The income of Linas Agro Group doubled during the year

Mažvydas Šileika, financial director of Linas Agro Group AB. Photo of Judita Grigelytė (VŽ).

The consolidated income of the agricultural, food production and trading company “Linas Agro Group” for the last financial year amounted to 1.9 billion. EUR – twice as much as in the previous period (EUR 942.4 million).

The group’s net profit increased 4.6 times and reached 79.5 million. EUR, and profit before interest, taxes and depreciation (EBITDA) grew three times to EUR 134 million. Eur, the company reported through the Nasdaq Vilnius Stock Exchange.

Linas Agro Group earned almost half of its profit in the fourth quarter, according to Mažvydas Šileika, the company’s financial director.

“The last quarter of the year was really very active, although we had to work in very difficult conditions: we had to reorient ourselves to other markets due to the start of the war, in addition, we faced increased costs of gas, electricity and raw materials,” says M. Šileika.

Also read: “Linas Agro Group”: we are selling 4 companies, we will build 4 factories

The group’s fourth quarter consolidated income amounted to 548 million. EUR, or 1.4 times more than a year ago, the net profit reached 50 million. EUR – 4.1 times more compared to last year.

According to M. Šileika, the acquisition of the agricultural products processing and food production group “KG Group” from Tautvydas Barščis and the integration of other businesses contributed to the good results.

“Linas Agro Group” manages a group of agricultural and food production companies in the Baltic States, which consists of 75 companies operating in 8 countries.

Linas Agro Group, which became the largest company on the Baltic Stock Exchange in terms of revenue, last July acquired the companies controlled by T. Barščias, Kauno grūdai, Kaišiadorių Poultry, Vilnius Poultry and their related companies. the purchase was valued at 143 million. Eur.

The company paid 73.469 million for the group’s shares. EUR, and together with liabilities amounting to EUR 70 million. EUR, the total value of the purchase amounts to 143 million. Eur.

The Group’s financial year starts in July and ends at the end of June of the following year.

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