AgroGeneration posted EUR 27.6 mln of loss in 2019

AgroGeneration reported EUR 27.65 mln of loss for the year 2019, 2.7x higher YoY (2018: 10.64 mln).

Under the company's report, revenue in the period dropped 25% to EUR 30.59 mln vs. EUR 41.01 mln in 2018. Gross loss totalled EUR 586 thou. (2018: EUR 11.27 mln of gross profit), operating loss reached EUR 19.87 mln (2018: EUR 1.48 mln of operating profit).

EBITDA for the year 2019 was negative at EUR 1,184 mln, compared to positive EBITDA for the corresponding period last year (EUR 5.65 mln t).

Previously reported that the major investment in the current year by AgroGeneration was planned in technology, however, the projects were postponed to 2021 due to the COVID-19 pandemic.