The Danish agricultural company Agromino with assets in Ukraine, the Russian Federation and Estonia in January-June 2020 received EUR 760,000 in net profit against EUR 5.25 million in net profit for the same period in 2019.
According to the company’s report on its website, total income, adjusted for the fair value of assets and reserves, for the first half of this year increased by 23.2%, to EUR 35.47 million, of which EUR 33.57 million was provided by the Ukrainian agricultural segment.
Agromino’s EBITDA for the six months of 2020 was positive and increased by 10.2%, to EUR9.7 million.
“The results for the first half of 2020 include a foreign exchange loss of EUR2.1 million. In the first half of 2019, foreign exchange gains of EUR 600,000 were received,” the report says.
In the second quarter of 2020, Agromino reduced its net profit by 12.6% compared to the same period in 2019, to EUR 7.38 million, revenue increased by 12.9%, to EUR 23.46 million.
In 2019, Agromino received EUR 2.66 million in net profit against EUR 9.55 million in net loss in 2018. Its revenue for 2019 increased by 40.9% and amounted to EUR 35.62 million.
Agromino (formerly Trigon Agri) was established in 2006. It specializes in grain and dairy production, agricultural trade.
