Agroserv Mariuta posts a 23% increase in sales in the first half of 2023 up to 36.3 million lei
Agroserv Mariuta (BVB: MILK), a Romanian agricultural company and owner of the Laptaria cu Caimac brand, posts sales of 36.3 million lei in the first half of 2023, a 23% increase compared to H1 2022, and a net loss of 0.4 million lei, a 71% improvement versus the same period last year.
“The results for the first half of this year reflect the positive development of our company, based on increased sales, diversification of our product portfolio, expansion of our distribution network, and increased customer preference for Laptaria cu Caimac products. These achievements are all the more remarkable in the current context, characterized by challenges such as persistent inflation and the decline in national dairy sales in the first six months of the year. As a result of the increased financing cost, we did not end the first half of the year with a profit, but we have seen a significant improvement compared to the H1 2022 result. In 2023, we focused on two main directions. The first is aimed at restoring the company’s profitability and achieving the budget approved by our shareholders in April, while the second direction focuses on implementing the 2023/2024 strategy. This strategy involves both our commercial offer and the development of our colleagues’ skills, being aware of the key role they play in achieving all our objectives,” stated Cornel Danila, CEO of Laptaria cu Caimac.
The turnover generated by the sale of dairy products, semi-finished products, and goods reached 26.3 million lei, making the largest contribution to total turnover in H1 2023. Revenues from livestock farming activity amounted to 8.2 million lei, mainly due to the sale of raw milk, 7.6 million lei, followed by the sale of animals, 0.6 million lei. In the first semester of 2023, total milk production was 7.6 million liters, a 7% increase compared to the first six months of 2022. Average production in H1 2023 was therefore over 40 tonnes/day, a 2% increase compared to the same period last year. The factory used 53% of the farm’s milk production.
The revenues from vegetal activity amounted to 1.8 million lei in the first six months of 2023, following farming an area of more than 2,500 ha. This year, the company recorded a total crop production of 6,272 tonnes, of which wheat cultivation accounted for 68% and rapeseed for 32%.
According to the company’s data on the segments in which it operates, in the first half of 2023, nationwide, the sales of dairy products decreased by 5.5% compared to the same period last year. Most categories in the dairy market recorded negative results in this period: milk was down 5%, yoghurt 6%, sana and buttermilk were down 18% and 19% respectively, and cream declined 5%. In comparison, kefir was up 8%.
“We are proud that by staying true to our core values of providing customers with natural, high quality dairy products, always innovating and constantly launching new products, our company continues to grow in a healthy manner. In the first six months of this year, due to the development of our processing factory activity, the turnover increased significantly, which also had a positive impact on the operating result, which increased fourfold compared to last year. Given the positive sales trend in 2023 and the success of the newly launched products, we are confident that the performance in the latter part of the year will balance the results of the first half, so we are maintaining our revenue and expense budget estimates for the year,” stated Madalina Cocan, Member of the Board of Directors of Laptaria cu Caimac.
Agroserv Mariuta is listed on the AeRO market as of May 21, 2021, and currently has a market capitalization of approximately 69 million lei.
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About Agroserv Mariuta
Agroserv Mariuta is a company listed on the AeRO market of the Bucharest Stock Exchange (MILK symbol), which carries out a mixed agricultural activity of crop farming combined with livestock farming. Starting with 2018, the company has a new business line, namely the processing of cow’s milk, respectively obtaining dairy products – whole milk packaged in glass, matured cheeses, acidophilic products. With a desire to expand the family business and identify a market need to find quality dairy products, safe, nutritious, and without additives on the store shelves, the company launched the brand “Laptaria cu Caimac”. For more than three years, Laptaria cu Caimac has been delivering natural milk on the market, without unnecessary additives and powdered milk, and with special care to process milk. These unique products challenge the industry and increase quality standards. Also, Agroserv Mariuta is among the very few companies in Romania with 100% traceability for the raw material, up to the level of treatment of the plants that make up the food.