|
|||
2012-05-31 22:28:54 CEST 2012-05-31 22:29:54 CEST REGULATED INFORMATION Agrowill Group AB - Interim informationInterim information of Agrowill Group AB for the 3 month period ended 31 March 2012The total consolidated Agrowill Group Group's revenue for the three months of 2012 was LTL 9,817 million (EUR 2,843 million), an increase by 33 per cent over the total revenue of LTL 7,402 million (EUR 2,144 million) for the three months of 2011. EBITDA for the three months of 2012 went down by 17 per cent to LTL 1,556 million (EUR 0,451 million), as compared to LTL 1,875 million (EUR 0,543 million) in the three months of 2011. Net loss in January-March of 2012 amounted to LTL 2,526 million (EUR 0,732 million). It was a profit of LTL 1,956 million (EUR 0,566 million) over same period a year ago. Agrowill Group, AB in the first quarter of this year reached the planned results. Although during the first quarter of this year the Group had 2.5 million of loss, but the result has been planned and is due to objective reasons. Such results are due to high seasonality in agricultural activities. This seasonal characteristic is typical of all entities involved in crop production The ongoing plant operations, all the fertilizers, chemicals and fuel procurement, labour costs are accounted as unfinished production, and the Group's operating results include only dairy business results, and current expenses and financial costs. Most of the revenue and hence profit, will be accounted after selling of the harvest - in this year's third and fourth quarters. It is important to note that the Company's revenues from crop production accounts for about 60 percent of total revenues. Last year's first quarter, the company's profit amounted to about 1.8 million. LTL, however, was influenced by non-typical one-off accounting items. Group‘s EBITDA compared to last year's same period declined from 1.9 million. LTL 1.6 million. LTL. Benefiting from the favourable grain prices on world markets, Agrowill Group has already fixed the sale price for more than half of expected harvest for 2012. Conditions of winter crops after the winter season has been good and natural spring conditions this year were also quite good. It is planned that, with the projections of crop yields, the Group realize its ambitious goals for 2012. Agrowill Group previously predicted that this year's EBITDA (earnings before interest, taxes, depreciation and amortization) will grow almost double to 20 million LTL. Revenues expected to rise by almost a third - up to 76 million LTL. The Group's management plans to update the forecast in August when harvest figures will be known. Vladas Bagavičius Chairman of the Board tel. +370 610 31807 |
|||
|