The income of Linas Agro Group, AB, one of the biggest groups of companies engaged in the agricultural business in the Baltic countries, stood at LTL 554.35 million in the first six months of the financial year while the net profit was LTL 25.7 million. According to the unaudited data, the net profit of the company, the financial year of which starts on the 1st of July, grew by 30% in July-December 2009 as compared to the corresponding period in 2008 when it stood at LTL 19.8 million. Unaudited Linas Agro Group, AB, sales income totalled to LTL 554.35 million in the first six months of the financial year of 2009/2010 and were by 26% lower as compared to the corresponding period in 2008/2009 (LTL 749.79 million). The company's profit before interest, taxes, depreciation and amortization (EBITDA) stood at LTL 38 million and was by 5% higher as compared to the same period last year. In the first half of 2009/2010 financial year the company increased volumes of sold production: 818 thousand tons were sold in July-December 2009, which was by 6% more as compared to 2008. Sales volumes grew in all main company's markets that include Western Europe, Scandinavian countries, Lithuania and Asian countries. “The rise in the company's profit was determined by higher sales volumes as well as lower interest expenditure; meanwhile the income was influenced by lower grain prices on Lithuania's as well as worldwide markets since 59% of income were received from the trade of grain and oilseeds, “ - Linas Agro Group, AB Finance Director Tomas Tumėnas says. According to the preliminary data of the Department of Statistics, grain purchase prices decreased by 38.9% in 2009. At the moment, Linas Agro Group, AB is launching the initial public offering, during which investors will be offered over 55.6 million of the company's shares i.e. 35% of the authorised capital of the company. The raised capital will be deployed for further development and increase of export volumes of Linas Agro Group, AB. The initial public offering takes place from the 25th of January till the 5th of February. The price range of the offer varies from LTL 2.05 to LTL 2.53 per share. Trading of the shares of Linas Agro Group on the stock exchange is planned to commence on the 17th of February. The initial public offering takes place in Lithuania and Estonia, the shares are also offered to institutional investors in the Baltic States, Nordic countries, Western Europe, UK and US. Swedbank is the lead manager and book-runner of the initial public offering of the shares of Linas Agro Group. About Linas Agro Group, AB Linas Agro Group, AB is a group of Lithuanian capital companies engaged in international agricultural business, production and trade in agricultural produce and raw materials. It controls companies in Lithuania, Latvia and Denmark. The Group consists of the following companies: Linas Agro, AB, a Lithuanian company engaged in international trade in agricultural plant produce; Linas Agro, UAB controlling grain storages; Grūdų centras, KŪB (controlling grain storages in Kėdainiai, Kupiškis, Joniškis, Šiauliai and Vilkaviškis), grain trade company in Latvia - Linas Agro, SIA; international trade company in Denmark - Rosenkrantz A/S; Landvesta, ŽŪB, a group of companies controlling agricultural land; and Linas Agro Konsultacijos, UAB controlling agricultural companies. Financial year of the companies starts on the 1st of July. According to the data of the financial year of 2008-2009, the company receives 55% of income from the trade of grain as well as oilseeds while 29% of income is gained from the trade of feed raw materials. More information: Tomas Tumėnas Linas Agro, AB Finance Director Mob. +370 682 36616 Email t.tumenas@linasagro.lt
Profit of Linas Agro Group, AB, entering the stock exchange - LTL 25.7 million, higher by 30%
| Source: Nasdaq Vilnius