Agrowill Group - Interim information

Agrowill Group, AB Interim unaudited information for 12 months ended 31 December 2014

Agrowill Group, AB provides the Interim unaudited financial information for the
12 months ended 31 December 2014 and confirmation of the responsible persons
(attached). 

The effect of the merger between Agrowill Group, AB, Baltic Champs, UAB and
eTime invest, UAB is incorporated into the provided Group‘s consolidated
financial statements 

 The total revenue of the Group for the twelve months of 2014 was LTL 114.8
million (EUR 41.9 million). In 2013 Agrowill Group AB collected audited revenue
of LTL 82.6 million (EUR 23.9 million) while Baltic Champs UAB received revenue
of LTL 32.8 million (EUR 9.5 million). 

The profit for the year ended 31 December 2014 amounted to LTL 30.7 million
(EUR 8.9 million). In comparison, Agrowill Group AB had a net loss of LTL 4.7
million (EUR 1.36 million) and Baltic Champs UAB earned a profit of LTL 5.1
million (EUR 1.5 million) for the same period a year ago. 

EBITDA for the twelve months of 2014 was LTL 21.3 million (EUR 6.2 million).
For the same period of 2013 the total audited EBITDA of Agrowill Group AB was
LTL 13.9 million (EUR 4 million). 



The gross profitability of Agrowill Group, AB increased compared to 2013 mostly
due to the profitable growing of mushrooms. Meanwhile, the profitability of
milk sales increased slightly because of higher cow productivity, although in
the second half of 2014 profitability was harmed by the fall in milk prices
caused by the food product embargo from Russia. The profitability of grain
sales in 2014 had decreased from the previous year due to lower grain prices in
global markets persisting during the year. 

Net profit was highly impacted by the write off of negative goodwill in the
amount of LTL 25.86 million (EUR 7.49 million) according to IFRS after the
merger of Agrowill Group AB and Baltic Champs UAB. Net profit also was impacted
by sale of the part of the land plots which haven‘t been used for direct
agricultural activities. 




         Vladas Bagavičius
         Member of the Board
         +370 5 233 5340

Attachments:

Agrowill Group 2014 Q4 Confirmation of responsible persons.pdf

Agrowill Group 2014 Q4 report EN.pdf