Financial and activity results of AB Linas Agro Group in twelve months of 2017/18 financial year
Consolidated revenue of AB Linas Agro Group in twelve months of 2017/18 financial year totaled EUR 634 million and was 1.7% less as compared to previous year (EUR 645 million).
The main reason that had a negative impact on the revenue was decrease in sales of various grains as those plunged from EUR 317 million to EUR 292 million. Due to diminished sales in fertilizers and chemicals, sales also declined in products and services for farming business but the drop was minor (2.6%). Sales in poultry business accelerated by 13.2% and amounted to EUR 69 million (EUR 61 million in FY 2016/17). Revenue from agricultural production increased by 15.6 % to EUR 31 million due to the growing crop yield and more favorable milk purchase prices.
Sales volume in tons reached 2.2 million of various grains and agricultural inputs and was 6.7% less as compared to previous year (2.4 million tons).The trading volume of traditional crops (wheat, rapeseed, barley) decreased by 11% from 1.7 million tons to 1.5 million tons. The market prices for feedstuff increased, resulting in sales revenue rise from EUR 91 million to EUR 97 million, although sales volume in tons have decreased from 300 thousand tons to 295 thousand tons.
Revenue, gained from sales of fertilizers and plant protection products, was 10% less and close to EUR 62 million. Revenue from seed sales grew 20% up to EUR 29 million.
Revenue from the sale of new agricultural machinery dropped 9% up to EUR 43 million. Sales of the used machinery grew 77% up to EUR 2.1 million. Sales revenue from spare parts went up 14% up to EUR 7 million. Slowly recovering dairy farming raised revenue from sales of dairy farming equipment by 46% up to EUR 0.46 million. Dotnuva Baltic carried out 50 installation projects for the grain complexes, i.e. 25 percent more than in previous year. Revenue from this business gained during the reporting period was almost EUR 21 million or almost doubled from that in previous year (EUR 11 million).
The farming companies produced 105 thousand tons of agricultural produce or 15% more than previous financial year, sold 91 thousand tons of agricultural commodities or 18% more than a year before. Over 30 thousand tons of raw milk have been sold, or 3.8% more than a year before. Meat sales volume was 1,455 tons (1,385 tons a year before).
The poultry companies produced 40.7 thousand tons of live weight or 1% more as compared to previous year. Companies sold over 32 thousand tons of poultry and poultry products or 28% more than a year before. Revenue increased by 13% from EUR 61 million to EUR 69 million.
The gross profit of AB Linas Agro Group reached EUR 44.6 million and was 3.6% lower than a year before (EUR 46.3 million). Consolidated EBITDA was 11% lower and amounted to EUR 20.2 million as compared to the previous year (EUR 22.7 million). Operating profit was EUR 8.8 million or 27% less as compared to the respective period of the previous year (EUR 12.1 million). Profit before taxes amounted to EUR 6.8 million (compared to EUR 10 million in previous year). The net profit attributable to AB Linas Agro Group stood at EUR 7.4 million (EUR 8.3 million in previous year).