AGROMINO A/S: 4Q 2018 INTERIM REPORT
4Q 2018 Highlights
- 2018 net loss amounted to EUR 10.3 million (profit of EUR 3.5 million in 2017)
- EBITDA loss of EUR 8.4 million in 2018 compared to EBITDA profit of EUR 5.5 million in 2017
- Currency translation losses from disposal of subsidiaries amounting to EUR 10.0 million recycled from Other Comprehensive Income to Income Statement in the year 2018.
- Disposal of part of elevator business for USD 2.6 million, EUR 0.3 million gain from disposal recorded in the year 2018. The total storage capacity decreased to 85,000 tonnes (195,000 tonnes in 2017).
- Disposal of 10 thousand ha Russian land plots for EUR 171 thousand (17 EUR/ha). Total land under control as of December 31, 2018, declined to 47 thousand hectares (58 thousand hectares at December 31, 2017).
- Lower financial costs by EUR 0.25 million in comparison with the year 2017
- Share of profit EUR 0.8 million from investments in shares of Trigon Dairy Farming Estonia Ltd. in comparison with a profit of EUR 1.5 million in 2017
- The spring crops were not as disappointing as the winter crops, but anyway Agromino finished the year with the lowest net yield in five years.
- Winter crops of harvest 2019 were established on time.
- Wheat on 16 thousand ha and oilseed rape on 4 thousand ha as of December 31, 2018 are in reasonable condition.
- Impairment losses for property, plant and equipment in Russian segment were recognised in Income Statement for 2018 for EUR 0.8 million.
Mr. Petr Toman, CEO of Agromino A/S
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We are farmers and agribusiness managers, with operations in Ukraine, Russia and Estonia. Agromino A/S shares are traded on the main market of Nasdaq Stockholm.
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This information is information that Agromino A/S is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 08:00 CET on 28 February 2019.