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20%  @ 70000SUM STQC

JSC “BIOKIMYO”

Production Modernization-In December 2014 company acquired new equipment that allows increasing production rate to 6.0 thousand decalitres per day, developed and equipped by Italian "FRILLI".

Description-JSC “Biokimyo” was established in 1958 with headquarters in Yangiyol, Tashkent Region, Uzbekistan. JSC “Biokimyo” produces and sells rectified ethyl alcohol, denatured alcohol for medical uses. The company also produces and sells related products such as: liquid grain stillage, fermentation gases, fusel oils, chemically purified water and grain waste.

Growth of financial indicators-Average growth rate of revenue is 37% year over year for 2014-2020 period. Such growth rate is stemmed from modernization of production line by acquiring new equipment that company bought in 2014. In 2020 revenue was up to 191.6 bln. sums that is 39% higher than in the previous year. Company also was one of few companies who benefited from pandemic and lockdown because of high demand for spirits. Average growth rate of net income is 64% during the same 2014-2020 period. Average growth rate of net income is higher than average growth rate of revenue that means that the company does a great job in optimizing expenses and making higher margins. Profit margins are increasing yearly, in 2014 profit margin was 4.7%, in 2020 it is 12.2%.

FINANCIALS

SHAREHOLDERS-State Asset Management Agency is now a holder of controlling 51% stake in the company. Different legal entities own 17.21% of the company and the rest 31.79% owned by individuals. Considering widely spread privatization in Uzbekistan controlling stake probably will be on sale.

UNAUDITED

Divident Policy-Company has a remarkably stable dividend policy. In 2019 company paid out 85% of net income as dividends. On average company pays out 45% of net income as dividends

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