On 5 October 2018, Economic Court of the city of Kyiv opened the legal proceedings against PE “Ros”, the Ukrainian subsidiary of the Milkiland Group, according to the claim from Raiffeisen Bank International AG, acting as Security Agent under the Facilities Agreement with a Syndicate of international banks formed by Raiffeisen Bank International AG, UniCredit Bank Austria AG and ZAO Raiffeisen Bank (all together “the Lenders”), dated 12 September 2012.
Milkiland Group has published the Interim Financial Statement with the results in H1 2018.
Milkiland Ukraine with the support of Milkiland Intermarket, both the subsidiaries of
Milkiland Group, has concluded the first contract and started supplies of butter
produced by the Group’s Ukrainian facilities to the consumer in PRC.
In first quarter of the year 2018, Milkiland Group delivered the positive financial result of the business, both at EBITDA and Net profit levels.
After 2017, Milkiland’s management are now more confident to state that the Group is successfully withstanding challenges put to its business back in 2014, when Ukraine-Russia conflict instantly deprived us the key export market of Russia and depressed our financials, thus generating the significant losses.