AUGA Group, AB provides the Interim unaudited financial information for the nine months ended 30 September 2016 and confirmation of the responsible persons (attached).
The total consolidated revenue of AUGA Group, AB for the nine months of 2016 was EUR 28.07 million. For the same period of 2015 the total consolidated revenue of the company was EUR 32.04 million.
Gross profit for the nine months of 2016 was EUR 6.81 million. During the same period of the last year gross profit was EUR 8.36 million.
For the nine months period of 2016 EBITDA of AUGA Group, AB has reached EUR 6.66 million. During the same period of the last year AUGA Group‘s EBITDA was EUR 7.8 million.
The results for the nine months period of 2016 are in line with Company’s expectations and internal plans. Company is curently operating in transitional period to fully organic certification while Company has to meet all criteria of organic farming (and this affects lower volumes of production in comparison with conventional farming,) but production is still not certified as fully organic and prices are lower than organic production. The production will be fully certified in the second part of next year.
Also decreased milk purchase prices negatively affected the result of dairy activity, but here it should be noted that during last three months latest trends in the milk market are positive.
Net profit for the nine months of 2016 was EUR 0.78 million. During the same period last year net profit was EUR 9.91 million.
Net profit changes were mainly impacted by revaluation of own land portfolio and one-off sales of investment assets, which increased net profit for the nine months of 2015 by EUR 8.2 million.
Vladas Bagavičius Member of the Board; +370 5 233 53 40
