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Romania's DN Agrar continues investment in new cow farm

Jun 18, 2024, 3:18:42 PMArticle by Alexandru Cristea
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June 18 (SeeNews) - Romanian agricultural group DN Agrar [BSE:DN] said it invested a further 700,000 lei ($150,856/140,658 euro) in the ongoing construction of a cow farm, bringing the total amount invested so far to 2.3 million lei.

Romania's DN Agrar continues investment in new cow farm
DN Agrar cattle farm Source: DN Agrar

The investment was made through a loan given by the parent company to subsidiary DN Agrar Straja, the agricultural group said in a filing to the Bucharest Stock Exchange, BVB, on Monday.

DN Agrar is developing a new farm spanning 10 ha in the western village of Straja, Alba county, with a capacity of 600 dairy cows, the company said in a quarterly financial report issued last month. The company will operationalise the farm in the third quarter of 2024 and will increase its capacity to 9,000 cattle by the end of the year.

In the first quarter of 2024, DN Agrar booked a consolidated net profit of 7.9 million lei, down by an annual 4.5%, on a consolidated net turnover of 40.3 million lei, as per the quarterly financial report.

DN Agrar, established in 2008, comprises 12 companies. The group's portfolio includes more than 14,500 cows and over 7,000 ha of cultivated land in the counties of Alba, Sibiu and Hunedoara. The group's goal is to reach 10,000 ha of worked land through the acquisition of other farms.

DN Agrar Group's shares traded 0.61% higher at 1.64 lei as at 1314 CET on June 18 on the Bucharest bourse.

(1 euro=4.9766 lei)

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