Agromino net loss surged 4.2x in Q1 2020

Agromino posted a net loss of EUR 6.6 mln in 1Q 2020 compared to a net loss of EUR 1.6 mln in 1Q 2019.

Pursuant to the company's report, Agromino's revenue rose 1.5x to EUR 10.54 mln in the reporting period (Q1 2019: EUR 6.42 mln). The operating loss stood at EUR 1.28 mln vs. a loss of EUR 632 thou. in the relevant period last year.

EBITDA was EUR –6.6 mln compared to a positive indicator of EUR 0.4 mln in Q1 2019.

The total land under control was 55.3 thou. ha as of March 31, 2020 (47.0 thou. ha as of March 31, 2019). Increase in land under control was due to the acquisition of Resilient a.s at the end of 2019. In Ukraine, the company operates 52 thou. ha of farmland in eight regions.

Agromino reported a net profit of EUR 2.6 mln in 12M 2019 compared to a net loss of EUR 9.6 mln in 12M 2018.