According to the data of AUGA group, total sales amounted to EUR 71.78 million during the 12-month period of 2021, while in the previous year total sales had amounted to EUR 83,07 million. The group’s gross profit in 2021 amounted to EUR 3.92 million, a net loss of EUR 14.03 million, while EBITDA – EUR 9.06 million.
Changing climate conditions and heatwaves during the season led to production challenges in 2021. This mainly affected the overall annual results and resulted in a loss, as it had already been reflected in the 9-month period report. Provisions for receivables were formed in the fourth quarter, losses also increased due to additional write-offs of inventories.
In 2021, the overall results were mainly influenced by the relatively low yield in the crop segment due to heatwaves in June and July. However, the increase in market prices for crop products, and the fact that these prices are already used to draft agreements for future harvests, gives us the opportunity to expect better results for this segment in the future. The dairy segment failed to achieve the desired yield in the first half of the year, but due to the group’s strategic focus on this segment, the results showed positive developments in the second half of the year. The yield in 2021 was 1% higher year-on-year. The lower performance of the mushroom segment during the reporting period was due to production challenges and the COVID-19 pandemic, which resulted in a decrease in production volumes. The end-use product segment plans were adjusted by logistics disruptions worldwide, but the segment continued to grow, with an estimated growth of 27% in 2021.
“Despite these challenges, the company has agreed financing options with financial institutions. By signing the financing agreements, the company will be able to further develop the technological projects envisaged in the strategy, which were started developing a few years ago, and then commercialize them. In 2022, we plan to start producing biomethane, employ zero-emission hybrid tractors developed by AUGA group on our farms, and complete testing of specialised feed technology. With a strong technological foundation and our innovations, we will strengthen this business segment. We will undertake the commercialisation and expansion of the developed technologies by attracting additional capital for the development of this field,” says Kęstutis Juščius, CEO of AUGA group.
In order to facilitate investors’ access to and analysis of group financial data, the group prepares and makes publicly available on its website historical financial data, in MS Excel format, including for the most recent reporting period. The data can be accessed via the following link: https://auga.lt/en/investors/reports-and-presentations/#tabs