Share Name Share Symbol Market Type Share ISIN Share Description
Landkom LSE:LKI London Ordinary Share IM00B28QLQ61 ORD 0.1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 2.875p 0.00p 0.00p - - - 0.00 05:00:10
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Food Producers 10.8 -7.5 0.0 - 12.51

Landkom Share Discussion Threads

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DateSubjectAuthorDiscuss
11/1/2015
15:00
In the UK a company can delist another companies shares once it has 75% of the shares in issue. I would think Stockholm will be similar... Stockholm, 23 December 2014 Agrokultura AB (publ) (”Agrokultura”) has, as previously announced, applied for delisting from Nasdaq First North. Nasdaq First North has approved Agrokultura’s application on delisting and resolved that last day for trading is Friday 27 February 2015. As described in the company’s press release as of 18 December 2014, there are currently not legal conditions to initiate a compulsory acquisition of the remaining shares in Agrokultura. To enable holders of shares in Agrokultura to sell their holdings also after the last day of trading in Agrokultura’s shares on Nasdaq First North, Magna Investments Limited (“Magna”) intends, following 27 February 2015, to offer the minority shareholders to sell their shares to Magna on terms corresponding to those applicable under the mandatory offer announced on 28 August 2014 by Steenord Corp. Magna is a closely related party to Steenord Corp.
loganair
11/1/2015
12:44
Does anyone else has Agrokultura AB (originally landkom shares). A company has over 95% of shares and is going to delist (stop trading) in end February. Can they do this? What about our shares? Any idea please.
hightech
23/9/2014
18:26
hxxps://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=624819&lang=en Agrokultura Board: "Shareholders with a prudent view of risk should accept the mandatory offer" went as low as 3.7 SEK in August
jhan66
30/4/2014
14:27
Crop condition report - Agrokultura AB the owner and operator of farmland with agricultural operations in Russia and Ukraine announces a condition update for its winter planted crops: In Russia where 16,300 ha of winter wheat were planted in 2013, weather conditions have been less optimal than in the previous year. The seeding campaign was characterised by very wet conditions. This caused a reduction in planting levels which will be addressed by an increase in spring planting 2014. Winter conditions have been reasonable with a wet and relatively warm end to 2013. While temperatures dropped to -35 Celsius in January 2014, the crop was protected by snow cover which has led to no material winter losses. A majority of the cropped area is designated as satisfactory or excellent with the latest planted areas being weak. Weather over the coming months to harvest will dictate what yields are to be achieved. In Ukraine where 24,700 ha were seeded, made up of 12,400 ha of winter rapeseed, 8,200 ha of winter wheat and 4,100 ha of winter barley, similar weather conditions have been encountered to Russia which has also led to no material winter losses. Approximately 85 per cent of fields are deemed to have emerged from the winter in excellent condition with the remainder in average condition. Stephen Pickup, Managing Director, commented "We have come out of the winter undamaged with the potential for good yields. Harvest for those winter crops will be upon us shortly and we will focus our attention on ensuring all necessary resource is put into the extraction of the maximum yield possible. The pricing environment is showing some positive trends and we are hoping for favourable weather conditions for the rest of the season."
loganair
10/4/2014
13:40
Full Year Interim Report 2013 Financial highlights - Revenue for the period fell by 8 per cent to SEK 617 million (SEK 673 million) driven by a sharp decrease in commodity prices. - The loss before depreciation (EBITDA) was SEK 129 million (profit SEK 29 million) and net loss was SEK 262 million (net loss SEK 102 million). - On 31 December 2013, Group debt totalled SEK 167 million (SEK 162 million). Group cash at the same date was SEK 29 million (SEK 41 million), and unsold inventory amounted to SEK 93 million (SEK 143 million). - Russia cropping business positive EBITDA and cash generative - Cash situation remains constrained due to 2013 Ukrainian losses and delays in the execution of Kaliningrad sale - Loss per share was SEK 1.88 (SEK 0.73) Operational highlights - Weighted average yields up 34 per cent in Russia and 11 per cent in Ukraine - Development and implementation of a SEK 150 million cost saving programme focussed on direct cost inputs and payroll - Agreement signed for the divestiture of Group's Kaliningrad assets at around book value - Discussions ongoing related to the sale of Ukraine business in whole or in part despite political events - No major negative impact on operations relating to political events in Ukraine Stephen Pickup, Group Managing Director, commented "2013 has been a difficult year where, despite materially improved yields, financial results have been dominated by falls in commodity prices. However, the Group management team which came together in the fourth quarter 2013 is committed to improving performance through the cost savings and the divestment of poorly performing businesses. "At the same time commodity pricing has improved which leads us to look forward to 2014 with a positive outlook. The Group will focus on ensuring that the cost cutting programme is successfully implemented, whilst exerting strict controls and procedures, and building upon the operating successes. At the same time we will continue to investigate ways of delivering maximum value to shareholders, if appropriate through disposals." Upcoming Reporting Dates Annual Report 2013 – 24 April 2014 Annual General Meeting – 15 May 2014 Half Year Report – 28 August 2014
loganair
22/1/2014
11:31
