|
||||||||||||||||||||||||||||||||||||
2024-09-04 08:52:31 CEST 2024-09-04 08:52:31 CEST REGULATED INFORMATION AUGA group - Notification on material eventCorrection to the EBITDA guidance of AUGA group, AB for 2024For the sake of transparency and keeping investors duly informed regarding the predicted financial results for 2024, on 7 December 2023, AUGA group, AB, and its subsidiaries (hereinafter – the Group) published preliminary EBITDA guidance for 2024 along with the key assumptions used to forecast gross profit by segment and the Group's overall EBITDA figure. Given that the first half of 2024 has now passed and that the Group has published actual financial results for that period and notes the trends in the financial results for July and August 2024, updated EBITDA guidance for 2024 is now being published together with the underlying assumptions:
The EBITDA guidance for dairy, mushroom growing, and FMCG segments published in 7 December 2023, is relevant and unchanged. "The 2024 EBITDA guidance for the more predictable segments, such as dairy, mushroom growing, and FMCG segments, remains relevant. The biggest change is in the crop growing segment due to a smaller-than-expected harvest, higher production costs, and lower raw product prices. Additionally, the Group's new activity of biomethane production has faced challenges due to uncertainty in the green certificate market in Germany. Thus, we are downgrading the result of forecast for this segment until there is more clarity in the market. On the other hand, due to the successful implementation of efficiency and cost-reduction programmes, the Group's operating costs are expected to be cut down by an additional EUR 1.6 million more than planned. Already at the start of this year, we also announced a review of the efficiency of our economic units, which significantly impact the results of the crop growing segment. Based on those assessments, we decided to reduce the number of unprofitable agricultural land areas. Thus they will no longer negatively affect next year's results and the need for working capital will be less," says Kęstutis Juščius, Chair of the Board of AUGA group, AB. Explanations are given below for the segments where the forecasted 2024 gross profit differs from the guidance announced on 7 December 2023. Reasons for the changes in the gross profit forecast for the crop growing segment:
In 2024, the Group conducted a review of the economic units in its agricultural operations. As a result, the Group decided as of 30 September 2024 to discontinue operations in the Mažeikiai region where 3,300 ha were cultivated. Other changes to the 2024 EBITDA guidance:
Contacts: *IMPORTANT NOTICE The information is neither audited nor reviewed by independent third parties and should be considered as preliminary and potentially subject to change. This information may also contain certain forward-looking statements, including but not limited to, the statements and expectations regarding anticipated financial and operational performance. These statements are based on the management's current views, expectations, assumptions, and information as of the date of this information announcement as well as the information that was accessible to management at that time. Statements herein, other than statements of historical fact, regarding AUGA group’s, AB future results of operations, financials, business strategy, plans and future objectives are forward-looking statements. Words such as “forecast”, “expect”, “intend”, “plan”, “will”, “may”, “should”, “continue”, “predict” or variations of these words, as well as other statements regarding matters that are not a historical fact or regarding future events or prospects, constitute forward-looking statements. AUGA group, AB bases forward-looking statements on its current views, which involve a number of risks and uncertainties, which may be beyond AUGA group’s, AB control or difficult to predict and could cause the actual results to differ materially from those predicted and from the past performance of AUGA group, AB. The estimates and projections reflected in the forward-looking statements may prove incorrect and the actual results may materially differ due to a variety of factors, including, but not limited to, legislation and regulatory factors, geopolitical tensions, economic environment and industry development, commodities and markets factors, environmental factors, finance-related risks as well as expansion and operation of generation assets. Therefore, you should not rely on these forward-looking statements. No responsibility or liability will be accepted by AUGA group, AB its affiliates, officers, employees, or agents for any loss or damage resulting from the use of forward-looking statements in this document. Unless required by the applicable law, AUGA group, AB is under no duty and undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. |
||||||||||||||||||||||||||||||||||||
|