khmelnytskiy was released. Veretennikov became its scriptwriter and producer.

№ 34 Miodrag Kosti

$17.2 million

Company: Agro Invest Ukraine

Segment: Crop farming

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Handling about 30,000 hectares of land in the Kyiv, Vinnytsia and Cherkassy Regions, Agro Invest Ukraine is only a small part of the business empire of the richest Serbian Miodrag Kosti. In Serbia, his MK Group is engaged in the production of sugar, grain, meat, as well as trade and hotel business. For 10 years, the Serbian businessman has managed to build one of the most efficient companies that grow grains and oilseeds in Ukraine.

During the decade Kosti invested about $65 million in Agro Invest. The use of an innovative soil treatment technology helps Agro Invest get high yields. For example, corn yields at the company’s fields amount to 82 centners per hectare, whereas the average in Ukraine is 61 tons per hectare. Despite the unstable political and economic situation in our country, Kosti decided to continue investing in Agro Invest. The company has recently sold the tenancy of 10,000 hectares mainly in the Zhytomyr Region, which are not suitable for the cultivation of the primary crop for the company — corn.

№ 35 Vitali Vinnitsky

$12.8 million

Company: Vitmark‑Ukraine

Segment: Juice production

Vitali Vinnitsky’s Vitmark company is Ukraine’s number two player in the juice market (second only to Sandora) with a market share of over 26%. Vinnitskiy has always been betting on latest marketing innovations. For example, Nash Sik juice packaged in white unpainted cartons is considered one of the best marketing decisions in the Ukrainian market.  “The juice flew off the shelves. It was sold so well that all the raw commodities we stored for its production were running out by April”, says Vinnitskiy.

The company exports its products to 21 countries, including the United States of America, Australia and Singapore. Last year, the share of exported goods in the total sales of Vitali Vinnitsky’s company amounted to 14%.
Vitmark compensates the loss of access to the Russian market in mid‑2014 (it accounted for over 3 million liters of juice per year) by increased shipments to other markets. In particular, the company expects to grow its export to the European Union significantly.

15 грудня 2015 23:12

Крупнейшие в мире аграрные холдинги контролируют от 1 млн до 10 млн га земли. Украинцам есть куда расти (инфографика)

краинских агробаронов часто обвиняют в гигантомании. Около 30 местных холдингов контролируют совокупно примерно 6 млн га сельскохозяйственных угодий, или 14% от общей площади сельхозземель в Украине. Например, крупнейшая аграрная компания Украины UkrLandFarming Олега Бахматюка (с капиталом $446,2 млн занимает 5-е место в рейтинге Landlord) арендует 654 000 га земли. Мультимиллионер Бахматюк не скрывает своих намерений довести эту цифру до рекордных для Украины 1 млн га. Между тем многие холдинги из других стран, где, как и в Украине, агросектор и пищевая промышленность играют ощутимую роль в экономике, давно преодолели миллионный барьер.

Не предел
Рейтинг украинских агрохолдингов по размеру земельного банка, га
Номер в рейтинге Название компании Размер зембанка, га
1 UkrLandFarming 654 000
2 «Агропросперис» 430 000
3 «Мироновский хлебопродукт» 380 000
4 «Кернел Групп» 390 000
5 «Астарта» 245 000
6 «Украинские аграрные инвестиции» 234 000
7 «Индустриальная молочная компания» 136 700
8 «Агрейн» 130 000
9 «Укрпроминвест-Агро» 122 000
10 AgroGeneration & Harmelia 120 000
11 KSG Agro 94 000
12 «Нибулон» 82 300
13 «Сварог Вест Групп» 80 000
14 «Серна» 80 000
15 «Агротрейд» 65 000
16 «Росток-Холдинг» 60 000
17 Grain Alliance («Барышевская зерновая компания») 50 000
18 «Чистая криница» 50 000
19 «Винницкая агро-промышленная группа» 50 000
20 «Агро-Экспресс-Сервис» 50 000
21 Trigon Agri 47 000
22 «Агроспецсервис» 41 000
23 «АПК‑Инвест» 41 000
24 «Агро Инвест Украина» 30 000
Источник: данные компаний

