On 27 October 2023 the Annual General Meeting of Shareholders of AB Linas Agro Group accredited Financial Statements and Remuneration Report, and took observe of the Consolidated Annual Report and Independent Auditor’s Report for the monetary 12 months ended 30 June 2023.
During the monetary 12 months 2022/2023, the subsidiaries of AB Linas Agro Group (Group) bought 3.7 million tons of manufacturing, or an identical quantity because the earlier 12 months. Consolidated Group’s income grew almost 6% and was near EUR 2 billion. Consolidated earnings earlier than curiosity, taxes, depreciation, and amortization (EBITDA) decreased by 49% to EUR 67 million. The Group’s web revenue decreased by 73% to EUR 21 million.
|
|
2021/2022 |
2022/2023 |
Change 2022/2023 in comparison with |
|
Sales in tons |
3,689,585 |
3,662,093 |
-0.7% |
|
Sales income, TEUR |
1,895,667 |
1,999,617 |
5.5% |
|
Gross revenue, TEUR |
188,859 |
137,969 |
-27% |
|
EBITDA, TEUR |
132,173 |
67,318 |
-49% |
|
Operating revenue (loss), TEUR |
103,619 |
41,492 |
-48% |
|
Profit earlier than tax, TEUR |
90,841 |
25,760 |
-72% |
|
Net revenue (loss), TEUR |
77,257 |
20,817 |
-73% |
Performance of business segments:
|
EUR million |
2021/2022 |
2022/2023 |
||
|
|
Revenue |
Operating revenue |
Revenue |
Operating revenue |
|
Grain, Oilseeds, and Feed |
1,183 |
51.3 |
1,216 |
16.2 |
|
Products and Services for Farming |
384 |
45.3 |
416 |
10.8 |
|
Agricultural Production |
39 |
15.1 |
50 |
12.5 |
|
Food Products |
347 |
-1.8 |
416 |
7.9 |
|
Other Activities |
36 |
-2.0 |
22 |
0.5 |
The Group bought 2.1 million tons of grains and oilseeds through the 12 months, the identical as final 12 months. Sales of compound feed, premixes, and uncooked supplies for feed had been 841 thousand tons, 2% lower than the earlier 12 months. The whole income of the Grain, Oilseeds, and Feed Segment grew by 3% to EUR 1.2 billion, whereas the working revenue decreased by 68% to EUR 16.2 million.
The Group’s Products and Services to Farmers business grew 8% to EUR 416 million, whereas working revenue fell by 76% to EUR 11 million. Sales of seeds, plant care merchandise, and fertilizers grew by 6% to almost EUR 308 million. Revenues from the sale and rental of agricultural equipment, provide of spare components and servicing elevated by 20% to EUR 98 million. Income from grain storage and livestock farm set up initiatives contracted by 15% to EUR 10 million.
The Group’s agricultural corporations’ income grew by 28% through the interval below assessment and exceeded EUR 50 million. Operating revenue decreased by 17% to EUR 12.5 million.
The Food Segment, which incorporates the poultry and flour-related businesses, grew by 20% to EUR 416 million within the interval below assessment. Operating revenue was EUR 7.9 million, in comparison with a lack of EUR 1.8 million in the identical interval final 12 months.
The Group’s Other Activities embody offering pest management and hygiene services and products, manufacturing and promoting pet meals, wholesale and retailing veterinary items, and different actions not included within the different Segments. The phase’s whole income contracted by 40% to EUR 22 million, with an working revenue of EUR 0.5 million, in comparison with a lack of EUR 2 million the earlier 12 months.
AB Linas Agro Group owns the biggest group of agricultural and meals manufacturing corporations within the Baltic States, using 5 thousand folks. The Group operates alongside the whole meals manufacturing chain from area to fork, producing, processing, and advertising agricultural and meals merchandise, and offering items and companies to farmers. In July, the Group acquired a contemporary robotic plant in Širvintos (Lithuania) from AUGA group, AB, which is lively within the manufacturing and sale of ready-to-eat meals merchandise; its principal merchandise are natural soups, curries, cereal dishes, and natural canned greens in packages- about 70 product names.
Please contact for additional info:
Mažvydas Šileika, Finance Director of AB Linas Agro Group
Mob. +370 619 19 403
E-mail [email protected]
Attachments:
The Company’s set of Annual Financial Statements and Annual Report with Sustainability and Remuneration Reports
Independent Auditor’s Report
Attachments
