2013-08-30 08:00:06 CEST

2013-08-30 08:00:10 CEST


REGULATED INFORMATION

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Linas Agro Group AB - Interim information

AB Linas Agro Group notification about interim twelve months financial results of the financial year 2012/2013 


Panevezys, Lithuania, 2013-08-30 08:00 CEST (GLOBE NEWSWIRE) -- AB Linas Agro
Group is presenting interim report and unaudited consolidated financial
statements of the financial year 2012/2013 for 12 months period, ended 30 June
2013. 

Revenue of AB Linas Agro Group grew by 53%, gross profit - by 65%

Consolidated revenues of AB Linas Agro Group during twelve months of financial
year 2012/2013 totaled LTL 2.043 billion and were 53% more as compared to the
corresponding period of the previous year (LTL 1.338 billion). The Group sold
1.78 million tons of various agricultural products and agricultural inputs or
32% more as compared to previous year (1.35 million tons). 

Gross profit was record high and reached LTL 157 million or 65% more compared
to LTL 95 million in fiscal year 2011/2012. 

The Group's operating profit reached LTL 103 million or was by 10% less as
compared to the respective period of the previous financial year (LTL 115
million). In fact operating profit increased 2 times as 2011/2012 financial
year's profit has been boosted by the sale of shares of Ukrainian subsidiary
PJ-SC UKRAGRO NPK for 64 million litas. 

Earnings before interest, taxes, depreciation and amortization (EBITDA)
amounted to LTL 126 million (compared to LTL 127 million in previous year). The
net profit attributable to the Group remained almost unchanged and was LTL 87
million compared to previous year‘s LTL 89 million. 

During the reporting period, AB Linas Agro Group acquired  farming company 
Kėdainiai district Labūnavos ŽŪB, logistics company UAB Jungtinė Ekspedicija,
also the leading seller of agricultural machinery, seeds and grain storage
equipment in Lithuania - UAB Dotnuvos Projektai. 

Group's consolidated operating costs were 63% higher due to acquisitions of
several companies and amounted to LTL 80 million. 

“Our results witness that we are on the right way. Even despite the good grain
harvest in Lithuania, without new grain storage facilities and investments into
them, we would not have been able to sell 1 million tons of grains and oilseeds
- twice more than last year. Our grain storages accepted 556 thousand tons of
various grains, this is 53% increase compared to the last year. Other
investments proved effectiveness as well. UAB Dotnuvos Projektai alone has
increased the income of our Group by LTL 190 million. 

We see the clear growth perspectives in all the fields we work as well as in
the Baltic region. On 16 August we received the permission by the Competition
council to acquire asset management company UAB Žemės Ūkio Investicijos that
owns farming company Panevezys district Žibartoniai ŽŪB, now we are preparing
for the company takeover. We are also expecting permission from the Competition
Council of the Republic of Latvia to acquire the group of Latvian poultry
enterprises this year”, - state Darius Zubas, managing 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 and 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, operator of
lignin biofuel accumulation UAB Lignineko, logistic company UAB Jungtinė
Ekspedicija and other companies. Together with partners, AB Linas Agro Group
owns grain storage company Karčemos Kooperatinė Bendrovė. In July AB Linas Agro
Group has announced its intention to acquire the group of Latvian poultry
companies. 

The financial year of the companies begins on 1 July. The total headcount of
the Group is 1039 employees. 

From 17 February 2010 AB Linas Agro Group is included in the main list of
companies of NASDAQ OMX Vilnius stock exchange. 




         More information:
         Tomas Tumėnas
         Finance director of AB Linas Agro Group
         Mob. +370 682 36 616
         E-mail  t.tumenas@linasagro.lt
         Investor relations specialist Agnė Barauskaitė
         Ph. +370 45 507 346