Ukraine's AgroGeneration suspends results release after Russian drone strike destroys documents

AgroGeneration Delays Results After Drone Strike Destroys Documents

By Gianluca Lo Nostro

Dec 8 (Reuters) - Cereals and oilseeds producer AgroGeneration said on Monday it will not be able to publish its first-half financial results after Russian attacks partially destroyed accounting documents at one of its Ukrainian storage and administrative sites.

AgroGeneration said a drone strike on April 28 partially destroyed the main accounting documents for all its Ukrainian farms.

Stock exchange operator Euronext will transfer AgroGeneration's Paris-listed shares to its Penalty Bench until the company publishes its audited 2025 annual report by April 30, 2026, AgroGeneration said in a statement.

If the firm fails to meet this deadline, trading will be suspended from May 2026.

Companies on the Penalty Bench are flagged as non-compliant although their shares can still be traded. Under Euronext rules, AgroGeneration had been due to report first-half results within four months after the end of its second quarter in October.

Its failure to do so marks the latest blow to the company, which operates about 30,000 hectares in Ukraine's eastern Kharkiv region near the Russian border.

AgroGeneration, headquartered in Paris but majority-owned by Ukrainian agricultural group NovaAgro, lost nearly half its assets in 2022 due to destruction, temporary occupation and land contamination by mines, forcing a restructuring.

While the company avoided direct damage in 2023-2024, two separate Russian drone attacks hit production assets in the first half of 2025, it said.

AgroGeneration's share price has fallen 50% since the start of the war between Russia and Ukraine.

The company is expected to release an update on the 2025 harvest, still ongoing, on December 23.

(Reporting by Gianluca Lo Nostro; Additional reporting by Clement Martinot; Editing by Louise Heavens and Susan Fenton)