Agria Group – 2022 annual review – Strong finish to 2022 and a solid strategic move

• Agria experienced an exceptionally strong year, with total revenues surging to BGN 738.3 mln, a YoY increase of 67.3%.
• The company’s excellent performance was significantly bolstered by a 71.5% rise in revenue generated from trading in wheat, barley, corn, sunflower, and rapeseed. Moreover, there was a notable 44.2% growth in revenue from the company’s own production, as well as a 41.7% increase in revenue from the services provided.
• On 21.12.2022 г. Agria got approved for listing on the Bulgarian Stock Exchange as a “Premium” stock.
• “Agria Group Holding AD” bought 442k shares from “Almagest” AD, which is involved in the processing of grains (mainly wheat and corn) for production and export of ethanol (predominantly used in the food and beverage industry). “Almagest” AD is also the only Bulgarian producer of bioethanol – dehydrated ethyl alcohol which may be used as a substitute of the gasoline in internal combustion engines. With such strategic move “Agria Group Holding” AD could potentially position themselves in the market for renewable energy sources, thus achieving long-term security and sustainability of their business model.
• Operating income and expenses saw a significant YoY increase of 66.6% and 59.6% respectively. Low inventory cost and rising commodity prices led to higher trading margins and a remarkable increase of 165.5% YoY in the EBIT to BGN 85.4 mln in Q4 2022.
• Net profit rose by BGN 55.4 mln, a 242.6% increase, to BGN 78.2 mln.
• PP&E rose by BGN 66.7 mln, of which BGN 49.9 mln was used to purchase land, BGN 4.3 mln for machines and equipment, and BGN 4.4 mln for logistics.
• Current liabilities decreased by BGN 52.9mln YoY. This is because the company paid off over 80% of its obligations to suppliers and clients, where the account now stands at BGN 6.4mln, down from BGN 35.8 mln.

Full report can be downloaded here.