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1237 Banking

EBRD could issue EUR35 mln loan to France’s Soufflet for work in Ukraine

The European Bank for Reconstruction and Development (EBRD) is considering a project for the issue of a EUR35 million multi-currency loan to France’s Soufflet Group for the work of its ...

According to the bank, the board of its directors plans to discuss this project at a meeting on October 3 this year.

It is assumed that the funds will be used to replenish working capital necessary for the subsidiaries to work in the agro-market of these countries: from storage and processing into malt to trade in agricultural products.

Among the customers are Soufflet Agro Ukraine and Soufflet Agro Polska, which are 100% subsidiaries of Soufflet Group.
In the first half of 2018, Soufflet Agro Ukraine LLC saw revenue rise by 60.3%, to UAH 2.707 billion, while net profit fall by 2.8%, to UAH 109.93 million.

Last year the company more than doubled revenue, to UAH 3.835 billion, posting a net loss of UAH 23.23 million against UAH 31.49 million net profit a year earlier.

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