Report on interim financial results of AUGA group

Sales revenue AUGA group, AB, and subsidiaries amounted to €54.90 million

The sales revenue of AUGA group, AB, and its subsidiaries (hereinafter, the Group) for the 9-month period amounted to EUR 54.90 million and was 12% lower than the same period last year, when the sales revenue totalled EUR 62.38 million.

According to the Group data, for the three quarters of 2021, the Group’s gross profit was EUR 1.70 million. The gross profit of the same period last year amounted to EUR 11.88 million. In the first 9 months of 2021, the Group’s net loss was EUR 10.43 million.

The EBITDA of the Group amounted to EUR 5.45 million in the first 9 months of 2021, representing a 66% decrease from the same period last year, when EBITDA was EUR 15.94 million.

“These 9-month results were driven by challenges in the crop growing segment. In June and July, when summer crops grow the most, an extreme heatwave was recorded in Lithuania. Organic farming was especially affected, resulting in poor performance in a key segment of our operations.

There is no doubt that we have started feeling the effects of climate change more frequently and more adversely than ever before, so accelerating our innovation agenda becomes even more important. Today, AUGA group is diversifying its income, growing FMCG sales and entering the AgTech segment, so fluctuating agricultural performance will become less important in achieving our long-term goals," says Kęstutis Juščius, CEO of AUGA group, AB.

Mushroom growing segment
There was a 6% decrease in sales of the mushroom growing segment in the first 3 quarters of 2021 compared to sales for the same quarters last year. In 2021, total sales for this period amounted to EUR 21.46 million; last year they were EUR 22.94 million.

Production challenges and the COVID-19 pandemic resulted in a 18% decrease in production volumes during the third quarter, compared to the second quarter. This led to an overall decrease in segment results for the entire period.

During the first 9 months of 2021, the gross profit of the mushroom growing segment amounted to EUR 0.56 million. This demonstrated a 59% fall from the same period last year, when gross profit amounted to EUR 1.38 million. 

The Group expects to return to typical production volumes in the fourth quarter.

For more information:
Mindaugas Ambrasas
AUGA group, AB
Tel.: +370 620 67296

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