Turnaround on track - SEK 150 million cost cutting exercise on track with goal to deliver profitable operations. Interest shown in Ukraine business in excess of book value. Successful sale of Kaliningrad operation to deliver cash flow of approximately SEK 100 million. Strong improvements in yield offset by reductions in price of commodities sold Much improved liquidity position. The Company's share has lately been trading at a discount of over 60% to the Company's net asset value per share as at 30 June 2013 of SEK 8.20. The Board, in order to deliver on the expectations of the Company's shareholders, is committed on a strategy to proactively compare the value of the Company as a going concern versus the value an external buyer is willing to pay for the Company's shares, assets or a combination of the two. Cost cutting: In order to address the reduction in commodity pricing, the Company is implementing a cost cutting programme which identified over SEK 150 million (approximately USD 23 million) of savings when compared to the 2012 cost base, the results of which will be seen in 2014. Every part of the business was reviewed from a cost perspective. The largest areas of cuts are salary costs and Ukrainian direct input costs. Ukraine will use lower cost generic chemicals and lower quantities of complex fertilisers which together with recent drops in prices will materially reduce direct input costs without impacting yield performance. Headcount at all levels in the Company is being rationalised which is expected to reduce the annual total payroll cost by over 20 per cent or SEK 37 million. Senior management has been reduced by 30 per cent which should provide a more streamlined decision making process. Close monitoring will ensure cost targets are met. Ukraine: In October 2013, the Company announced that it had hired Dragon Capital to conduct a strategic review of its Ukrainian business. As part of that strategic review, the Company has received interest in its Ukrainian business in excess of book value. Although there is no guarantee that a binding offer will materialise or that the Board would approve a sale, this is indicative of the intrinsic value in the business. The concrete results of this process are expected to be announced during the spring of 2014. Russia: The Board will also carry out an external strategic review of its remaining Russian operations to establish if the current operational setup maximises shareholder value. Non-core divestments: In December 2013 the Company announced the disposal of its Kaliningrad cluster in Russia (approximately 14,000 ha) at close to book value which will generate approximately SEK 100 million (approximately USD 15 million) of cashflow over the coming months. The Company sees the divestment of non-core or non-performing assets as a key element to deliver value to shareholders. Good progress has been made in Ukraine by disposing of approximately 25,000 ha over the past 18 months, although the land bank still exceeds the planted land by 18,000 ha. The Company is now left with one large cluster in western Ukraine together with its cash generative Russia "Central Black Soil" operation. Operational update: As previously announced, operationally the 2013 harvest was very successful with material yield improvements across both Ukraine and Russia. Russia was of particular note with an average increase in yield of 31 per cent which builds on strong yield improvements in the previous harvest. While operating costs were marginally above management expectations, the global drop in agricultural commodity prices has decreased revenue per tonne materially which will cause another year of material losses at the Group level, driven mostly by the Ukrainian operations. Liquidity: Revenues from the harvest together with the revenues from the sale of Kaliningrad will ensure the Company has a much improved working capital situation going forward including making limited capital investments and keeping a vital cash buffer to enable cost savings to be extracted. Stephen Pickup, Group Managing Director commented "All current initiatives are being put in place to deliver value to shareholders. We have an initial target to deliver book value which we believe is possible with all the projects which are being worked on. On a Company level we are cutting costs to ensure that for the first time in the Company's history we have a viable profitable business, on a local level we are investigating if the best return can be delivered to shareholders through the outright sale of certain assets. Should further assets be sold, proceeds would likely be returned to shareholders"
loganair
11/9/2013
09:02
Half year report 2013: Agrokultura, the Russian and Ukrainian producer of agricultural commodities, announces its results for the six months ending 30 June 2013. Numbers in Brackets relate to the six month period ending 30 June 2012. Financial highlights Total revenue for the period ended 30 June 2013 amounted to KSEK 192,882 (176,387). The Group reported a loss before depreciation and amortization for the period of KSEK -20,839 (profit 113,442). Net loss was KSEK -76,905 (net profit 33,322). Net asset value per share at 30 June 2013 was SEK 8.20 per share (SEK 10.14) and loss per share amounted to SEK -0.55 (profit SEK 0.25). On June 30 2013, Group debt, incorporating lease financing and interest bearing bank borrowings, totalled KSEK 249,962 (201,727). Group cash at the same date was KSEK 11,211 (30,472). Operational highlights The planted area for harvest in 2013 is on a steady level with 134,400 hectares (133,400) including 5,500 hectares of fodder crops for the Group's livestock operations. Harvesting of winter crops materially completed, incorporating approximately 46 per cent of total expected harvest for the year or 59,300 hectares. Winter crop yields up compared to last year, with in particular improvements in the winter rape in Ukraine of over 30 per cent and winter wheat in central Russia of almost 50 per cent. Agreements have been made for land disposals in Ukraine of 24,800 hectares. Excluding the land area for disposal, the Group retained a total land bank of approximately 226,800 hectares (281,300) at the end of the period, whereof 158,100 hectares in Russia and 68,700 hectares in Ukraine. In June 2013 the Company changed name from Alpcot Agro to Agrokultura. Ulf Scholander, Managing Director, commented "While we are seeing continuous improvements in our operations and in yields, the company's financial results are far from satisfactory. Further work is needed to adjust our cost base in relation to the recent drop in prices of agricultural commodities.
