Agroton net loss shortened by 17% in 1H 2021

The agricultural holding Agroton sustained a USD 2.98 mln net loss for 1H 2021, 17% down YoY (1H 2020: USD 3.59 mln).

Agroton's revenue in the reporting period grew to USD 17.15 mln, whereas in 1H 2020 it came to USD 13.85 mln.

"As a result of the annual cycle of crops producing and the Group's attempts to take an advantage of seasonal price changes by managing inventory in its storage facilities, the Group's Plant breeding segment is subject to seasonal fluctuations. Profits of this segment tend to be higher in the first half of a year," the report reads.

Revenue generated from sale in 1H 2021:

• livestock and related revenue: USD 1.395 mln
• winter wheat: USD 33 thou.
• sunflower: USD 15.63 mln
• corn in grain: USD 3 thou.
• vegetable oil and protein meals: USD 11 thou.
• other agricultural crops: USD 28 thou.

The gross profit of Agroton dropped by 6.2x from USD 8.35 mln in 1H 2020 to USD 1.34 mln in 1H 2021. The operating loss stood at USD 2.92 mln vs. USD 5.86 mln of operating profit in 1H 2020.

In the period August 19-25, Agroton's market cap decreased by 4.5% to USD 45 mln.