Panevezys, Lithuania, 2014-08-29 08:30 CEST (GLOBE NEWSWIRE) --
Revenue of AB Linas Agro Group amounted to LTL 2,019 billion, gross profit – LTL 150 million
Consolidated revenue of AB Linas Agro Group totaled LTL 2,019 million during twelve months of 2013/2014 financial year and was almost the same as compared to previous year (LTL 2,043 million). Revenue for the fourth quarter totaled LTL 439 million and grew 14% as compared to previous year (LTL 385 million).
The Group’s sales volume in tons reached a record amount or 2.3 million tons of various grains, agricultural inputs and other products and was 32% more as compared to previous year (1.7 million tons).
AB Linas Agro Group consolidated gross profit amounted to LTL 150 million compared to LTL 158 million in previous year and gross profit margin remained almost the same or 7.4%. The gross profit of the fourth quarter grew up 48% from LTL 35 million to LTL 52 million as compared to the respective period of the previous year.
Consolidated Group’s EBITDA decreased from LTL 127 million to LTL 123 million as compared to previous year. EBITDA for the fourth quarter was LTL 48 million and accelerated by almost 4 times as compared to LTL 10 million in previous year.
The Group’s operating profit reached LTL 94 million and was 9.7% less as compared to the respective period of the previous year (LTL 104 million) and the net profit before tax amounted to LTL 87 million as compared to LTL 101 million previous year. The net profit attributable to the Group reached LTL 76 million (LTL 90 million previous year).
During the respective period AB Linas Agro Group acquired Latvian poultry companies AS Putnu fabrika Kekava, SIA Broileks, SIA Cerova and SIA Lielzeltini, farming company Panevėžys district Žibartonių ŽŪB, also sold accumulation of raw lignin sold together with one of its operators.
“Our recent results prove that AB Linas Agro Group’s business strategy and investments are on the right track. The Group continuously increases its sales volumes, successfully diversifies its activities by acquiring profitable and related to its core activity companies and remains the leader of agribusiness in the Baltics”, - state Tomas Tumenas, finance director of AB Linas Agro Group.
About AB Linas Agro Group
AB Linas Agro Group is an agribusiness parent company engaged in the production and trade of grains, oilseeds, feedstuff, poultry and poultry products, also agricultural inputs. It controls companies in Lithuania, Latvia, Estonia and Denmark. The group consists of international agricultural production trading company in Lithuania AB Linas Agro, grain storage company UAB Linas Agro Grūdų centras KŪB (controlling 7 grain storages), Latvian trading company SIA Linas Agro, international trading company Linas Agro A/S in Denmark, group of companies ŽŪB Landvesta, managing agricultural land, holding of agricultural companies UAB Linas Agro Konsultacijos, agricultural inputs supplier UAB Dotnuvos Projektai, logistic company UAB Jungtinė Ekspedicija, poultry companies AS Putnu Fabrika Kekava and SIA Lielzeltini, also other companies. The financial year of the Group begins on 1 July.
From 17 February 2010 AB Linas Agro Group is included in the main list of companies of NASDAQ OMX Vilnius stock exchange.
Finance director of AB Linas Agro Group
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