AUGA group published audited results for 2023 and Sustainability Report

The Agtech company and organic food producer AUGA group published its 2023 consolidated annual report, which includes descriptions of the activities and management of the group’s companies, the audited annual financial results, and the Sustainability Report.

The consolidated annual report discloses business segments and aggregate financial data following the assessment of the independent auditors PwC Lietuva. After the audit, the Group’s 2023 revenue was EUR 81.48 million, gross profit EUR 18.45 million and EBITDA EUR 1.18 million.

The Sustainability Report of AUGA group, which covers the environmental, social responsibility, and sustainable governance activities of all companies in the group, was audited for the third time by the independent consulting company Sustain Advisory. Emissions generated in the group’s activities were audited, as they are every year, by an independent international company − Carbon Footprint.

During 2023, AUGA group’s activity emissions amounted to 80,731 t of CO2e, when the group companies generated  86,206 t of CO2e in 2022. The lower footprint of AUGA group’s activities in 2023 was recorded for the following main reasons: sustainable land cultivation practices such as minimal tillage and extensive field grazing, decreased consumption of fossil fuels, lower soil emissions, attributed to the use of organic and inorganic fertilizers, as well as crop residues in fields after harvest. The implementation of long-term, regenerative crop rotations and optimised fertiliser use has led to a consistent annual decrease in nitrogen fertiliser consumption.

In 2023, in the area of social responsibility, the group’s companies focused on ensuring its workers’ health and safety at work as well as continuing the share options programme. In 2023, AUGA Luganta and the Baltic Champs company of the Group following an international audit, extended the GRASP certificate, which is an additional module of another international standard, GLOBAL G.A.P, measuring the application of corporate social responsibility principles.

In November 2023, AUGA group elected a new Board and CEO to ensure the successful implementation of a a new business model that will enable scaling of technology. The current Board consists of Kęstutis Juščius (Chair of the Board), Peter Bryde, Andrej Cyba, Kristina Daudoravičienė, Justina Klyvienė. Elina Chodzkaitė-Barauskienė has been appointed as interim CEO until the new Board elects a new CEO.

The activities of AUGA group in all three areas of sustainability are described on the basis of two international sustainability reporting standards: GRI (Global Reporting Initiative) and Nasdaq ESG Reporting Guide.

The consolidated annual report together with the financial results, the Sustainability Report, and the auditors’ statements can be found here.