A/S Trigon Agri: Preliminary key earnings figures for 3Q
Total Revenue and fair value adjustments for the period January 1 to September 30, 2009 amounted to EUR 44,265 thousand (EUR 23,825 thousand for the respective period in 2008) constituting an 85.8% increase year-on-year. This total figure consisted of Total Revenue for the reporting period of EUR 39,542 thousand (EUR 20,306 thousand for the respective period in 2008) i.e. a 94.7% increase year-on-year. Other income of EUR 3,589 thousand (EUR 1,104 thousand for the respective period in 2008) and Gains arising from changes in fair value less estimated point-of-sale costs of biological assets of EUR 1,134 thousand (EUR 2,415 thousand for the respective period in 2008.)
EBITDA for the period January 1 to September 30, 2009 amounted to a loss of EUR 1,984 thousand (profit of EUR 1,235 thousand for the respective period in 2008). Net profit/loss for the reporting period amounted to a loss of EUR 4,351 thousand (loss of EUR 212 thousand for the respective period in 2008). Earnings per share amounted to loss of EUR 0.04 per share (EUR 0.00 for the respective reporting period in 2008).
The results above were achieved despite the drought conditions which influenced over 93% of the harvested area of the group in 2009 and despite the continued drop in prices for grains and oilseeds during 3rd quarter of 2009. Farm-gate prices for wheat in September 30, 2009 compared to June 30, 2009 dropped in euro terms between 17-30% depending on quality class (Source: APK Inform). Meanwhile, wheat constituted 48% in tonnage terms of the total 2009 harvest of the Group.
The foregoing results are preliminary and may be subject to adjustments following final closing of the books for the quarter. The full interim report will be published on November 30, 2009, as previously announced.
For further information please contact:
Mr. Ülo Adamson, Chairman of the Board of Directors of Trigon Agri A/S
Tel: +372 66 79 200
Robin Walker/Matthew Newton, Finsbury Group
Tel: +44 207 251 3801
The Company’s Certified Advisor is SEB Enskilda.
About Trigon Agri A/S
Trigon Agri A/S is a leading integrated cereals and dairy commodities production, storage and trading company with operations in Ukraine, Russia and Estonia. Trigon Agri A/S shares are traded on the First North stock exchange in Stockholm, an alternative market place of the OMX Nordic Exchange. Trigon Agri A/S is managed under a management agreement by Trigon Capital, a leading Central and Eastern European operational management firm with around USD 1 billion of assets under management.