Consolidated revenue of AB Linas Agro Group grew by 7% in the first half of 2014/15 financial year.
Consolidated revenue of AB Linas Agro Group in the first half of 2014/15 financial year totaled LTL 1,072 million and grew by 7% as compared to previous year (LTL 1,002 million).
The Group’s sales volume in tons reached 1,166 thousand tons of various grains, agricultural inputs and other products and was 24% more as compared to previous year (944 thousand tons).
The Group’s gross profit reached LTL 58 million and remained almost the same as compared to the respective period of the previous year (LTL 57 million). Consolidated EBITDA declined to LTL 30 million from LTL 50 million last year.
The Group’s operating profit reached LTL 13 million or was 68% less as compared to the respective period of the previous year (LTL 41 million). Excluding one-off effects on Group’s profit-loss statement of 2013/14 financial year, operating profit remained almost the same or LTL 12.9 million as compared to LTL 12.8 million a year ago.
Profit before taxes amounted to LTL 9 million (compared to LTL 38 million previous year). The net profit attributable to the Group reached LTL 6 million (LTL 28 million previous year).
Despite decline in world grain and oilseed prices, sales revenue gained from trading these products grew up from LTL 717 million to LTL 771 million and operating profit amounted to LTL 9 million (LTL 8 million in 2013/14 financial year). Revenue growth was driven by growth of grain sales from 528 thousand to 706 thousand tons. Growth in feedstuffs also has been recorded where has been traded 238 thousand tons as compared to 201 thousand in 2013/14 financial year.
Grain storage facilities owned by the Group processed 466 thousand tons of various grains or 20% more as compared to the respective period of 2013/14 financial year (387 thousand tons).
Group’s sales of agricultural machinery and equipment for grain elevators dropped from LTL 99 million to LTL 54 million.
Due to decreased prices of grains, sales of fertilizers declined from LTL 117 million to LTL 113 million, while sales of plant protection products and seeds increased from LTL 36 million to LTL 49 million.
Due to decline in grain and milk purchase prices revenue from agricultural production dropped from LTL 52 million to LTL 48 million.
The poultry companies sold almost 19 thousand tons of poultry and various poultry products. Due to favorable price level for feedstuffs and increased efficiency of the companies, the operating results of poultry business was the best if compared to other activities: sale revenue amounted to LTL 105 million and operating profit stood at LTL 9 million. Poultry processing affiliate of SIA Lielzeltini has received an international food safety management system certification ISO 22000:2006, which confirm the consumer-friendliness of the products.