Agromino net loss for 2018 reached EUR 10.3 mln

For the year 2018, Agromino net loss amounted to EUR 10.3 million vs. profit of EUR 3.5 million in 2017.

The company reports on the total revenue for 2018 at EUR 25.3 million, representing 18 pct decrease compared to EUR 31.0 million for 2017.

In 2018, the EBITDA stood at a loss of EUR 8.4 million compared to a profit of EUR 5.5 million in 2017. The consolidated assets of the Group as of December 31, 2018, amounted to EUR 45.4 million (EUR 46.8 million at December 31, 2017).

"The spring crops were not as disappointing as the winter crops, but anyway Agromino finished the year with the lowest net yield in five years," the report says.

Wheat on 16 thou. ha and oilseed rape on 4 thou. ha as of December 31, 2018, are in reasonable condition.

Profit per share stood at EUR –0.59 vs. EUR 0.2 in 2017.

As previously reported, the Check investment fund Mabon would increase its share in Agromino by 3.54 million shares and 101.29 million warrants.