Consolidated revenue of the Group in six months of 2016/17 financial year totalled EUR 297 million
Consolidated revenue of the Group in six months of 2016/17 financial year totalled EUR 297 million and was 19% less as compared to previous year (EUR 367 million).
The main reason behind the revenue drop was the decrease in sales of business Segment ‘Grain and Feedstuff Handling and Merchandising ’, which slumped by almost 28%. Due to declined world prices on various grains and lower yields, revenues of another business segments, like ‘Agricultural Production’ and ‘Products and services for Farming’ slightly dropped as well (3.7% and 2.2% accordingly). Revenues of business segment “Food Products” grew slightly by 1.7% and amounted to EUR 30 million.
The gross profit reached EUR 22 million or was 14% lower than a year before (EUR 25 million).
The Group’s operating profit reached almost EUR 3.7 million and was 60% less as compared to the respective period of the previous year (EUR 9.3 million).
The net profit stood at EUR 1.6 million (EUR 7 million in previous year).
The majority of sales, particularly in grain and feedstuff sales, have been postponed till the second half of this financial year, therefore the second half of this financial year is expected be more profitable than the first.
The Group’s sales volume in tons exceeded 1 million tons of various grains and agricultural inputs and was 25% less as compared to previous year (1.4 million tons).
Grain storage facilities owned by the Group processed 430 thousand tons of various grains or 13% less as compared to previous year (493 thousand tons).
The growth in sales of various agricultural machinery and equipment for grain elevators stabilized and remained at last year’s level amounting to EUR 29 million. Gross profit from that activities also unchanged and amounted to EUR 4 million or almost the same as year before.
Sales of various agricultural inputs (fertilizers, seeds and plant protection products) was quite successful- though revenue dropped from EUR 49 million to EUR 46 million, gross profit went up from EUR 3.5 million to EUR 4.4 million.
Agricultural companies harvested over 89 thousand tons of various agricultural commodities or 8% less as compared to previous year. 14.8 thousand tons of raw milk has been sold or 9% less as compared to previous year.
The poultry companies produced over 13 thousand tons of live weight or 8% more as compared to previous year (12 thousand tons of live weight). Companies sold over 14 thousand tons of poultry and poultry products (15 thousand tons a year before).