The Agrokoncernas Group, one of the leaders in the agricultural sector in the Baltic States, has completed the audit of its financial statements for the period 2021-2022. The audited consolidated revenue of the Group exceeded EUR 630 million. Compared to last year, sales revenue grew by 26%. Consolidated earnings before interest, tax, depreciation and amortisation (EBITDA) amount to €69 million.
According to Valdas Eimontas, CEO of Agrokoncernas grupa, the successful financial results were due to several reasons.
“One of these is the Group’s long-term strategy, which focuses on innovation, digitisation of processes, optimisation and new promising projects. We always try to look ahead when planning our activities. The second reason is flexibility, where we have been able to meet this year’s challenges thanks to our experience, contacts and a strong team. And thirdly, an advantage over competitors by offering extra money to the client and sharing our own experience”, says V. Eimontas.
At the beginning of the year, when Russia invaded Ukraine, the Agrokoncerns group of companies was one of the first in Lithuania to break business relations with the aggressor countries Russia and Belarus. New partnerships with Western suppliers have ensured an uninterrupted supply of goods and services to customers.
“The Agrokoncernas Group has been able to meet the challenges with a well-developed network of elevators and warehouses. In the financial years 2021-2022, successful trading also took place in Poland. A large part of the profits came from exports of agrochemicals to this neighbouring country.
“The Agrokoncerno Group” comprises more than 40 companies. UAB Agrokoncernas, one of the largest suppliers of solutions for agriculture, grew its sales by up to 40% and reached EUR 185 million, according to audited data.
According to the audited data of Agrokoncerno grūdai, a company engaged in the purchase and export of grain, sales revenues grew by 23% and reached EUR 444 million.
Agricultural companies belonging to the Agrokoncerno group of companies, which are engaged in crop and livestock farming, have also achieved excellent results for the financial years 2021-2022. Their sales revenue grew by 26% and operating profit doubled.
“The Agrokoncernas Group” actively invests in science and innovation. At the beginning of the year, AgroITC, Agrokoncerns’ Innovation and Research Centre, was awarded the Certificate of Good Practice for Testing the Efficacy of Plant Protection Products, giving it the status of a scientific institution.
The Group is one of the largest taxpayers in Lithuania. In 2021-2022, more than EUR 41 million in taxes were paid to the state budget.
The Group’s companies also focus on philanthropy. This year alone, more than €1.1 million has been allocated to support the Educate the Children Foundation, the Naisiai Summer Theatre, Lithuania’s Small Capitals of Culture, Medicina Practica, a cancer prevention initiative, and other public welfare projects.
