UBM continued its international expansion

By: STA Date: 2024. 04. 02. 10:00

UBM continued its international expansion, the majority of the agricultural group’s sales revenue came from exports in the first half of the 2023-2024 business year, which ended in December, the company told MTI on Tuesday.

UBM closed the period with a sales revenue of HUF 105.3 billion and a pre-tax profit of more than HUF 1 billion. Previously, they reached HUF 122.6 billion and HUF 1.5 billion in the entire business year, and based on this, the latest half-year result was evaluated as an improving trend. Although the total value of exports decreased from HUF 58.25 billion to HUF 57.25 billion in a year-on-year comparison, its share in total sales increased from 47.5 percent to 54.3 percent, almost a quarter of which comes from the German, Italian, Austrian and Romanian markets – they wrote. According to the statement, the decrease in income was caused by a significant 40-50 percent drop in the prices of feed corn and feed wheat. At the same time, sales were increased, so compared to the first half of the 2022-2023 business year, almost 66 tons more, almost 275 thousand tons, were distributed. Their business branch, which distributes grains and oilseeds, traded 532,249 tons in the first half of the previous business year, and 622,151 tons in the last one, outside the group.

Founded in 1996, UBM is one of Hungary’s largest feed raw material traders and market-leading feed manufacturers, and operates a total of 6 feed factories in Hungary, Slovakia and Romania – read the announcement. The company closed its business year from July 1, 2022 to June 30, 2023 with a taxed result of HUF 913.1 million, previously they closed with a profit of HUF 2.8 billion. MTI