USA financial news

AUGA group, AB interim monetary outcomes for

Correction: the gross sales income and gross revenue knowledge of the crop rising section have been corrected. Different monetary knowledge of the group printed on November 30, 2022 stay unchanged. The correction was made in each languages. 

AUGA group, AB and its subsidiaries (hereinafter – the Group) improved their working leads to the primary 9 months of the 12 months.  

The gross sales income through the first 9 months of 2022 was EUR 57.71 million, a rise of 5% in comparison with EUR 54.90 million in the identical interval final 12 months.  

Within the first 9 months of 2022, the Group’s gross revenue was EUR 13.14 million, representing a rise of 673% in comparison with the earlier 12 months (EUR 1.70 million). The Group’s internet loss from EUR 10.43 million fastened within the three quarters of 2021, decreased to EUR 0.62 million in three quarters of 2022.  

The Group‘s EBITDA for the primary 9 months of 2022 elevated by 208% to EUR 16.78 million in comparison with EUR 5.45 million in the identical interval of 2021.  

“Higher monetary outcomes had been decided by the nice harvest of 2022 and elevated manufacturing costs. Nonetheless, we have now been challenged by risky vitality costs like the remainder of the world. The Group’s vitality and gasoline prices elevated by round 6.3 million EUR in 2022 in comparison with the earlier 12 months. For these causes, the exercise of mushroom rising suffered essentially the most within the third quarter of this 12 months. You will need to observe that after years of lively work growing of agricultural applied sciences, we’re lastly near seeing the primary outcomes. This 12 months we are going to full a primary batch of tractors powered by biomethane and electrical energy and a primary biomethane plant will begin working at the start of 2023. Future biomethane manufacturing capability will enable us to totally meet our personal wants and commercialise a a few of it,” stated Kęstutis Juščius, CEO of AUGA group, AB.  

Crop rising section 

Good monetary outcomes of the section had been achieved as a result of higher harvest of the 2022 season (in comparison with 2021) and elevated manufacturing costs. Throughout three quarters of 2022, gross sales income of the crop rising section elevated by 2% year-on-year to EUR 18.71 million, in comparison with EUR 18.41 million in the identical quarter of 2021. 

In three quarters of 2022, the gross revenue within the crop section, which incorporates gross sales of agricultural merchandise, modifications within the honest worth of organic property and agricultural subsidies, was EUR 11.96 million. In the identical interval of 2021, a gross lack of EUR 0.50 million was recorded.  

Dairy section 

Gross sales within the dairy section within the third quarter of 2022 had been considerably higher than in the identical interval final 12 months. Gross sales revenues within the first three quarters of 2022 amounted to EUR 12.32 million, in comparison with EUR 10.16 million in the identical interval of 2021. The improved outcome is because of increased product costs.  

The gross revenue within the section elevated to EUR 1.67 million within the first three quarters of 2022, which is 882% increased than the gross revenue of EUR 0.17 million in the identical interval final 12 months.  

Mushroom rising section  

Gross sales revenues within the mushroom rising section within the first three quarters of 2022 amounted to EUR 21.17 million, a lower of 1%, in comparison with the identical interval final 12 months. 

Within the first 9 months of the 12 months, the section’s vitality prices elevated by EUR 1.78 million year-on-year. The largest distinction in vitality prices was seen within the third quarter. This was largely accountable for the section’s loss for the primary 9 months of 2022, which amounted to EUR 1.51 million. 

Quick-moving client items (FMCG) section 

Whereas international occasions and market volatility affected the section’s efficiency within the first half of the 12 months, the third quarter of the 12 months noticed constructive developments.  

General, the section’s gross sales within the first three quarters of 2022 totalled EUR 5.50 million and grew 13% in comparison with the identical interval final 12 months. A big a part of this 12 months’s gross sales to the USA, the Group’s most essential and largest market, will happen over the last two quarters of the 2022. In 2022, the gross sales of the third quarter reached EUR 2.78 million and had been 21% increased in comparison with the identical interval final 12 months. 

Working prices  

The Group’s working bills through the 9 months of 2022 amounted to EUR 9.25 million in comparison with EUR 8.22 million in the identical interval final 12 months.  

Technology improvement 

In 2022, the Group plans to ship the primary batch of tractors powered by biomethane and electrical energy, which is able to begin working within the fields within the spring of 2023 already. At the start of 2023, work on the infrastructure will likely be accomplished and biomethane manufacturing will begin. The Group is continuous work to develop specialised feed know-how to cut back methane emissions from cattle throughout digestion. 

Monetary data in MS Excel format 

To facilitate buyers’ entry to and evaluation of the Group’s monetary knowledge, the Group has ready and makes publicly obtainable on its web site historic monetary knowledge, together with knowledge for the latest reporting interval, in MS Excel format. The information may be accessed on the following hyperlink: https://auga.lt/en/buyers/reports-and-presentations1/quarterly-and-annual-reports/  

For additional info: 

Mindaugas Ambrasas, CFO, AUGA group, AB 

Mob. +370 620 67296 

E-mail: m.ambrasas@auga.lt 

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