loganair
11/9/2013
09:00
Winter crops harvest report Agrokultura AB ("the Company"), has almost completed the harvest of the winter planted crops for 2013. The yields are up across the board compared to last year, with in particular notable improvements in the winter rape in Ukraine and the winter wheat in central Russia. The total winter crops harvest encompasses 59,300 hectares which equals about 46 percent of the total planted area for harvest in 2013. The highlights are: Significant improvements in yields overall, as a consequence of favourable weather across the areas of operation as well as improvements in execution. Ukraine winter rape yield increased with over thirty per cent compared to 2012. This is to a large extent due to improvements in planting following last year's acquisition in Ukraine. Winter wheat yield per hectare in Russia Central Black Soil region increased by close to fifty percent due to mostly favourable growing conditions as well as investments and advances in production technology. The quality of the harvested crops is on normal levels, but rains in Russia CBS in early August halted the harvest for ten days and will have some effect on the protein content of the grains in that region. Harvest results winter planted crops 2013 Harvested area, ha Gross harvest, tonnes 2013 Gross yield (t/ha) 2013 Net yield* (t/ha) 2012 Gross yield (t/ha) 2012 Net yield (t/ha) Year-on- year change Ukraine Winter wheat 14,200 54,500 3.8 3.7 3.9 3.7 0% Winter rape 13,400 51,600 3.0 2.9 2.4 2.2 32% Winter barley 4,200 16,100 3.8 3.7 3.5 3.3 12% Russia CBS Winter wheat 24,200 93,000 3.8 3.7 2.7 2.5 48% Kaliningrad Winter wheat 1,900 9,200 4.9 4.4 4.2 3.7 19% Winter rape 1,400 3,000 2.1 1.9 2.0 1.8 6% Group total for winter crops 59,300 227,400 3.8 n/a n/a n/a n/a
loganair
14/6/2013
10:11
14 June 2013 - Name change to Agrokultura AB (ticker AGRA) Following the recent resolution by the Annual General Meeting on 16 May, the Company hereby announces that effective from Tuesday 18 June the shares of "Alpcot Agro AB" (ticker: "ALPA") will be traded on Nasdaq OMX First North under the new name "Agrokultura AB" (ticker: "AGRA").
loganair
14/6/2013
10:09
Spring planting completed The Company has this week successfully completed the spring planting campaign under satisfactory conditions. The total area of commercial crops for harvest in 2013 covers 128,900 hectares, as compared to 126,000 hectares harvested in 2012 reflecting a modest rise in actual hectares but a considerable improvement in the quality of planting. Hectares cultivated with sunflower, which historically has been one of the Company's most profitable crops, have increased by 30 per cent at the expense of some less profitable grains. Spring arrived comparatively late this year. The weather conditions during the early part of the spring field works were dry across the Company's operations in Central Russia and in Western Ukraine, but the second half of May has seen good levels of rain. The harvest is scheduled to begin in the beginning of July. Ulf Scholander, Managing Director, commented "The late spring shortened the optimal planting window across all our operations. But new machinery and good execution assisted the completion of the planting on time. Recent rains across Russia and Ukraine have been welcome and mean that the April and May dry period should not cause a material yield impact."
