Romania's Agroserv Mariuta 9-mo net loss deepens y/y

The company's turnover rose 9% on the year to 54.8 million lei in the nine months through September, Agroserv Mariuta said in a financial report filed with the Bucharest Stock Exchange last week.

"The negative evolution of the company's results was caused by the fact that we faced an unexpected rate of calamities for our maize crop which seriously affected the performance at the level of plant activity," said Cornel Danila, general manager of Laptaria cu Caimac.

The company’s operating income increased by an annual 9% to 89 million lei in the January-September period, while its operating expenses rose by 8% to 84.7 million lei. As a result, the operating profit rose 44% to 4.3 million lei.

Total milk production rose by an annual 7% to 10.9 million litres in the first nine months of this year.

Total assets stood at 165.1 million lei at the end of September, growing by 6% since the end of last year. Total debts increased by 9% since the end of 2022, to 130.2 million lei at the end of tyhe reporting period.

Founded in 1994, Agroserv Mariuta launched its cow milk processing division along with its Laptaria cu Caimac brand in 2018.

At the end of June, Agroserv had 225 employees.

Agroserv shares traded 0.63% lower at 6.36 lei as at 1118 CET on Monday on the AeRO market of the Bucharest Stock Exchange.

(1 euro=4.968 lei)