AUGA group, AB (code 126264360, address: Konstitucijos Ave. 21C, Vilnius) is
providing unaudited financial information for the 12 months ending on December
31, 2017, along with the confirmation of responsible persons (attached).
AUGA group, AB revenues for the 12 months of 2017 were EUR 48.78 million, a 23%
increase, compared to EUR 39.63 million during the same period of 2016.
The group earned EUR 15.25 million in consolidated gross profit, a 41%
increase, compared to EUR 10.77 million during the same period last year.
The largest increases impacting consolidated gross profit in 2017 came from
crop growing, mainly due to significantly higher crop yields, as well as higher
trade prices for organic produce. The dairy cows business also experienced
improvements driven by the increased prices of raw milk. In 2017, the results
of mushroom growing decreased compared to 2016, due to issues in the production
processes during Q1 of 2017, which had a temporary negative impact on yields.
In 2017, operational expenditures of AUGA group, AB totalled to EUR 8.99
million, a 28% increase, compared to EUR 7.01 million in 2016. Operational
expenditures grew due to increased number of employees as a result of business
expansion, as well as other expenses related to new acquisitions. Additional
expenses included AUGA brand and end-consumer product development, marketing
investments and export initiatives.
AUGA group's consolidated EBITDA increased by 36%, reaching EUR 13.10 million
in 2017, compared to EUR 9.62 million in 2016.
The group's 2017 consolidated net profit reached EUR 4.74 million, more than
double the net profit of 2016 at EUR 2.15 million.
"The improvement of financial results was mainly driven by the fact that the
harvest of 2017 was certified as organic and traded at higher prices. Due to
the implementation of technologies and innovations, we increased the yields of
the main crops harvested in summer. Nevertheless, heavy rains damaged the
yields of buckwheat, soy, corn, sugar beets and other late harvest crops. The
company estimates that damage amounts to EUR 2 million in losses"- says Linas
Bulzgys, CEO of AUGA group, AB.
In 2017, the group's companies harvested crops from 27 thousand ha of land. In
2018, after completing the acquisition of UAB KTG Agrar in the beginning of
2017 and the integration of UAB Raseiniu Agra, acquired on February 26, 2018,
AUGA expects to harvest crops from 38 thousand ha of land.
Attached:
1. Confirmation of responsible persons.
2. Consolidated unaudited financial statements for the 12 months ending on
December 31, 2017.
CEO
Linas Bulzgys
+370 5 233 5340
Attachment:
https://cns.omxgroup.com/cds/DisclosureAttachmentServlet?messageAttachmentId=666545© 2018 GlobeNewswire