loganair
11/4/2013
14:38
28/03/2013 - Full Year Interim Report 2012 http://feed.ne.cision.com/wpyfs/00/00/00/00/00/1E/79/3F/wkr0006.pdf Financial highlights Revenue for the period rose 194 per cent to SEK 745 million (SEK 253 million) driven by the increase in commodity prices and the expansion of the Ukrainian operations. The result before depreciation (EBITDA) was SEK 50.3 million (SEK -6.3 million) and net loss was SEK -102 million (net loss SEK -119 million). On 31 December 2012, Group debt, incorporating lease financing and interest bearing bank borrowings, totalled SEK 136 million (SEK 173 million). Group cash at the same date was SEK 44 million (SEK 64 million), and unsold inventory amounted to SEK 148 million (SEK 125 million). Operational highlights Cropped area expanded by 38 per cent to 126,000 hectares (ha) (91,400 ha) of cash crops and the gross harvested volume increased by 46 per cent to 409,500 tonnes (279,800). Winter crops planted across 28,400 hectares in Russia and 32,600 hectares in Ukraine. Total land bank at 31 December 2012 of approximately 254,400 hectares of which 161,000 ha in Russia and 93,400 ha in Ukraine. The acquisition of Landkom International Plc (Landkom) in January 2012 gave the Company control over an additional 77,000 ha of land in Ukraine. After the acquisition, the Group became involved in a legal dispute with a former supplier of Landkom. The dispute was resolved in October 2012 but hampered the Ukrainian operations and post-merger integration as well as holding back profitability. Ulf Scholander, Managing Director, commented "The Group will continue to take advantage of the continuing attractive pricing environment, building on its success in Russia and improving performance in Ukraine moving forward from the legal difficulties of 2012." "The Group's land bank will be reduced and improved, our machinery fleet will be renewed and we will focus on the most profitable crops whilst keeping a close eye on costs."
loganair
29/1/2013
09:44
Q4 Russia livestock update for Q4 2012 - milk production up 31% At 31 December 2012, the livestock herd of 6,427 animals consisted of 3,250 dairy cows, 2,719 heifers and 458 bulls and calves. The herd was 7,588 animals at 31 December 2011, consisting of 2,990 dairy cows, 3,365 heifers and 1,233 bulls and calves. The average milk production on the dairy farms was up 31% year-on-year to 42.1 tonnes per day (Q4 2011: 31.9 tonnes), mostly as a consequence of the improvements in the genetic makeup of the herd as well as its general quality and health. The average production per cow grew by 15% from 464 litres per month during Q4 2011 to 536 litres per month during Q4 2012. During Q4 2012, sales of livestock related produce were up 66% year-on-year to SEK 15.9 million excluding VAT (approximately USD 2.4 million), (Q4 2011: SEK 9.6 million, USD 1.5 million). Sales were also up 9% compared to Q3 2012. The prices on the Group´s milk products were up 15% higher at the end of 2012 compared to last year due to the higher fat and protein content in the milk which commands a higher price. Stephen Pickup Group CFO commented: "The reduction in herd size together with the improvement in productivity is clear indication of the improvement in performance of the dairy operation which benefitted from investment in 2011. Our focus remains on continuing to build on fertility rates and managing feed input costs in the current grain price environment."
loganair
08/1/2013
11:38
Alpcot Agro - Harvest Report 2012 Highlights Total harvested area up 35% on 2011 at 123,300 hectares Particularly strong results for sunflower, corn and rapeseed 2012 Winter planting campaign of 61,000 hectares, comprising of rapeseed, wheat and barley Focus for 2013 on maximising planting of the Company's most profitable crops Continuing to take advantage of strong pricing environment Jens Peter Aabyen, Managing Director of Alpcot Agro, commented, "This strong harvest result is a considerable achievement following our substantial acquisition in Ukraine in the beginning of the year. We significantly expanded our cropped area while maintaining good yields and benefiting from the positive weather conditions." "We will continue to focus on improving operational efficiency and are well positioned to benefit from the current high crop prices." Harvest 2012 The Company´s areas of operation were not particularly affected by the adverse weather which impacted parts of Central and Eastern Europe in the summer of 2012. The drought in North America contributed to the continued upward trend in world market prices for the Company's commodities. The harvest season overall saw good weather conditions, with a hot summer and a mild autumn. The Company has to date harvested a gross total of 392,400 tonnes of crops, an increase of 40 percent compared to 2011 (279,800 tonnes gross), with a minor part of the corn still remaining to harvest. At current prices and yields, the Company's most profitable crops are sunflower, corn and rapeseed. In Russia, the sunflower harvest delivered an average net yield of 2.0 tonnes/ha. To date, average selling prices have been SEK 2,926 (USD 438) per tonne, delivering an average revenue of SEK 5,852 (USD 876) per ha of sunflower. In Ukraine, the corn harvest delivered an average net yield of 7.2 tonnes/ha and the rapeseed harvest 2.2 tonnes/ha net. Achieved sales prices have been strong, averaging SEK 3,727 (USD 558) for rapeseed and SEK 1,403 (USD 210) for corn delivering average revenues of SEK 8,200 (USD 1,228) per ha and SEK 10,100 (USD 1,512) per ha respectively. There were significant differences in yield on the fields that were planted by Alpcot Agro and on those planted by Landkom in the autumn of 2011. The Company therefore expects to be able to bring considerable yield improvements across the Ukraine business going forward. A full cost and revenue analysis of the different crops will be provided with the year-end report in March 2013. Less than 3,000 hectares of corn remain to be harvested across Russia and Ukraine. The Company expects to have completed the harvest of this area by the end of year. Sales and Inventory The Company has been taking advantage of the current attractive pricing situation. At the end of November 2012, approximately 75 per cent of expected value of the 2012 harvested crops had been sold with the remainder to be sold by the end of Q1 2013. Remaining crops include corn, sunflower and wheat. Winter planting 2012 The Company has planted 61,000 ha in its winter planting campaign. The crops are in good condition and have established well. Weather conditions for all autumn planting across Russia and Ukraine have been satisfactory.
