Agroland Agribusiness posts revenues of RON 32.3 million for 2021 and a profit higher with77% compared to 2020
Craiova, 18 February 2022 – Agroland Agribusiness (BVB: AAB), a Romanian entrepreneurial company, part of the Agroland group, specialized in the sale of inputs for conventional and organic agriculture, posts an operating income of RON 32.3 million for 2021, 75% higher compared to 2020, EBITDA of RON 2.7 million, an appreciation of 83% compared to 2020 and a net profit of RON 2.2 million, 77% increase from 2020 results.
“The results for 2021, as well as the dynamic evolution, registered compared to 2020, give us a good indication of the potential that Agroland Agribusiness has on the Romanian market. We are glad that last year we managed to increase the portfolio of farmers and the territorial coverage, which translates into an increase in trust in our field consultants and the technologies proposed by our company. Although we expect to face several challenges this year, such as inflation and rising costs in all industries, our development ambitions remain high. As we announced earlier this month, we want to become the main supplier for the Romanian organic market by 2023. We will continue to invest in the company’s development by expanding the team, opening two new regional offices and warehouses in Bucharest and Timișoara, and launching a range of organic products for small farmers and households. We thank the shareholders for their trust, and we want to let them know that although we are satisfied with the results delivered in 2021, we intend to grow even more in 2022, but also in the years to come,” stated Florin Radu, CEO of Agroland Agribusiness.
The 75% increase in operating income was primarily due to a 67% increase in revenue from the sale of goods that reached RON 37.9 million and was offset by RON 6.4 million in trade reductions awarded to clients for products that were paid on time.
In terms of the division of revenues by categories, fertilizers contributed the most to total sales, amounting to approximately RON 17 million, an increase of 156% compared to 2020. Sales of pesticides increased by 36% to RON 12.9 million, while seed sales increased by 12% to RON 6.9 million. The other categories, such as fuel, other products, and grain trading, provided a total cumulative income of RON 1 million.
For 2022, Agroland Agribusiness targets net sales of RON 47.9 million, EBITDA of RON 4.2 million, and a net profit of RON 3.3 million. To achieve these results, the company relies on several pillars of development, such as expanding the team, geographical expansion, partnering with suppliers in Romania and abroad, launching a range of products in the category of pesticides, fertilizers, and more. Currently, Agroland Agribusiness operates in the South-West of the country, respectively, in the counties of Dolj, Olt, Mehedinți, Argeș, Teleorman, Vâlcea, and Gorj.
The shares of Agroland Agribusiness SA listed on the AeRO market of the Bucharest Stock Exchange on June 15th, 2021, and are traded under the symbol AAB. The company has a market capitalization of over RON 35 million. As of October 11th, 2021, AAB shares are included in the BET-AeRO index developed by BVB for the AeRO market.
About Agroland Agribusiness
Agroland Agribusiness is a Romanian entrepreneurial company specializing in the sale of inputs for conventional and organic agriculture. The company is currently operating in the South-West part of the country, respectively, in Dolj, Olt, Mehedinți, Argeș, Teleorman, Vâlcea, and Gorj and aims to expand throughout the South of the country, but also in the West. The main agricultural inputs marketed by Agroland Agribusiness are fertilizers, pesticides, seeds, and fuels, so the company sells the entire set of inputs needed by farmers. Secondly, Agroland Agribusiness is also involved in grain trading. The company purchases grain from farmers and capitalizes it on large traders who operate only in fixed points or ports. Thus, Agroland Agribusiness operates as a supplier for farmers, both through the inputs it sells and as a potential buyer of farmers’ crops. Agroland Agribusiness shares are listed on the AeRO market of the Bucharest Stock Exchange starting with June 15, 2021, under the ticker AAB.