May 23 (SeeNews) - Romanian agricultural company Agroland Agribusiness [BSE:AAB] said on Tuesday that its net profit decreased by 36% year-on-year to 534,550 lei ($115,800/107,500 euro) in the first three months of 2023.
Agroland Agribusiness' turnover rose 19% on the year to 18.96 million lei in the first quarter of the year, it said in a financial report filed with the Bucharest Stock Exchange.
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The highest increase in turnover in the first three months of the year was registered in the sale of pesticides, which rose by an annual 47%, contributing 6.3 million lei to the turnover. In the input seeds category, sales amounted to 6.1 million lei, up by 3%.
The company's earnings before interest, tax, depreciation and amortisation (EBITDA) totalled 1.2 million lei in the January-March period, down by 19% year-on-year.
Agroland's assets amounted to 45.2 million lei at the end of the first quarter, up 29% compared to the end of 2022.
Agroland Agribusiness is a Romanian company that sells agricultural products. The company is 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.
Its shares last traded 0.97% lower at 5.1 lei as of 1439 CET on Tuesday on the AeRO market of the Bucharest Stock Exchange.
(1 euro=4.97199 lei)