loganair
08/1/2013
11:31
Landkom International plc. was acquired by Alpcot Agro 27 January 2012. This thread is for any Landkom share holders who took up the offer of Alpcot Agro shares instead of the cash alternative and will run until Alpcot Agro gains a full listing on the FTSE in London. 28 March 2013 Listing - The Board has decided that it will proceed to seek a listing on a larger stock exchange only when the Group is ready. The priority is to restructure and improve the performance of the business before any value can be delivered to shareholders through an upgraded listing. www.agrokultura.com/ Interim Full Year Report 2012 - 22 March 2013 Annual Report 2012 - 24 April 2013 Halfyear Report 2013 - 30 August 2013 It is confirmed that anyone holding LKI shares will be receiving Alpcot Agro CDI's held on the London Stock Exchange (on the basis of 1 Alpcot Share for every 22.16 LKI shares). What are Crest Depository Interests (CDIs)? CDIs are UK securities representing an underlying interest in an overseas security. They are issued on a one-for-one basis. Because CDIs are UK securities, you can receive dividends in sterling and can buy or sell CDIs easily in the UK. You should note however that if underlying investments are quoted in other currencies, exchange rate movements may affect the value of your investment in pounds sterling.
loganair
21/12/2012
17:43
Alpcot quest for quality fails to cheer its shares. Alpcot Agro said it was choosing quality over quantity in its 2013 sowings, and favouring corn, rapeseed and sunflower, its most profitable crops – but failed to cheer investors, who sent its shares to an all-time low. The Black Sea farm operator said that while its winter crop sowings in Ukraine had increased, a reflection of area gained with the takeover of Landkom earlier this year, those in Russia were 26% lower, at 24,400 hectares. The underlying trend away from winter crop sowings reflected in part a growing preference for spring crops, given advantages in cash flow terms – with less time between planting expenses and harvest – besides the avoidance of the threat of damage from the region's cold winters. "It is better for working capital and there is less crop risk," Stephen Pickup, the Alpcot Agro finance director, told Agrimoney.com. 'Making the most of each hectare' However, the switch also reflects a focus on more profitable crops which, while including rapeseed, which is largely winter sown, also number corn and sunflowers, spring-planted crops. Indeed, the group, which earlier this year revealed plans to cut farmland holdings in less productive areas of Ukraine, is tending to dispose of unwanted land rather than build up a bank of underutilised holdings. "We are much more in favour of decreasing the landbank, gaining revenues and not having people asking why we are only planting 70% of our landbank," Mr Pickup said, adding that the group would still have sufficient land to exploit benefits of "scale". "We are in favour of making the most of each hectare, rather than planting more and more but not in the best fashion." Escaped the worst The comments came as the group revealed harvest results for 2012 showing that the group had fared relatively well during a poor season for former Soviet Union yields, with its Russian farms in the Black Earth region which peers Ekosem Agrar and Black Earth Farming have already shown enjoyed better summer conditions. "The company's areas of operation were not particularly affected by the adverse weather which impacted parts of central and eastern Europe in the summer," Alpcot Agro said. In Russia, corn and sunflower yields fell by more than 10%, but those of winter wheat were close to 2012 levels, and those of sugar beet and spring rapeseed higher. In Ukraine, the poorer performance of Landkom fields dragged the overall results lower, and leading the group to forecast "considerable yield improvements across the Ukraine business" with all land sown to Alpcot specifications. Market reaction However, the comments failed to impress investors, who sent Alpcot Agro shares, which are listed in Stockholm, down 2.0% to SEK4.90 at the close. The stock earlier hit an all-time low of SEK4.80. "The group has a tightly held shareholder base. I do not think that is helping them," a person close to Alpcot said.
