Business
Agrogeneration : 2023 Year-end Results Disclosure
Agrogeneration : 2023 Year-end Results
About this update from Agrogeneration Sa
Paris, January 26 th , 2024 AgroGeneration informs the market about the progress of the audit for the year-end Group's results of 2023 and the anticipated timeline for results disclosure. The auditors responsible for examining the accounts of the Ukrainian subsidiaries within the Group continue to confront substantial challenges due to the ongoing military invasion of Ukraine by Russia, which commenced in February 2022. The current situation makes it impossible to safely access sites and supporting documents, especially considering that the Group's activities are located near the frontline, specifically the Kharkiv region. The area remains highly volatile, with regular missile and artillery strikes. Throughout 2023, the region experienced an average of 5 air alerts daily, lasting up to 4 hours in total. In January 2024, the intensity of the attacks heightened, with 7 air alerts daily, lasting over 6 hours per day in total (please refer to the table below for further details). Consequently, the auditors of the Group find themselves unable to form an opinion on the accounts of the Ukrainian operating companies. Given that the majority of the Group's business and assets are concentrated in Ukraine, particularly near the frontline, and considering the ongoing hostilities, the auditors will be unable to certify the consolidated and annual accounts as of 31 December 2023. Statistics of air alerts in the Kharkiv and Kyiv regions Whole War Period (24.02.2022 –23.01.2024) 2023 Period from 01.01.2024-23.01.2024 Number of days 699 365 23 Kharkiv Kyiv Kharkiv Kyiv Kharkiv Kyiv Number of air alerts 3,413 2,528 1,657 886 153 76 Average number of alerts per day 5 4 5 2 7 3 Total duration of the air alerts , hours 2,791 1,591 1,307 647 148 53 Average duration of air alerts, hours/day 4.0 2.3 3.6 1.8 6.4 2.3 Number of explosions reported 804 293 381 175 36 12 Average number of explosions per day 1 0.4 1 0.5 2 0.5 Number of artillery attacks 2,657 - 2,283 - 269 - Average number of artillery attacks per day 4 - 6 - 12 - Source: https://air-alarms.in.ua/en The company will exert its utmost efforts to release its year-end financial statements by the end of April 2024, adhering to the required time limits. However, the company's management cannot assure the timely fulfillment of these anticipated disclosure deadlines. This uncertainty arises from the continuing force majeure conditions due to the war in Ukraine, persisting as of the date of this release. Given the challenging circumstances, the company remains committed to keeping the market informed about any substantial changes in its activities. About AGROGENERATION Founded in 2007, AgroGeneration is a large-scale producer of grain and oilseed. The company's core business is grains and oil commodity crop farming, operating near 30,000 hectares of high quality agricultural lands in the East of Ukraine. All information on AgroGeneration's website : www.AgroGeneration.com Receive all AgroGeneration's financial information by e-mail for free by registering at: www.actusnews.com AgroGeneration +33 1 55 27 38 40 [email protected] www.AgroGeneration.com Actus Finance Anne-Pauline Petureaux, Investor Relations +33 (0)1 53 67 36 72 This publication embed "🔒 Actusnews SECURITY MASTER ". - SECURITY MASTER Key: nHCdaJRskpzHnGqcYpeYnGKUmG2SmWWdmWeWxWFoZ8mVmG5jxZpqZpWdZnFknWxn - Check this key: https://www.security-master-key.com . Regulated information: Inside Information: - News release on accounts, results Full and original press release in PDF: https://www.actusnews.com/news/83871-pr_agg_2023-ye-results-disclosure_vfinal.pdf Receive by email the next press releases of the company by registering on www.actusnews.com , it's free © 2024 ActusNews