6 September 2011
KSG Agro (WSE: KSG PW, N/R) improved its guidance for 2011E revenue by 36% to USD 36.2 mln, EBITDA by 23% to USD 29.8 mln, and net income by 22% to USD 24.3 mln, according to a statement released by the company yesterday. KSG Agro manages 53 ths ha of land. Yegor Samusenko: We believe the increase in guidance is based on the faster-than-expected growth in landbank via acquisitions, and attribute a substantial portion of projected 82% EBITDA margin to biological asset revaluation.