loganair
19/12/2012
16:38
Alpcot Agro - Harvest Report 2012 Highlights Total harvested area up 35% on 2011 at 123,300 hectares Particularly strong results for sunflower, corn and rapeseed 2012 Winter planting campaign of 61,000 hectares, comprising of rapeseed, wheat and barley Focus for 2013 on maximising planting of the Company's most profitable crops Continuing to take advantage of strong pricing environment Jens Peter Aabyen, Managing Director of Alpcot Agro, commented, "This strong harvest result is a considerable achievement following our substantial acquisition in Ukraine in the beginning of the year. We significantly expanded our cropped area while maintaining good yields and benefiting from the positive weather conditions." "We will continue to focus on improving operational efficiency and are well positioned to benefit from the current high crop prices." Harvest 2012 The Company´s areas of operation were not particularly affected by the adverse weather which impacted parts of Central and Eastern Europe in the summer of 2012. The drought in North America contributed to the continued upward trend in world market prices for the Company's commodities. The harvest season overall saw good weather conditions, with a hot summer and a mild autumn. The Company has to date harvested a gross total of 392,400 tonnes of crops, an increase of 40 percent compared to 2011 (279,800 tonnes gross), with a minor part of the corn still remaining to harvest. At current prices and yields, the Company's most profitable crops are sunflower, corn and rapeseed. In Russia, the sunflower harvest delivered an average net yield of 2.0 tonnes/ha. To date, average selling prices have been SEK 2,926 (USD 438) per tonne, delivering an average revenue of SEK 5,852 (USD 876) per ha of sunflower. In Ukraine, the corn harvest delivered an average net yield of 7.2 tonnes/ha and the rapeseed harvest 2.2 tonnes/ha net. Achieved sales prices have been strong, averaging SEK 3,727 (USD 558) for rapeseed and SEK 1,403 (USD 210) for corn delivering average revenues of SEK 8,200 (USD 1,228) per ha and SEK 10,100 (USD 1,512) per ha respectively. There were significant differences in yield on the fields that were planted by Alpcot Agro and on those planted by Landkom in the autumn of 2011. The Company therefore expects to be able to bring considerable yield improvements across the Ukraine business going forward. A full cost and revenue analysis of the different crops will be provided with the year-end report in March 2013. Less than 3,000 hectares of corn remain to be harvested across Russia and Ukraine. The Company expects to have completed the harvest of this area by the end of year. Sales and Inventory The Company has been taking advantage of the current attractive pricing situation. At the end of November 2012, approximately 75 per cent of expected value of the 2012 harvested crops had been sold with the remainder to be sold by the end of Q1 2013. Remaining crops include corn, sunflower and wheat. Winter planting 2012 The Company has planted 61,000 ha in its winter planting campaign. The crops are in good condition and have established well. Weather conditions for all autumn planting across Russia and Ukraine have been satisfactory.
loganair
17/10/2012
09:46
Alpcot Agro settles dispute in Ukraine As communicated earlier, Alpcot Agro has been involved in a dispute with a former supplier of Landkom in Ukraine. The parties have now concluded a settlement, wherein an agreement has been reached on the amount of debt. Alpcot Agro will pay all outstanding debts to the counterparty in the near term and the counterparty will cancel all legal activities against Alpcot Agro in Ukraine including terminating the bankruptcy proceedings against Alpcot Agro's subsidiary, which was communicated on 7 September.
loganair
13/9/2012
10:42
Half Year Report 2012 Alpcot Agro, the Russian and Ukrainian producer of agricultural commodities, announces its results for the six months ending 30 June 2012. Highlights - (Figures in brackets relate to the six month period ending 30 June 2011.) Total revenue and gains for the period ended 30 June 2012 amounted to KSEK 256,764 (104,862) of which KSEK 80,377 (34,645) was a gain from changes in fair value of biological assets. The Group reported a positive operating result before depreciation and amortization for the period of KSEK 15,333 (35,516). Net profit was KSEK 33,322 (net loss 28,704). A negative goodwill gain of KSEK 98,109 has been recognized in relation to the Landkom acquisition to reflect that the estimated fair value of acquired net assets exceeded the consideration. (Alpcot Agro purchased Landkom for SEK 150,253 while Landkom had net assets at fair value of SEK 248,435 - as we thought the management of Landkom sold out to Alpcot for too lower price.) Net asset value per share at 30 June 2012 was SEK 10.14 per share (SEK 12.55) and profit per share amounted to SEK 0.25 (loss SEK 0.43). On June 30 2012, Group debt, incorporating lease financing and interest bearing bank borrowings, totaled KSEK 201,727 (174,564). Group cash at the same period was KSEK 30,472 (191,753). Expansion of planted area by 37 per cent compared to 2011 at 133,400 hectares ("ha") including 6,000 ha of fodder crops for the Group's livestock operations. Harvesting of winter crops materially completed, incorporating approximately 56 per cent of total expected harvest ha for the year or 74,400 ha. The yields to date in Ukraine are comparable to 2011. Material improvements have been made on the lands which were planted by Alpcot Agro in the fall, but the average results are brought down by the fields that were planted in the fall by Landkom. The yields in Russia continue to show an upward trend. Expected improvements over the coming year are likely to be as a result of improvements in the land bank. This is of particular significance in Ukraine, where prior to the acquisition, much of the Landkom land was planted in inefficient locations which leads to poor utilisation