Agrogeneration cut its net loss
2011-11-03 16:52:40
For the six months of 2011 gross profit of AgroGeneration was EUR 2,19 million against EUR1, 47 million gross loss for the same period in 2010.
EBITDA during the first six months of 2011 totaled EUR1, 33 million, while in 2010 this figure was negative and amounted to EUR 3,22 million
According to the report, AgroGeneration currently harvested from more than 40 thousand hectares (84.7% of plan). The company estimates its
harvest of 150 thousand tons of grains and oilseeds, which is 25% higher compared to last year (120 tons).
Due to the increase of prices and production AgroGeneration assumes revenue growth of 60% - more than EUR32 million (EUR20 million against
2010).
AgroGeneration also expected to increase arable land by 50% - up to 100 thousand hectares until the end of 2012.
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