November 21 (SeeNews) - Romanian agricultural company Agroland Agribusiness [BSE:AAB] said that its net profit rose 41% year-on-year to 1.7 million lei ($352,061/344,011 euro) in the first nine months of 2022.
Agroland Agribusiness' turnover surged 130% on the year to 51.1 million lei in the first nine months of the year, it said in a financial report filed with the Bucharest Stock Exchange on Friday.
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The highest increase in turnover in the first six months of the year was registered in the sale of cereals, which soared by an annual 3,912%, contributing 12.8 million lei to the turnover.
The second highest annual growth, of 123%, was registered in the fertilizers category , of 123% as sales amounted to 23.8 million lei. The pesticides category grew by 18% to 11.7 million lei, while the sale of seeds increased by an annual 40% to 7.9 million lei during January-September.
The company's earnings before interest, tax, depreciation and amortisation (EBITDA) reached approximately 3.2 million lei at end-September, up 110% year-on-year.
Agroland's total assets reached 38.6 million lei at end-September, up 42% compared to the end of 2021.
Agroland Agribusiness is a Romanian company that specializes in the marketing of agricultural products. The company is currently active in the counties of Dolj, Olt, Mehedinti, Arges, Teleorman, Valcea, Gorj, Dambovița, Ilfov, Ialomita, Calarasi, Tulcea, Braila, and Constanta, in the southern region of the country. At end-September, the company employed 18 people.
Its shares last traded 0.76% higher at 5.3 lei as of 1411 CET on Monday on the AeRO market of the Bucharest Stock Exchange.
(1 euro=4.9417 lei)