Linas Agro Group
AB Linas Agro Group performance and financial results for the three months of 2019/20
Sales volume in tons reached 438 thousand tons of various products and was 7% more as compared to previous year.
Consolidated revenue totaled EUR 149 million and was 4% less as compared to previous year.
The gross profit reached EUR 10.5 million and was 15% lower than a year before. Consolidated EBITDA was 33% lower and amounted to EUR 4.8 million. The operating profit was EUR 1.4 million or 69% lower.
Profit before taxes amounted to EUR 0.9 million against EUR 3.8 million in previous year. The net profit attributable to the Company stood at EUR 0.6 million as compared to EUR 3.3 million in previous year.
Performance of the different businesses:
The Group's core business, grain, oilseeds and feedstuff sales, saw a year-on-year decrease of 5.5% due to lower sales of feedstuffs, and the operating profit was 69% lower.
Sales of goods and services to farmers decreased by 4%, including shrunken sales of fertilizers, seeds and plant protection products, while sales of agricultural machinery increased. The operating profit gained from these activities was 49% lower.
Group-owned agricultural companies grew 8% more crop production than in 2018, their total revenue went up 18.5%, but EUR 0.8 million operating loss was sustained.
Poultry and poultry product sales remained unchanged, while operating profit fell by 15%.
The person authorized to provide additional information:
Mob. +3708 682 366 16
AB Linas Agro Group Consolidated unaudited Financial Statements and Interim Activity Report for the three months period ended 30 September 2019, also Confirmation of the Responsible Persons.