Revenue of AB Linas Agro Group for H1 of FY 2019/2020 went down, but the net profit was up
Consolidated revenue of AB Linas Agro Group totaled EUR 317 million and was 3.6% less as compared to previous year.
Sales volume in tons reached 1,109 thousand tons of various products and was 10.5% more as compared to previous year.
The gross profit reached EUR 19.8 million and was 3.3% lower than a year before. Consolidated EBITDA was 14 % higher and amounted to EUR 9.2 million. The operating profit was EUR 3 million or 9.5% higher.
Profit before taxes amounted to EUR 1.7 million against EUR 1.5 million in previous year. The net profit attributable to the Company stood at EUR 1.5 million as compared to EUR 1.1 million in previous year.
Performance of the different businesses:
Grain, oilseeds and feedstuff sales saw a year-on-year decrease of 3% due to lower sales of feedstuffs, and the operating profit was 38% lower.
Sales of goods and services to farmers decreased by 5%, including shrunken sales of fertilizers, seeds, new agricultural machinery and equipment for grain elevators, and increased sales of plant care products, micronutrients and used machinery. The operating profit gained from these activities was 93% higher.
Group-owned agricultural companies harvested 7.5% more crop production than a year before, their total revenue went up 3%, but EUR 1 million operating loss was sustained.
Poultry and poultry product sales went down 3%, while operating profit went up 77%.
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AB Linas Agro Group Consolidated unaudited Financial Statements and Interim Activity Report for H1 of FY 2019/2020 that ended 31 December 2019.