Full Year Interim Report for the financial year 2011 Alpcot Agro reaches an operating result of SEK -2 million before depreciation for the period, compared to SEK -112 million in 2010. The Company’s total revenue from sales, gain from valuation of biological assets and grants amount to SEK 290 million, an increase by 21 percent compared to 2010. The interim report for Alpcot Agro AB (publ) (“the Company”) for the financial year 2011 has been approved by the Board of Directors and is available on the Company’s website www.alpcotagro.com. Financial highlights for the period (Numbers within brackets refer to the period 1 January 2010 – 31 December 2010 unless otherwise stated) · The Company’s total revenue from sales, gain from valuation of biological assets and grants in 2011 amount to SEK 290 million (239 million), an increase of 21 percent. · The operating result before depreciation (EBITDA) for 2011 amounted to SEK –2 million (–112 million), · The operating result amounted to SEK -79 million (-176 million) and the result after financial items and tax for 2011 was SEK –98 million (–169 million). · Cash and cash equivalents as of 31 December 2011 was SEK 64 million (66 million). · The loss per share for 2011 equalled SEK – 1.15 (–3.52). Equity per share as of 31 December 2011 was SEK 11.09 (19.17). · The Board proposes that no dividend be paid for the financial year 2011. Important events after the end of the reporting period · On 27 January 2012 the Company acquired the AIM quoted company Landkom International Plc through an issue in kind. In conjunction with the acquisition, the Company made a directed share issue which raised TSEK 138,400 before issue costs. The purpose of the issue was to finance the acquisition and the integration of Landkom into the Group. · The Board has earlier announced its intention to seek a listing of Alpcot Agros’ shares on the London Stock Exchange main market. The Board has concluded that the issue to seek such a listing will be raised in 2013. Jens Peter Aabyen, Managing Director, comments “Although the company is not reporting a positive operating result for 2011, we see positive signs of an approaching turnaround to profitability. With the acquisition of Landkom a new Alpcot Agro group is taking form with a different scale and geographic balance, indicating the beginning of an exciting phase in the company’s development.” Stockholm, 30 March 2012 For additional comments, please contact: Jens Peter Aabyen, Managing Director, tel +7 903 779 23 36 The preliminary reporting calendar for 2012 is 25 April 2012 Annual Report 2011 16 May 2012 Annual General Meeting 2012 in Stockholm 31 August 2012 Interim Report January–June 2012 The audited Annual Report 2011 will be published on the Company’s webpage www.alpcotagro.com at least three weeks before the Annual General Meeting, made available at the Company’s offices as well as sent to shareholders who so request.
Full Year Interim Report for the financial year 2011
| Source: Alpcot Agro AB