of machinery, increased indirect farming costs and poorer management control. This is especially evident in the results of the 2012 rapeseed harvest of which a majority was planted by Landkom. Legacy Alpcot Agro Ukraine rapeseed yields were 26 per cent higher than former Landkom land despite the land being of a similar quality and the cost structure being comparable. The Group would seek to equalise these yields in coming years improving Group profitability. Crop sales campaign realizing near historically high prices. Russian dairy operations continue to benefit from the Group's 2011 investment with milk production up 21.3 per cent year on year. At the period end the Group retained a land bank of approximately 179,500 ha in Russia and 101,800 hectares in Ukraine giving total land under control of 281,300 ha. The Group issued a total of 39.8 million new shares in January consisting of an issue in kind of 20.0 million shares as consideration for the payment of the acquisition of Landkom and a directed share issue of 19.8 million shares at a share price of 7 SEK which provided the Group with proceeds of KSEK 138,400 before issue costs. Jens Peter Aabyen, Managing Director, commented "We have maintained our strong momentum during the first six months of the financial year, in terms of substantially diversifying our geographic risk, improving operational efficiencies as well as notably increasing the amount of land planted. We now have more land being farmed than ever before, with more efficiency and more knowledge. We look forward to cultivating the Landkom land to deliver the same strong results as Alpcot Agro land. "Our crop yields and sales agreements to date are encouraging and current commodity prices give us confidence for the year. Selected land disposals are being made across Ukraine and Russia to deliver a resultant land bank which permits the most efficient and consolidated operating units"
loganair
06/8/2012
09:15
Russian agricultural producers have started talks with the country's largest food retail chains over raising the prices of some goods by up to 20 percent, Vedomosti business daily reported on Monday. Bread suppliers are seeking a price increase of 10 percent on average, while bakery producers want price hikes of around 15-18 percent. Food suppliers claim their costs have risen due to increasing electricity and utility charges from July 1, and soaring grain prices driven by expectation of a poor harvest in the wake of the drought currently affecting some areas of Russia. "A ton of high-grade wheat flour cost 11,000-11,500 rubles ($343.75-$359.38) wholesale in June whereas now bread producers are already purchasing flour at 13,000-14,000 rubles ($406.25-$437.50)," said Vladimir Petrichenko, head of ProZerno analytical company. "If we continue to sell bakery products at the old prices, our enterprise will fall short of funds to pay both wages and taxes and purchase raw materials, which will cause the enterprise to grind to a halt," a bread producer from the central Bryansk Region wrote in a letter cited by Vedomosti. Russia's Agriculture Ministry estimates the drought has already destroyed 6 percent of the country's sown area. The worst affected are the Southern Federal District, the Urals, Siberia and the Volga area. Russia may lose a total of 14 million tons this year due to the drought, Agriculture Minister Nikolai Fyodorov has said.
loganair
31/7/2012
14:28
Russia will harvest 10-15 percent less grain this year than in 2011 due to unfavorable weather conditions, Agriculture Minister Nikolai Fyodorov said on Tuesday. "The harvest shortfall may reach 12 million tons in some Russian regions and 14 million tons across Russia," Fyodorov told a meeting chaired by Prime Minister Dmitry Medvedev to discuss the ongoing grain harvest. Russia harvested 94.2 million tons of grain in 2011 but is expected to harvest only 80-85 million tons this year. Russian wheat prices have grown since the start of this summer, hitting a record high of 8,800-8,900 rubles ($273-276) per ton in early July and reaching 9,500 rubles ($296) in several regions, sparking fears of an eventual increase in fodder and meat prices. Russia's wheat prices have shot up owing to the drought in the United States, and some Russian regions and heavy rains in the south of Russia earlier this year. The Russian Agriculture Ministry's recent downgrade of this year's grain harvest forecast from 94 million tons to 80-85 million tons also drove wheat prices up. The Russian Agriculture Ministry has also downgraded its export forecast from the 20 million tons previously expected to just 16 million tons. Medvedev instructed the government to calculate and set the level of intervention required on the grain market to stabilize wheat prices. "I would like you to define, within the shortest time possible, both the regions and the amounts of grain intervention," Medvedev said, adding Russia's intervention fund currently contained about 5 million tons of grain.
loganair
26/7/2012
08:20
Evening markets: Russia export fears spur wheat price bounce: The mounting fears concerned in particular wheat, as talk mounted that Russia is poised to introduce some kind of restriction on grain exports, amid further gloomy talk about its harvest. "Some talk around the Russian wheat crop not yielding as expected has also helped lift the market today," the European commodities house said. "With the Russians' recent history of imposing an export embargo last time they suffered a crop problem the market is especially aware of any Russian crop scare." At FCStone, Mike O'Dea said: "Russia is back in the news this morning, with reports that due to drought/short crop we may see an embargo or export tax. "This has pushed the wheat futures higher." Grain traders are forcasting wheat exports to be 7m-10m tons this year significantly lower than the 21m tons exported last year. Wheat prices have risen from a 2012 low of just over $6 per bushel to around $9 per bushel at the back end of July.
