The total consolidated Agrowill Group AB, Group’s revenue for the three quarters of 2013 was LTL 50,148 million (EUR 14,524 million), an increase by 15 per cent over the total revenue of LTL 43,374 million (EUR 12,562 million) for the same period of 2012.
EBITDA for the three quarters of 2013 decreased by 56 per cent to LTL 7,970 million (EUR 2,308 million), as compared to LTL 18,370 million (EUR 5,320 million) in the same period of 2012.
The gross profitability of the Group for the 9 month period ended September 30, 2013 was circa 7 percentage points lower compared to the corresponding period of 2012. The main cause of this development was the decrease in crop sales profitability due to appr. 20-30 percent lower grain prices and higher costs of inputs. The Group’s gross profitability was further decreased by the decrease in EU and state subsidies by almost LTL 1,5 million (EUR 0,434 million) due to applied modulation.
However, the gross profitability of milk sales increased by over 17 per cent owing to higher milk prices, improved production efficiency and successful cow herd expansion.
The consolidated unaudited report for Q3 2013 and confirmation of responsible persons are attached.
Chairman of the Board
tel. +370 610 31807
Agrowill Group AB