 

Китайская компания Beidahuang Group владеет 5,4 млн га сельскохозяйственных угодий. Поскольку плодородных земель в мире не так много, гигантам вроде этого китайского холдинга приходится покупать или арендовать угодья в других странах. Например, Beidahuang Group арендовала в Аргентине 234 000 га под выращивание сои. В прошлом году, по информации британской The Guardian, холдинг договорился с властями Аргентины о покупке еще 320 000 га. Аргентинское правительство согласилось на это — летом 2014-го страна объявила дефолт, поэтому любые зарубежные инвестиции к месту.

В отличие от Украины, в США, Аргентине, Австралии компании, контролирующие миллионы гектар земли, специализируются на животноводстве — как правило, разведении крупного рогатого скота. Значительная часть их земельного банка приходится на пастбища. Среди мировых лидеров в этом направлении агробизнеса — «дочка» британской инвесткомпании Terra Firma, животноводческая CPC (Consolidated Pastoral Company) и S. Kidman & Co (Kidman Holdings), которая была основана предком австралийской актрисы Николь Кидман Сиднеем в 1899 году. Компания специализируется на выращивании КРС и производстве говядины. Свою продукцию S. Kidman & Co, контролирующая 10,7 млн га, экспортирует в Японию, США и Восточную Азию. Самой Николь, по информации СМИ, принадлежит около четверти семейного бизнеса.

Растениеводство не списывают со счетов. Австралийский животноводческий холдинг AACo (Australian Agricultural Company) и аргентинская Cresud значительную часть своих земель отвели под выращивание зерновых и масличных культур. Ранее многие холдинги работали на арендованных землях, но несколько лет назад начали активно их покупать. И Cresud, и аргентинская El Tejar приобретает сельхозугодия в Бразилии, где цены невысокие и много деградировавших пастбищ, которые нужно восстановить под пахоту.

Игра больших
Рейтинг агрохолдингов мира по размеру земельного банка, га
Номер в рейтинге Название компании Страна Размер зембанка, га
1 S. Kidman & Co Австралия 10,7 млн
2 AACo (Australian Agricultural Company) Австралия 7 млн
3 NAPCO (The North Australian Pastoral) Австралия 5,8 млн
4 CPC (Consolidated Pastoral Company), дочерняя компания британской инвестиционной Terra Firma Австралия и Индонезия 5,6 млн
5 Beidahuang Group Китай 5,4 млн
6 «Иволга-Холдинг» Россия и Казахстан 1,5 млн
7 El Tejar Аргентина 1 млн
8 Cresud Аргентина более 1 млн
9 «КазЭкспортАстык» Казахстан 1 млн
10 NCH Capital США 0,8 млн
Источник: The Guardian, Forbes.com, данные компаний

 

Как и в Украине, в других странах большой размер земельного банка — еще не гарантия эффективности контролирующей его компании. Яркое тому подтверждение — казахстанский холдинг «КазЭкспортАстык», эффективность которого оставляет желать лучшего. Тысячи гектар сельскохозяйственных земель в Казахстане истощены и неплодородны. В прошлом году из-за неурожая «КазЭкспортАстык» пережил дефолт. Российско-казахстанская группа «Иволга» оказалась более успешной: ее бизнес диверсифицирован как географически, так и по различным направлениям. Компания обрабатывает свыше 1,6 млн га в Казахстане и России и кроме производства зерна и животноводства занимается хранением, переработкой, машиностроением, у нее есть сеть автозаправочных станций, 50 самолетов, несколько региональных СМИ. Капитал ее собственника Василия Розинова составляет $625 млн.

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