MIMIER TRADE SA announced 2018 preliminary results, showing a strong trading performance
MIMIER TRADE SA (Switzerland), a fast-developing commodities trading company, announced another year of strong trading performance and business developments.
According to preliminary financial results, revenue of the company in 2018 reached USD 140 mln - almost doubled in comparison with revenue for 2017 (USD 75 mln). Operating profit for 2018 is expected at the level of USD 3.2 mln that makes approximately 2.4% of EBITDA margin.
Such a rise in trading volumes was supported by increase of share capital of the company and additional financing received. «In 2018 registered share capital of MIMIER TRADE SA increased 35 times - from CHF 0.1 mln up to CHF 3.5 mln. Retained earnings of almost USD 4.5 mln increased Total Equity of the company up to USD 8.0 mln», commented Max Kyrychenko, Finance & Business Development Director of MIMIER TRADE SA.
Revenue of MIMIER TRADE SA is steadily growing since 2016. The main activity of the company remains soft commodities and petrochemical trading. The robust global economy drove strong growth in demand for all the commodities that the company trades and a tightening supply-demand balance pushed prices of many products higher. However, the vegetable oil and refined product markets were still characterised for much of the year by oversupply and relatively low volatility, reducing margins and arbitrage trading opportunities. Petrochemical trading had steadier trend and MIMIER TRADE SA increased its share in revenue from 9% in 2017 up to 56% in 2018.
In 2019, MIMIER TRADE SA plans to increase sales of all its main agro commodities groups – particularly high oleic sunflower seeds oil, sunflower meal and soybean oil. In addition to main markets of the company EU and South-East Asia the company actively develop its sales to Russia and Belarus. Main commodities in petrochemical trading remain gas oil, naphtha, butane and LPG.
The start of 2019 was very promising for MIMIER TRADE SA, last week MIMIER TRADE SA has shipped first bulk vessel 4000 MT high oleic sunflower seeds oil to its customer in Italy. The loading was executed within 24 hours and delivery is expected in a week. Further sales are already booked for February-June 2019.
"According to business plan for 2019-2020 MIMIER TRADE SA is going to further increase of sales volumes up to USD 250 mln. The company is actively developing its relationships with trade finance banks and funds. Additional increase of share capital and subordinated loan from shareholder is also planned", said Iaroslav Gordiienko, General Director of MIMIER TRADE SA.
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