Agroserv Mariuta posts sales of 66.6 million lei in the first nine months of 2024
Agroserv Mariuta (BVB: MILK), a Romanian agricultural company and owner of the Laptaria cu Caimac brand, posts sales of 66.6 million lei in the first nine months of 2024, an 11% increase compared to the same period last year, and a net loss of 3.8 million lei.
“The third quarter of 2024 was marked by the ongoing challenges experienced in the first half of the year, primarily due to the extreme soil drought that affected the corn crop over an area of 900 hectares. With a 100% damage rate, this situation directly impacted operating revenues and the net result. Despite these difficulties, our other business lines performed in line with our expectations, although they cannot yet offset the losses in agriculture. Our integrated business model, based on full traceability of raw materials, presents both advantages and disadvantages: it gives us the ability to control every step of the production chain, from animal feed to dairy product manufacturing, but also requires us to support the challenging times of each component. We chose this approach to maintain high-quality standards and offer our customers healthy and fresh products. We focus on consumer needs, and as such, our product range is constantly evolving. This process is based on a careful analysis of consumer preferences and the profitability of each category, ensuring the company’s long-term sustainability and growth,” stated Cornel Dănilă, CEO of Laptaria cu Caimac.
In the first nine months of 2024, revenues from the sale of dairy products, semi-finished goods, and goods reached 46.4 million lei, an 18% increase compared to the same period in 2023, making this the largest contributor to turnover.
Revenues from livestock farming totaled 13.6 million lei, a decrease of 3%. This category mainly includes the sale of raw milk, amounting to 8.8 million lei, followed by sales of animals, totaling 4.4 million lei. In the first nine months of 2024, total milk production reached 10.9 million liters, similar to the production recorded in the first three quarters of 2023. The average production during this period was approximately 40 tons/day, consistent with the same period last year. The factory used almost 64% of the farm’s milk production in the first nine months of 2024, an increase compared to the 54% share used during the same period of the previous year.
Revenues from vegetal activity reached 6.6 million lei in the first nine months of 2024, a 6% increase compared to the first three quarters of the previous year, following the cultivation of an area of 2,437 hectares. This year, the company recorded a total production of 11.3 thousand tons, with wheat accounting for 25% of this production and rapeseed for 10%.
Agroserv Mariuta shares are listed on the AeRO market of the Bucharest Stock Exchange as of May 21, 2021, and are traded under the MILK symbol.
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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 five 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.