KYIV, Sept 15 – Groups of companies of the Ukrainian agro-industrial complex, which shares are listed on the Warsaw Stock Exchange (WSE), are undervalued relative to global agricultural holdings, mainly due to the good ratio of EBITDA and debt obligations and the ratio of EBITDA and the value of companies from Ukraine.

The data of analyst of the Polish bank mBank Jakub Szkopek were published at the WSE on Tuesday.

"For many years, Ukrainian companies were considered unattractive in terms of debt levels. Now the situation is changing. Astarta is due to pay off its obligations at the end of this year, in the case of Kernel, we expect a debt ratio of 1.3xEBITDA. In this situation companies willingly pay dividends or decide to buy out their own shares," the exchange quoted its data.