loganair
23/7/2012
09:52
The USDA cut its corn harvest forecast by 12% for the US (the largest corn producer in the world) and 5% globally due to the drought in the US corn belt.
loganair
02/7/2012
13:36
Operational update: cropped area 2012 increase of 40 percent: Alpcot Agro ("the Company") has completed its spring planting campaign. The total cropped area 2012 of commercial crops covers 127,400 hectares, an increase by 40 percent compared to 2011. Including forage crops for own internal usage this figure rises to approximately 133,400 ha. The spring planting has been completed in all the Company´s regions. Total spring planting covers approximately 41,100 hectares in Russia and 19,800 hectares in Ukraine. The most significant spring planted crops are sunflower with 17,200 hectares and corn with 14,200 hectares. For the full cropping breakdown, see the table below. Including the Company's winter planted area of approximately 66,500 hectares, the total area planted with commercial crops in Russia and Ukraine for harvest in 2012 in aggregate amounts to approximately 127,400 hectares. This represents a 40 percent increase compared to the cropped area in 2011. In addition, the Company is cropping about 6,000 hectares with forage crops for internal use within the Company's livestock operations in Russia. In western Ukraine, the spring planted crops are developing well under favourable weather conditions. In the Russian black earth region, the spring has been hot and dry which put stress on the winter crops but during the second half of May the region had rain which improved the picture somewhat. The harvest is scheduled to begin by the end of June in Ukraine and in the beginning of July in Russia. Jens Peter Aabyen, Managing Director, comments: "Alpcot Agro keeps increasing the amount of cropped land. Following the acquisition of Landkom, we have increased the planted area by 40% compared to last year. With the heat wave in May not affecting our lands in Ukraine, we already now see the benefit from acquiring Landkom in terms of hedging the weather risk. We expect that the Company will have a greater harvested volume in Ukraine than in Russia this year." Crop..................Russia.Ukraine...Total Winter crops: Winter wheat..........30,000..14,100...44,100 Winter rape............1,500..18,400...19,800 Winter Barley..................2,600....2,600 Spring crops: Sunflower.............13,200...4,100...17,200 Corn...................3,300..10,800....4,200 Barley.................8,500............8,500 Soybean................5,600...1,300....6,900 Buckwheat..............2,100...3,100....5,200 Spring rape............4,200............4,200 Bean...................1,100............1,100 Sugar beets..............800..............800 Spring wheat.............700..............700 Other crops for sale...1,600.....500....2,100 Total crops for sale..72,600..54,800..127,400 Forage crops...........6,000............6,000 Total cropped area....78,600..54,800..133,400
loganair
24/5/2012
15:00
Alpcot Agro raises question over reseeding rates. Alpcot Agro, revealing the loss of one-third of its winter barley area to winterkill, put a question mark over rates of spring reseeding of frost-hit crops by saying it would leave its lost Ukraine fields alone. The former Soviet Union farm operator, which bought UK-listed Landkom earlier this year, said it lost 5,900 hectares of winter crops to cold weather, mainly in Ukraine, with its Russian fields protected by "thick snow cover". The losses represent 8% of total autumn seedings, although for its small area with barley, the rate was 33%, leaving the company with 2,900 hectares. "The remaining crops are in very good shape," Alpcot Agro said. Not so simple? However, while in Kaliningrad the group will reseed the 1,900 hectares lost with spring crops such as barley, rapeseed and wheat, in Ukraine, the 4,000 hectares abandoned will not be reseeded until autumn. "Chemical residues make them better suited for winter crops," Alpcot Agro said. The decision ties with cautions from some farm commentators that replanting fields whose winter crops were lost is not as straightforward as it might appear. For instance, Matthias Wree, head of RMI Analytics, has cautioned over the complications of replanting with spring barley, with the risk of contamination from the abandoned crop, and an unduly high protein rate encouraged by previously applied fertilizer. "Certainly, there is an opportunity for increasing area planted with barley. But whether that is quality barley is a different matter," Mr Wree told Agrimoney.com earlier in the spring. Barley supplies need to meet a number of quality specifications, such as falling below nitrogen and protein ceilings, besides meeting criteria for alien seeds, before being considered fit for maltsters. Financial implications Other commentators, such as US Department of Agriculture attaches, have questioned the financial ability of farmers in some areas to pay for the seed, fuel, labour, fertilizers and agrichemicals required to replant. Ukraine's farm ministry estimates that 2.5m hectares of winter grains will be reseeded, out of 8.4m hectares sown.
loganair
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