Ad hoc-Mitteilungen

3-month sales of AB Linas Agro Group went up 84%, net profit was 199% higher

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During the three months of the financial year, the subsidiaries of AB Linas Agro Group, an owner of agricultural and food industry companies, sold 1.03 million tons of production or 34% more than in the previous year. Consolidated revenue of the Group grew by 84% and amounted to EUR 440 million. Consolidated earnings before interest, taxes, depreciation, and amortization (EBITDA) increased by 157% to EUR 24 million.

The group of companies earned EUR 14 million operating profit or 193% more than in the previous year. Gross profit was EUR 38 million or 185% higher than during the last year. Profit before taxes grew by 187% to EUR 13 million. Net profit increased by 199% to EUR 12 million.

“After acquiring the companies operating under KG Group brand, we expanded our operations in four segments, however the growth in some areas was determined not only by the acquisition, but also by the joint efforts of the team and synergies,” commented Mažvydas Šileika, Chief Financial Officer of AB Linas Agro Group.

Total revenue of the Grain, Oilseeds, and Feed Segment increased by 59% during the reporting period up to EUR 273 million, and operating profit amounted to EUR 3 million and was 11 % lower compared to the previous year. The Group sourced 1.2 million tons of grains and oilseeds, or 29% more than in the same period last year, of which 0.6 million tons were sold, which is 13% more than last year. As much as 208 thousand tons of compound feed, premixes and feed materials were sold, or 89% more.

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