AgroGeneration sustained EUR 17.58 mln of net loss in H1 2019

AgroGeneration reported EUR 17.58 mln of net loss in H1 2019 against EUR 1.83 mln of net profit in H1 2018.

The company's revenue in the reporting period dropped 37% to EUR 10.9 mln. The gross loss stood at EUR 5.6 mln (H1 2018: EUR 6.7 of gross profit). The operating loss totalled EUR 10.8 mln (H1 2018: EUR 1.9 mln of operating profit).

EBITDA H1 2019 totalled EUR (7.8) mln vs. EUR 3.19 mln in the prior year's comparative period.

In Q3 2019, AgroGeneration signed an agreement of sale of 11 thou. ha of lands for a total amount of approximately EUR 7.6 mln.

As a reminder, AgroGeneration brought proceedings against the European High Growth Opportunities Securitization Fund (EGHO) before the Paris Commercial Court following a contractual dispute between the two parties.