Interim information on AUGA group, AB for the 12-month period ended 31 December 2019

During the twelve months of 2019, AUGA group, AB and its subsidiaries’ (hereinafter - the Group) results showed improvement in all the business segments.

Sales revenue amounted to EUR 71.13 million, demonstrating an  increase of 30% compared to the same period in 2018, when it totalled EUR 54.75 million.

The Group’s gross profit for year of 2019 amounted to EUR 11.92 million and showed  186% growth or was EUR 6.81 million higher, compared to the same period in 2018 (gross profit for year 2018 was EUR 3.66 million).

Per twelve months period of 2019, Group’s net loss amounted to EUR 2.44 compared to net loss of EUR 5.98 million a year earlier. It should be noted that the financial results of both 2019 and 2018 were highly affected  by several one-off events and changes in accounting standards and policies. These  are discussed in the consolidated interim financial statements and management report. Excluding aforementioned effects, the Group would have incurred EUR 1.2 million net loss during the year of 2019 compared to EUR 7.32 million net loss during the year before.

The Group’s EBITDA for the twelve months of 2019 amounted to EUR 17.19 million, or EUR 11.05 million when eliminating IFRS16 effect. During the same period in 2018, the Group’s EBITDA amounted to EUR 3.55 million.

“This year, AUGA group's results showed improvement in all the business segments. Higher sales in the mushroom segment, higher sales and production  efficiency in the dairy segment and, despite the unfavorable weather conditions, significantly improved results of the crop segment (compared to the previous year), altogether contributed to the overall results of the Group. We are improving every year, gaining more experience and preparing the soil better. The importance of the improvements is visible even when under adverse weather conditions. Therefore, we believe that in the future the Group's financial results will further reveal our potential.” - says Kęstutis Juščius, CEO of AUGA group, AB.

Main financial results, EUR’000	12 months of 2019	12 months of 2018	Change, %
Revenues	71.13	54.75	30%
Gross profit (loss)	11.92	3.66	186%
Net profit (loss) (eliminating IFRS 16 effect)	(2.02)	(5.98)	66%
Net profit (loss) (without elimination of IFRS 16 effect)	(2.44)	Data not available	-
EBITDA (eliminating IFRS 16 effect)	11.05	3.55	311%
EBITDA (without elimination of IFRS 16 effect)	17.19	Data not available	-

Crop growing segment