Today, Agrokoncernas celebrates its 29th birthday. She is the one who started the story of the Agrokoncernas group of companies, which Ramūnas Karbauskis, the owner of Agrokoncernas, and his team are successfully building.
The Agrokoncernas Group currently comprises more than 40 companies. According to unaudited data, the total revenue of the group’s companies will exceed €630 million in 2021-2022. Compared to last year, sales revenue grew by 26%.
One of the Group’s strongest companies, Agrokoncernas has grown over nearly three decades from a retailer of fertilisers to a small number of farmers to one of the leaders in the agricultural sector in the Baltics. According to unaudited data, Agrokoncernas’ sales grew by 40% to €185 million in the financial years 2021-2022.
According to Edgaras Šakis, Director of Agrokoncernas, the increase in sales revenue is due to the price hike caused by the energy crisis and the rise in the price of resources. Revenues were boosted by higher product prices, while sales volumes remained similar.
“Although the financial results are good, this has not been an easy year for the team. When Russia attacked Ukraine, we were one of the first Lithuanian companies to sever business ties with the aggressor countries. It took time to adjust and find new suppliers from Western countries. The energy crisis has led to an increase in fertiliser prices, but the demand for fertiliser has not fallen significantly,” says E. Šakys.
Reviewing last year’s harvest, the head of Agrokoncerno says that it has lived up to expectations, despite the torrential rain that killed crops in some regions. According to him, recent data show that Lithuania’s crop yields have reached 6.5-7.5 million tonnes. This compares with neighbouring Belarus, which has four times the agricultural area.
“Working together for many years and in close cooperation with the country’s farmers, we provide people with healthy and quality produce. We know how to produce abundant yields because we focus on plant breeding research and on finding different technological solutions for growing healthy plants. This is what helps us to meet the challenges we face. Our goal is to become a model of success not only in Lithuania, but also abroad”, – says E. Šakys.
According to him, Agrokoncernas has not only been operating successfully for almost three decades, but is also one of the largest taxpayers in Lithuania. In the first three quarters of 2022 alone, the company paid €21.8 million. Agrokoncernas is one of the top 10 companies paying the most taxes into the national budget. Reviewing the last five years of his career, E. Šakys estimates that the group pays an average of €30 million a year in taxes to the state.
“The Agrokoncernas Group of Companies also focuses on philanthropy. E. Šakys calculates that this year alone, more than EUR 1.1 million has been allocated to support the Educate the Children Foundation, the Naisiai Summer Theatre, the Little Capitals of Culture of Lithuania, the cancer prevention initiative Medicina Practica, and other projects for public welfare.
